New Residential Investment (NYSE:NRZ) Price Target Increased to $20.00 by Analysts at Nomura

New Residential Investment (NYSE:NRZ) had its price target raised by stock analysts at Nomura from $18.50 to $20.00 in a research note issued on Thursday, BenzingaRatingsTable reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Nomura’s target price points to a potential upside of 14.55% from the company’s previous close.

Several other equities research analysts have also recently issued reports on NRZ. Piper Jaffray Companies cut shares of New Residential Investment from an “overweight” rating to a “neutral” rating and set a $16.00 target price on the stock. in a research report on Thursday, November 14th. Compass Point began coverage on shares of New Residential Investment in a research report on Monday, December 2nd. They set a “buy” rating and a $19.00 price target on the stock. B. Riley reaffirmed a “buy” rating on shares of New Residential Investment in a research report on Monday, January 13th. Argus began coverage on shares of New Residential Investment in a research report on Tuesday, December 31st. They set a “buy” rating and a $18.00 price target on the stock. Finally, Zacks Investment Research raised shares of New Residential Investment from a “sell” rating to a “hold” rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. New Residential Investment has an average rating of “Buy” and a consensus target price of $18.36.

NRZ opened at $17.46 on Thursday. The company’s 50 day simple moving average is $16.63 and its 200 day simple moving average is $15.62. New Residential Investment has a 1 year low of $13.63 and a 1 year high of $17.63. The stock has a market capitalization of $7.18 billion, a PE ratio of 13.03 and a beta of 1.09.

New Residential Investment (NYSE:NRZ) last released its earnings results on Thursday, February 6th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.09. New Residential Investment had a net margin of 31.89% and a return on equity of 13.14%. The business had revenue of $216.08 million for the quarter, compared to analysts’ expectations of $241.88 million. During the same period last year, the company earned $0.58 earnings per share. On average, research analysts expect that New Residential Investment will post 2.05 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the business. Metropolitan Life Insurance Co NY lifted its holdings in shares of New Residential Investment by 9.3% during the first quarter. Metropolitan Life Insurance Co NY now owns 9,747 shares of the real estate investment trust’s stock worth $164,000 after buying an additional 828 shares during the last quarter. FMR LLC raised its stake in shares of New Residential Investment by 62.2% in the first quarter. FMR LLC now owns 779,914 shares of the real estate investment trust’s stock valued at $13,189,000 after purchasing an additional 299,097 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its stake in shares of New Residential Investment by 50.8% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 250,386 shares of the real estate investment trust’s stock valued at $4,234,000 after purchasing an additional 84,355 shares in the last quarter. BlackRock Inc. raised its stake in shares of New Residential Investment by 3.9% in the second quarter. BlackRock Inc. now owns 25,928,104 shares of the real estate investment trust’s stock valued at $399,033,000 after purchasing an additional 983,142 shares in the last quarter. Finally, TCI Wealth Advisors Inc. raised its stake in shares of New Residential Investment by 2,687.6% in the third quarter. TCI Wealth Advisors Inc. now owns 5,854 shares of the real estate investment trust’s stock valued at $92,000 after purchasing an additional 5,644 shares in the last quarter. 51.11% of the stock is currently owned by hedge funds and other institutional investors.

New Residential Investment Company Profile

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 Servicing and Originations, Residential Securities and Loans, and Consumer Loans segments. 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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Analyst Recommendations for New Residential Investment (NYSE:NRZ)

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