New Residential Investment Corp. (NYSE:NRZ) – Piper Sandler equity research analysts raised their second quarter 2022 earnings per share (EPS) estimates for New Residential Investment stock in a research report released Monday, February 14. Piper Sandler analyst K. Barker now expects the real estate investment trust to earn $0.38 per share for the quarter, up from its previous estimate of $0.37. Piper Sandler currently has an “overweight” rating and a target price of $12.00 on the stock. Piper Sandler also released estimates for New Residential Investment Q1 2023 earnings at $0.33 EPS, Q2 2023 earnings at $0.41 EPS, Q3 2023 earnings at $0.48 EPS, Q4 2023 at $0.42 EPS and FY2023 earnings at $1.64 EPS. New Residential Investment (NYSE:NRZ) last released its quarterly results on Tuesday, February 8. The real estate investment trust reported earnings per share of $0.40 for the quarter, meeting Thomson Reuters consensus estimate of $0.40. New Residential Investments had a return on equity of 13.53% and a net margin of 39.50%. The company posted revenue of $1.10 billion in the quarter, versus a consensus estimate of $984.90 million. During the same period a year earlier, the company posted EPS of $0.32. The company’s revenue for the quarter increased by 15.2% compared to the same quarter last year.
NRZ has been the subject of a number of other reports. StockNews.com downgraded New Residential Investment from a “buy” rating to a “hold” rating in a Wednesday, Feb. 9 research report. Royal Bank of Canada raised its target price on new residential investments from $12.00 to $13.00 and gave the company an “outperform” rating in a Friday, November 19 research report. Zacks Investment Research downgraded New Residential Investment from a “hold” rating to a “sell” rating in a Wednesday, Jan. 5 research report. Finally, JMP Securities raised its price target on new residential investments from $11.00 to $11.50 and gave the company a “market outperforming” rating in a Monday, October 18 research report. One stock research analyst rated the stock with a sell rating, two gave the company’s stock a hold rating and eight gave the company’s stock a buy rating. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $12.50.
NRZ stock opened at $10.51 on Tuesday. The new residential investment has a 1-year low of $8.98 and a 1-year high of $11.81. The company has a debt ratio of 0.10, a current ratio of 0.54 and a quick ratio of 0.54. The company has a market capitalization of $4.90 billion, a price-earnings ratio of 7.67 and a beta of 1.85. The company has a 50-day simple moving average of $10.82 and a two-hundred-day simple moving average of $10.84.
Several institutional investors and hedge funds have recently bought and sold shares of the company. DE Shaw & Co. Inc. increased its holdings in new residential investment by 1.3% in the fourth quarter. DE Shaw & Co. Inc. now owns 887,975 shares of the real estate investment trust worth $9,510,000 after acquiring an additional 11,597 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of New Residential Investment in the fourth quarter for a value of approximately $935,000. Deer Park Road Corp bought a new stock position in New Residential Investment in the fourth quarter at a value of approximately $9,733,000. Guggenheim Capital LLC increased its stake in shares of New Residential Investment by 23.0% in the fourth quarter. Guggenheim Capital LLC now owns 96,700 shares of the real estate investment trust worth $1,035,000 after purchasing an additional 18,108 shares in the last quarter. Finally, State Street Corp increased its position in New Residential Investment by 0.9% during the fourth quarter. State Street Corp now owns 7,125,641 shares of the real estate investment trust valued at $78,092,000 after acquiring an additional 63,205 shares last quarter. 46.11% of the shares are currently held by institutional investors and hedge funds.
Separately, director Robert Mcginnis purchased 4,000 shares of the company in a transaction dated Tuesday, November 23. The shares were acquired at an average price of $25.18 per share, with a total value of $100,720.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders of the company own 0.57% of the shares of the company.
The company also recently announced a quarterly dividend, which was paid on Friday, January 28. Shareholders of record on Friday, December 31 received a dividend of $0.25. The ex-dividend date was Thursday, December 30. This represents a dividend of $1.00 on an annualized basis and a yield of 9.51%. The New Residential Investment payout rate is 72.99%.
About new residential investment
New Residential Investment Corp. is a real estate investment trust that focuses on the investment and active management of investments related to residential real estate. It operates through the following segments: Origination, Servicing, MSR Related Investments, Residential Securities & Lending, Consumer Lending and Corporate.
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