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New Residential Investment (NYSE:NRZ – Get a rating) had its price target reduced by Credit Suisse Group investment analysts to $12.00 in a research report released Friday to clients and investors, Target Stock Advisor reports. Credit Suisse Group’s target price would suggest a potential upside of 17.76% from the stock’s previous close.
Other stock analysts have also recently published research reports on the company. Raymond James raised its price target on new residential investments from $13.00 to $13.50 and gave the company an “outperform” rating in a Tuesday, March 29 report. StockNews.com moved new residential investment from a “hold” rating to a “buy” rating in a Monday, May 9 report. Finally, Piper Sandler downgraded New Residential Investment from a “neutral” rating to an “underweight” rating and lowered its price target for the company from $12.00 to $10.00 in a Monday report. June 13. One research analyst has rated the stock with a sell rating and seven have assigned the stock a buy rating. According to data from MarketBeat, the stock currently has a “Moderate Buy” consensus rating and an average target price of $12.00.
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NYSE: NRZ traded down $0.04 at midday on Friday, hitting $10.19. 3,243,278 shares of the company were traded, compared to its average volume of 5,926,103. The company has a 50-day moving average of $10.14 and a two-hundred-day moving average of $10.45 . New residential investment has a 12-month low of $8.18 and a 12-month high of $11.81. The company has a market capitalization of $4.76 billion, a price-earnings ratio of 4.51 and a beta of 1.67. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt ratio of 0.09.
New Residential Investment (NYSE:NRZ – Get a rating) last announced its results on Tuesday, May 3. The real estate investment trust reported earnings per share of $0.37 for the quarter, beating the consensus estimate of $0.35 by $0.02. The new residential investment had a return on equity of 13.84% and a net margin of 28.82%. In the same quarter a year earlier, the company posted earnings of $0.34 per share. On average, stock analysts expect new residential investments to post 1.21 earnings per share for the current fiscal year.
Institutional investors weigh on new residential investments
A number of hedge funds and other institutional investors have recently bought and sold shares of NRZ. Kestra Private Wealth Services LLC acquired a new stake in New Residential Investment during Q4 valued at $132,000. National Bank Huntington acquired a new stake in New Residential Investment during the 4th quarter for a value of $32,000. National Bank of Canada FI acquired a new stake in New Residential Investment during the 4th quarter for a value of $42,000. RMB Capital Management LLC increased its holdings in New Residential Investment by 8.4% during the 4th quarter. RMB Capital Management LLC now owns 128,860 shares of the real estate investment trust valued at $1,380,000 after buying an additional 10,000 shares last quarter. Finally, Verdence Capital Advisors LLC acquired a new stake in New Residential Investment during the 4th quarter at a value of $128,000. 46.48% of the shares are held by institutional investors and hedge funds.
New Home Investment Business Profile
New Residential Investment Corp. operates as a real estate investment trust in the United States. It operates through Origination, Servicing, MSR Related Investments, Residential Securities, Properties and Loans, Consumer Loans, Mortgage Loans and Corporate segments. The Company invests in mortgage servicing rights, mortgage origination and servicing companies, residential mortgage-backed securities, property and loans, consumer loans and other opportunistic investments.
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