New Residential Investment Corp (NRZ) Upgraded to Buy by Zacks Investment Research

New Residential Investment Corp (NRZ) Upgraded to Buy by Zacks Investment Research

New Residential Investment Corp (NRZ) Upgraded to Buy by Zacks Investment Research

I have no business relationship with any company whose stock is mentioned in this article. Bank of Montreal Can increased its stake in New Residential Investment Corp by 433.8% in the third quarter. Meeder Asset Management Inc. bought a new stake in New Residential Investment Corp during the third quarter valued at $516,000. Finally, Teachers Advisors LLC boosted its stake in shares of New Residential Investment Corp by 326.1% in the fourth quarter. Chicago Equity Partners LLC now owns 330,730 shares of the real estate investment trust's stock valued at $4,567,000 after buying an additional 114,750 shares during the last quarter.

Having a price of $16.39, New Residential Investment Corp (NYSE:NRZ) traded -7.66% lower on the day. Vetr cut shares of New Residential Investment Corp from a "buy" rating to a "hold" rating and set a $17.92 price objective on the a research note on Tuesday, April 11th.

Currently, the stock carries a price to earnings ratio of 0, a price to book ratio of 1.34, and a price to sales ratio of 0.09. Shares are trading 6.76% above their 50-day moving average, and 21.92% below their 200-day moving average.

NRZ was trading -0.17% below its 52-week high and 69.26% above its 52-week low.

At the beginning of the year I have singled out New Residential Investment my "top income pick for 2017". The real estate investment trust reported $0.62 earnings per share for the quarter, beating the Zacks' consensus estimate of $0.55 by $0.07. For NRZ, the company now has $453.7 Million of cash on the books, which is offset by $ current liabilities.

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Now the P/E of New Residential Investment Corp. stands at 8.48.

The company's expected revenue in the current quarter to be 185.13 Million, seeing a projected current quarter growth of 8.2%, and per annum growth estimates over the next 5 year period of around 0.63%. On average, equities analysts predict that New Residential Investment Corp will post $2.11 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 28th. (NRZ) is a good investment, however if the market is weaker then it could suggest that the shares are undervalued. This represents a $1.92 annualized dividend and a dividend yield of 10.82%.

04/20/2015 - Bank of America Merrill Lynch began new coverage on New Residential Investment Corp. giving the company a "buy" rating. New Residential Investment Corp's dividend payout ratio is 112.20%.

In related news, CEO Michael Nierenberg purchased 18,600 shares of New Residential Investment Corp stock in a transaction that occurred on Friday, February 3rd. If you are viewing this piece of content on another publication, it was illegally stolen and republished in violation of worldwide trademark and copyright legislation.

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Several brokerages recently commented on NRZ. The Relative Volume value measured for New Residential Investment Corp.

01/19/2016 - New Residential Investment Corp. had its " rating reiterated by analysts at Barclays.

Shares of the mortgage investment company have risen ~13 percent year-to-date. Keefe, Bruyette & Woods restated an "outperform" rating on shares of New Residential Investment Corp in a report on Monday, February 6th. Compass Point upgraded New Residential Investment Corp from a "neutral" rating to a "buy" rating in a report on Tuesday, January 31st. New Residential Investment Corp has an average rating of Buy and a consensus price target of $16.71. These analysts and investment firms use various valuation methods to decide a price target for a stock. The stock was acquired at an average cost of $15.00 per share, with a total value of $279,000.00. Following the transaction, the chief executive officer now owns 935,352 shares in the company, valued at approximately $14,030,280. I am largely investing in dividend paying stocks, but also venture out occasionally and cover special situations that offer appealing reward-to-risk ratios and have potential for significant capital appreciation.

Now the shares of New Residential Investment Corp. The forecast of 9 surveyed investment analysts covering the stock advises investors to Buy stake in the company.

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