New Residential Investment Corp. (NYSE:NRZ) – Stock analysts at FBR & Co lifted their FY2017 earnings per share estimates for shares of New Residential Investment Corp. in a research report issued to clients and investors on Monday. FBR & Co analyst J. Levi-Ribner now forecasts that the real estate investment trust will post earnings per share of $2.74 for the year, up from their previous estimate of $2.61. FBR & Co currently has a “Buy” rating and a $19.25 target price on the stock.

New Residential Investment Corp. (NYSE:NRZ) last released its earnings results on Friday, October 27th. The real estate investment trust reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.08. New Residential Investment Corp. had a return on equity of 20.02% and a net margin of 60.06%. The company had revenue of $331.38 million for the quarter, compared to the consensus estimate of $291.66 million. During the same quarter last year, the business posted $0.51 EPS. New Residential Investment Corp.’s quarterly revenue was up 72.1% compared to the same quarter last year. COPYRIGHT VIOLATION WARNING: “Brokers Issue Forecasts for New Residential Investment Corp.’s FY2017 Earnings (NRZ)” was posted by TheOlympiaReport and is the property of of TheOlympiaReport. If you are accessing this story on another site, it was illegally copied and republished in violation of international copyright law. The correct version of this story can be accessed at https://theolympiareport.com/2017/11/02/brokers-issue-forecasts-for-new-residential-investment-corp-s-fy2017-earnings-nrz.html.

Other equities analysts have also issued reports about the company. Vetr lowered New Residential Investment Corp. from a “hold” rating to a “sell” rating and set a $16.55 price target on the stock. in a research note on Wednesday, August 2nd. BidaskClub upgraded New Residential Investment Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. ValuEngine lowered New Residential Investment Corp. from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 15th. Keefe, Bruyette & Woods restated a “buy” rating and set a $18.00 price target on shares of New Residential Investment Corp. in a research note on Thursday, September 14th. Finally, Zacks Investment Research upgraded New Residential Investment Corp. from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $17.56.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Monday, October 2nd were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 11.34%. The ex-dividend date of this dividend was Friday, September 29th. New Residential Investment Corp.’s payout ratio is currently 64.72%.

Several institutional investors and hedge funds have recently made changes to their positions in NRZ. TCI Wealth Advisors Inc. boosted its holdings in shares of New Residential Investment Corp. by 203.0% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 6,060 shares of the real estate investment trust’s stock worth $101,000 after acquiring an additional 4,060 shares in the last quarter. IFP Advisors Inc boosted its holdings in shares of New Residential Investment Corp. by 9.6% in the 2nd quarter. IFP Advisors Inc now owns 7,194 shares of the real estate investment trust’s stock worth $112,000 after acquiring an additional 629 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in shares of New Residential Investment Corp. by 8.4% in the 2nd quarter. Penserra Capital Management LLC now owns 7,631 shares of the real estate investment trust’s stock worth $118,000 after acquiring an additional 593 shares in the last quarter. Public Employees Retirement Association of Colorado acquired a new position in shares of New Residential Investment Corp. in the 2nd quarter worth approximately $150,000. Finally, Laurion Capital Management LP acquired a new position in shares of New Residential Investment Corp. in the 2nd quarter worth approximately $166,000. 48.10% of the stock is currently owned by institutional investors and hedge funds.

New Residential Investment Corp. Company Profile

New Residential Investment Corp. is a real estate investment trust (REIT). The Company focuses on investing in, and managing, investments related to residential real estate. The Company’s segments include investments in excess mortgage servicing rights (Excess MSRs); investments in mortgage servicing rights (MSRs); investments in servicer advances; investments in real estate securities; investments in residential mortgage loans; investments in consumer loans, and corporate.

Earnings History and Estimates for New Residential Investment Corp. (NYSE:NRZ)

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