New Residential Investment Corp. (NYSE:NRZ) to Post Q2 2022 Earnings of $0.38 Per Share, Piper Sandler Forecasts

0

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.

Featured Articles

Earnings history and new residential investment estimates (NYSE:NRZ)

This instant news alert was powered by MarketBeat’s storytelling science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Should you invest $1,000 in a new residential investment right now?

Before you consider a new home investment, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and New Residential Investment didn’t make the list.

Although New Residential Investment currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the 5 actions here

Share.

About Author

Comments are closed.