New Residential Investment (NRZ) Shares Gap Down to $18.07

New Residential Investment Corp (NYSE:NRZ) gapped down before the market opened on Thursday . The stock had previously closed at $18.24, but opened at $18.07. New Residential Investment shares last traded at $18.07, with a volume of 2560969 shares traded.

A number of research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of New Residential Investment from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. B. Riley reaffirmed a “buy” rating and issued a $19.25 price target on shares of New Residential Investment in a research note on Wednesday, November 29th. FBR & Co reaffirmed a “buy” rating and issued a $17.50 price target on shares of New Residential Investment in a research note on Monday, October 9th. ValuEngine lowered shares of New Residential Investment from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 15th. Finally, Vetr raised shares of New Residential Investment from a “hold” rating to a “buy” rating and set a $17.14 price target on the stock in a research note on Wednesday, September 6th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $18.09.

The stock has a market capitalization of $5,554.02, a P/E ratio of 5.79, a price-to-earnings-growth ratio of 6.76 and a beta of 1.02.

New Residential Investment (NYSE:NRZ) last issued its quarterly earnings results on Friday, October 27th. The real estate investment trust reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.08. New Residential Investment 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 analyst estimates of $291.66 million. During the same period last year, the company posted $0.51 EPS. New Residential Investment’s quarterly revenue was up 72.1% compared to the same quarter last year. research analysts predict that New Residential Investment Corp will post 2.68 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Friday, December 29th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 11.19%. The ex-dividend date is Thursday, December 28th. New Residential Investment’s dividend payout ratio (DPR) is 64.72%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Atlantic Trust Group LLC purchased a new position in New Residential Investment in the 3rd quarter worth approximately $8,070,000. Belpointe Asset Management LLC purchased a new position in New Residential Investment in the 3rd quarter worth approximately $366,000. Cetera Advisor Networks LLC lifted its stake in New Residential Investment by 31.7% in the 3rd quarter. Cetera Advisor Networks LLC now owns 20,375 shares of the real estate investment trust’s stock worth $343,000 after purchasing an additional 4,899 shares in the last quarter. Neuberger Berman Group LLC lifted its stake in New Residential Investment by 12.3% in the 3rd quarter. Neuberger Berman Group LLC now owns 398,969 shares of the real estate investment trust’s stock worth $6,675,000 after purchasing an additional 43,840 shares in the last quarter. Finally, Highlander Capital Management LLC lifted its stake in New Residential Investment by 250.0% in the 3rd quarter. Highlander Capital Management LLC now owns 10,500 shares of the real estate investment trust’s stock worth $176,000 after purchasing an additional 7,500 shares in the last quarter. 48.49% of the stock is currently owned by institutional investors and hedge funds.

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About New Residential Investment

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.

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