New Residential Investment Corp. (NYSE:NRZ) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “New Residential Investment Corp. is a real estate investment trust. It focuses on investing in, and actively managing, investments related to residential real estate. The Company primarily target investments in excess mortgage servicing rights, residential mortgage backed securities, residential mortgage loans and other related investments. New Residential Investment Corp. is based in New York. “

Other equities research analysts have also recently issued reports about the stock. Vetr raised shares of New Residential Investment Corp. from a “hold” rating to a “buy” rating and set a $17.14 target price on the stock in a report on Wednesday, September 6th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $18.00 target price on shares of New Residential Investment Corp. in a report on Sunday, August 27th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $18.00 target price on shares of New Residential Investment Corp. in a report on Thursday, August 3rd. ValuEngine cut shares of New Residential Investment Corp. from a “strong-buy” rating to a “buy” rating in a report on Friday, September 15th. Finally, BidaskClub raised shares of New Residential Investment Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $17.93.

Shares of New Residential Investment Corp. (NRZ) opened at $17.44 on Wednesday. New Residential Investment Corp. has a 52-week low of $14.09 and a 52-week high of $17.91. The company has a market cap of $5,357.31, a PE ratio of 6.16, a price-to-earnings-growth ratio of 6.53 and a beta of 1.04.

New Residential Investment Corp. (NYSE:NRZ) last issued its quarterly earnings results on Friday, October 27th. The real estate investment trust reported $0.64 EPS for the quarter, topping the consensus estimate of $0.56 by $0.08. New Residential Investment Corp. had a net margin of 60.06% and a return on equity of 19.38%. The firm had revenue of $331.38 million for the quarter, compared to analysts’ expectations of $291.66 million. During the same period in the previous year, the firm posted $0.51 EPS. The company’s revenue for the quarter was up 72.1% on a year-over-year basis. equities analysts anticipate that New Residential Investment Corp. will post 2.67 EPS for the current year.

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Institutional investors and hedge funds have recently made changes to their positions in the stock. Dupont Capital Management Corp grew its stake in New Residential Investment Corp. by 55.3% in the 3rd quarter. Dupont Capital Management Corp now owns 277,700 shares of the real estate investment trust’s stock valued at $4,646,000 after buying an additional 98,900 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in New Residential Investment Corp. by 63.4% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 155,034 shares of the real estate investment trust’s stock valued at $2,412,000 after buying an additional 60,175 shares during the last quarter. Meeder Asset Management Inc. grew its stake in New Residential Investment Corp. by 19.7% in the 3rd quarter. Meeder Asset Management Inc. now owns 25,156 shares of the real estate investment trust’s stock valued at $421,000 after buying an additional 4,135 shares during the last quarter. Utah Retirement Systems acquired a new position in New Residential Investment Corp. in the 2nd quarter valued at about $874,000. Finally, Swiss National Bank grew its stake in New Residential Investment Corp. by 3.2% in the 2nd quarter. Swiss National Bank now owns 511,905 shares of the real estate investment trust’s stock valued at $7,965,000 after buying an additional 15,800 shares during the last quarter. Institutional investors and hedge funds own 47.97% of the company’s stock.

New Residential Investment Corp. Company Profile

New Residential Investment Corp. is a real estate investment trust (REIT). The Company focuses on investing in, and managing, investments related to residential real estate. The Company’s segments include investments in excess mortgage servicing rights (Excess MSRs); investments in mortgage servicing rights (MSRs); investments in servicer advances; investments in real estate securities; investments in residential mortgage loans; investments in consumer loans, and corporate.

Analyst Recommendations for New Residential Investment Corp. (NYSE:NRZ)

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