Credit Suisse Group cut their target price on New Residential Investment (NYSE:NRZ) to $12.00

New Residential Investment (NYSE:NRZ – Get Rating) the target price was lowered by investment analysts at Credit Suisse Group to $12.00 in a research report issued to clients and investors on Friday, Stock Target Advisor reports. Credit Suisse Group’s price target suggests a potential upside of 17.76% from the stock’s previous close.

Other equities analysts have also recently issued research reports on the company. Raymond James upped their target price on New Home Investment from $13.00 to $13.50 and gave the company an “outperform” rating in a report on Tuesday, March 29th. StockNews.com raised New Home Investment from a “hold” rating to a “buy” rating in a report on Monday, May 9th. Finally, Piper Sandler cut New Home Investment from a “neutral” rating to an “underperform” rating and cut their target price for the company from $12.00 to $10.00 in a report on Monday, June 13th. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Moderate Buy” and an average price target of $12.00, according to MarketBeat.

Presentation of new residential investment shares

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NYSE:NRZ traded up $0.04 during mid-day trading on Friday, reaching $10.19. 3,243,278 shares of the company’s stock traded hands, compared to its average volume of 5,926,103. The firm has a 50-day moving average of $10.14 and a 200-day moving average of $10.45. New Home Investment has a 12 month low of $8.18 and a 12 month high of $11.81. The firm has a market cap of $4.76 billion, a price-to-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-to-equity ratio of 0.09.

New Residential Investment (NYSE:NRZ – Get Rating ) last announced its earnings results on Tuesday, May 3rd. The real estate investment trust reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. New Residential Investment had a return on equity of 13.84% and a net margin of 28.82%. In the same quarter last year, the business reported $0.34 earnings per share. equities analysts predict that New Residential Investment will post 1.21 earnings per share for the current fiscal year.

Institutional investors weigh in on new housing 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 in the 4th quarter valued at $132,000. Huntington National Bank acquired a new stake in New Residential Investment in the 4th quarter valued at $32,000. National Bank of Canada FI acquired a new stake in New Residential Investment in the 4th quarter valued at $42,000. RMB Capital Management LLC raised its holdings in New Residential Investment by 8.4% in the 4th quarter. RMB Capital Management LLC now owns 128,860 shares of the real estate investment trust’s stock valued at $1,380,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Verdence Capital Advisors LLC acquired a new stake in New Residential Investment in the 4th quarter valued at $128,000. 46.48% of the stock is owned by institutional investors and hedge funds.

New housing investment company profile

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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, real estate 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, real estate and loans, consumer loans and other opportunistic investments.

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Analyst Recommendations for New Residential Investment (NYSE:NRZ)

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