Trading Report: The New Residential Investment Corp. (NRZ) Earns Neutral Rating from Analysts at Nomura

The New Residential Investment Corp. (NRZ) Earns Neutral Rating from Analysts at Nomura

Nomura initiated coverage on shares of New Residential Investment Corp. (NYSE:NRZ) in a research report report published on Wednesday morning. The firm issued a neutral rating on the real estate investment trust’s stock.

Other equities research analysts also recently issued research reports about the stock. Credit Suisse Group AG restated a buy rating and issued a $17.00 price target on shares of New Residential Investment Corp. in a research report on Sunday, September 11th. Zacks Investment Research upgraded shares of New Residential Investment Corp. from a sell rating to a hold rating in a research report on Thursday, August 11th. Wedbush started coverage on shares of New Residential Investment Corp. in a research report on Wednesday, October 5th. They issued an outperform rating and a $17.00 price target for the company. Piper Jaffray Cos. restated an overweight rating and issued a $16.00 price target on shares of New Residential Investment Corp. in a research report on Friday, September 9th. Finally, Barclays PLC upped their price target on shares of New Residential Investment Corp. from $15.00 to $16.00 and gave the company an overweight rating in a research report on Wednesday, August 10th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $15.54.

New Residential Investment Corp. (NYSE:NRZ) opened at 13.92 on Wednesday. New Residential Investment Corp. has a 12-month low of $9.07 and a 12-month high of $14.89. The company’s 50 day moving average is $14.02 and its 200 day moving average is $13.54. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of 9.51 and a beta of 0.94.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 28th. Stockholders of record on Monday, October 3rd were paid a dividend of $0.46 per share. The ex-dividend date was Thursday, September 29th. This represents a $1.84 annualized dividend and a dividend yield of 13.22%. New Residential Investment Corp.’s dividend payout ratio (DPR) is 125.17%.

Several hedge funds and other institutional investors have recently made changes to their positions in NRZ. Vanguard Group Inc. raised its position in shares of New Residential Investment Corp. by 3.1% in the second quarter. Vanguard Group Inc. now owns 16,287,065 shares of the real estate investment trust’s stock valued at $225,413,000 after buying an additional 489,370 shares during the period. BlackRock Fund Advisors raised its position in shares of New Residential Investment Corp. by 11.5% in the second quarter. BlackRock Fund Advisors now owns 10,828,640 shares of the real estate investment trust’s stock valued at $149,868,000 after buying an additional 1,120,812 shares during the period. Citigroup Inc. raised its position in shares of New Residential Investment Corp. by 2.8% in the second quarter. Citigroup Inc. now owns 8,330,259 shares of the real estate investment trust’s stock valued at $115,291,000 after buying an additional 230,819 shares during the period. Vaughan Nelson Investment Management L.P. raised its position in shares of New Residential Investment Corp. by 11.6% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 7,319,950 shares of the real estate investment trust’s stock valued at $101,308,000 after buying an additional 758,875 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of New Residential Investment Corp. by 2.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 6,048,004 shares of the real estate investment trust’s stock valued at $70,338,000 after buying an additional 128,227 shares during the period. Institutional investors own 53.52% of the company’s stock.

About New Residential Investment Corp.

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