New Residential Investment Corp. (NYSE: NRZ – Get Rating) – Wedbush investment analysts downgraded their EPS estimates for the second quarter of 2022 for shares of New Residential Investment in a note issued to investors on Wednesday, June 22. Wedbush analyst H. Coffey now expects the real estate investment trust to earn $ 0.28 per share for the quarter, which is less than their preliminary estimate of $ 0.34. The consensus estimate for New Residential Investment’s current earnings for the full year is $ 1.16 per share.
A number of other brokers also commented on NRZ. Piper Sandler downgraded New Residential Investment from a “neutral” rating to “under weight” and lowered its target price for the company from $ 12.00 to $ 10.00 in a research note on Monday (June 13th). Raymond James raised his target price for shares of New Residential Investment from $ 13.00 to $ 13.50 and gave the stock a rating of “superior” in a research report on Tuesday, March 29. Finally, StockNews.com raised shares of New Residential Investment from a “hold” rating to a “buy” rating in a research report Monday, May 9th. One analyst rated the shares with a sell rating, and seven rated the buy rating. Based on data from MarketBeat, New Residential Investment has a consensus rating of “Moderate Buying” and a consensus target price of $ 12.20.
Shares of NRZ opened at $ 9.29 on Thursday. New Residential Investment has a 52-week low of $ 8.18 and a 52-week high of $ 11.81. The company has a market capitalization of $ 4.34 billion, a P / E ratio of 4.11 and a beta of 1.66. The company’s 50-day simple moving average is $ 10.58, and its 200-day simple moving average is $ 10.64. The company has a debt-to-equity ratio of 0.09, a fast ratio of 0.44 and a current ratio of 0.44. New Residential Investment (NYSE: NRZ – Get Rating) last announced its results for the quarterly earnings on Tuesday, May 3. The real estate investment trust reported $ 0.37 EPS for the quarter, beating analysts’ consensus estimates of $ 0.35 by $ 0.02. New housing investments have a net margin of 28.82% and a return on equity of 13.84%. In the same period last year, the company reported $ 0.34 EPS.
The company also recently announced a quarterly dividend to be paid on Friday (July 29th). The record shareholders on Friday, July 1, will receive a dividend of $ 0.25 per share. The date of the former dividend is Thursday, June 30. This represents a dividend of $ 1.00 on an annual basis and a dividend yield of 10.76%. The payout ratio of new housing investments is currently 44.25%.
Several hedge funds and other institutional investors recently bought and sold NRZ shares. Morgan Stanley raised its stake in New Residential Investment by 11.5% in the third quarter. Morgan Stanley now owns 3,089,373 shares of the $ 33,983,000 real estate investment trust after gaining an additional 319,276 shares in the last quarter. Royal Bank of Canada increased its position in shares of New Residential Investment by 14.0% in the third quarter. Royal Bank of Canada now owns 1,851,644 shares of the $ 20,368,000 real estate investment trust after gaining an additional 227,539 shares in the last quarter. Guggenheim Capital LLC increased its position in shares of New Residential Investment by 61.1% in the third quarter. Guggenheim Capital LLC now owns 78,592 shares of the $ 864,000 real estate investment trust after gaining an additional 29,818 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in shares of New Residential Investment by 99.9% in the third quarter. Cubist Systematic Strategies LLC now owns 62,297 shares of the $ 685,000 real estate investment trust after gaining an additional 31,131 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of New Residential Investment by 28.9% in the third quarter. Wellington Management Group LLP now owns 2,378,975 shares of the $ 26,169,000 real estate investment trust after gaining an additional 533,597 shares in the last quarter. Institutional investors and hedge funds own 46.48% of the company’s shares.
Regarding new housing investments (Get an estimate)
New Residential Investment Corp. operates as a real estate investment trust in the United States. It operates through origination, servicing, MSR-related investments, housing securities, real estate and loans, consumer loans, mortgage loans and corporate segments. The company invests in mortgage servicing rights, mortgage creation and servicing companies backed by residential mortgage securities, real estate and loans, consumer loans and other opportunistic investments.
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