New Residential Investment Corp. (NYSE:NRZ) saw a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 5,640,000 shares, a decline of 20.0% from the March 15th total of 7,050,000 shares. Currently, 1.4% of the shares of the stock are short sold. Based on an average daily volume of 4,520,000 shares, the short-interest ratio is currently 1.2 days.

Shares of New Residential Investment stock opened at $10.22 on Wednesday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average price of $10.87 and a 200 day moving average price of $9.65. New Residential Investment has a fifty-two week low of $4.79 and a fifty-two week high of $11.48. The firm has a market cap of $4.24 billion, a P/E ratio of -3.21 and a beta of 1.87.

New Residential Investment (NYSE:NRZ) last issued its earnings results on Monday, February 8th. The real estate investment trust reported $0.32 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.32. The company had revenue of $570.70 million for the quarter, compared to analysts’ expectations of $768.75 million. New Residential Investment had a negative net margin of 96.73% and a positive return on equity of 14.58%. The firm’s revenue was down 15.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.61 earnings per share. As a group, equities research analysts anticipate that New Residential Investment will post 1.46 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 30th. Shareholders of record on Monday, April 5th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 7.83%. The ex-dividend date is Thursday, April 1st. New Residential Investment’s payout ratio is 36.87%.

Several equities analysts recently issued reports on NRZ shares. BTIG Research boosted their target price on shares of New Residential Investment from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, April 16th. Zacks Investment Research lowered New Residential Investment from a “buy” rating to a “hold” rating in a research note on Tuesday, February 16th. Credit Suisse Group increased their price objective on shares of New Residential Investment from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Monday, March 22nd. JMP Securities increased their price target on New Residential Investment from $9.50 to $10.00 and gave the stock a “market outperform” rating in a report on Friday, January 22nd. Finally, Piper Sandler upped their price target on New Residential Investment from $11.50 to $13.00 and gave the stock an “overweight” rating in a report on Tuesday. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. New Residential Investment currently has a consensus rating of “Buy” and a consensus price target of $11.42.

In other news, CEO Michael Nierenberg bought 100,000 shares of the stock in a transaction on Monday, April 19th. The stock was acquired at an average cost of $10.10 per share, for a total transaction of $1,010,000.00. Following the acquisition, the chief executive officer now owns 357,028 shares of the company’s stock, valued at $3,605,982.80. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.47% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. CENTRAL TRUST Co acquired a new stake in New Residential Investment during the fourth quarter valued at approximately $30,000. Optimum Investment Advisors boosted its stake in shares of New Residential Investment by 400.0% during the 4th quarter. Optimum Investment Advisors now owns 5,000 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 4,000 shares in the last quarter. Inspire Advisors LLC acquired a new position in shares of New Residential Investment in the 4th quarter worth $65,000. Lindbrook Capital LLC raised its position in shares of New Residential Investment by 312.1% during the fourth quarter. Lindbrook Capital LLC now owns 6,630 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 5,021 shares during the period. Finally, Metropolitan Life Insurance Co NY boosted its position in shares of New Residential Investment by 9.3% in the 1st quarter. Metropolitan Life Insurance Co NY now owns 9,747 shares of the real estate investment trust’s stock valued at $164,000 after purchasing an additional 828 shares during the period. 46.54% of the stock is currently owned by institutional investors.

About New Residential Investment

New Residential Investment Corp., a real estate investment trust, focuses on investing in and managing residential mortgage related assets in the United States. It operates through five segments: Origination, Servicing, MSR Related Investments, Residential Securities and Loans, and Consumer Loans. The company invests in excess mortgage servicing rights (MSRs) on residential mortgage loans; and in servicer advances, including the basic fee component of the related MSRs.

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