New Residential Investment (NYSE:NRZ) was downgraded by stock analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Tuesday. They currently have a $18.60 price objective on the real estate investment trust’s stock. Vetr‘s price objective would indicate a potential upside of 11.78% from the company’s previous close.

Other equities analysts have also issued research reports about the company. B. Riley restated a “buy” rating on shares of New Residential Investment in a research note on Wednesday, November 1st. ValuEngine lowered New Residential Investment from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 2nd. FBR & Co reiterated a “buy” rating and issued a $19.25 target price on shares of New Residential Investment in a research note on Monday, October 30th. Wedbush upgraded New Residential Investment from a “neutral” rating to an “outperform” rating and set a $20.00 target price on the stock in a research note on Thursday, January 18th. Finally, Zacks Investment Research lowered New Residential Investment from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. New Residential Investment currently has a consensus rating of “Buy” and a consensus price target of $18.64.

New Residential Investment (NYSE:NRZ) opened at $16.64 on Tuesday. The company has a market capitalization of $5,530.00, a price-to-earnings ratio of 5.39 and a beta of 0.92. New Residential Investment has a 52 week low of $15.04 and a 52 week high of $18.43.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its stake in New Residential Investment by 1.2% in the third quarter. Bank of New York Mellon Corp now owns 2,872,643 shares of the real estate investment trust’s stock valued at $48,058,000 after purchasing an additional 32,892 shares during the last quarter. Bank of Montreal Can grew its stake in shares of New Residential Investment by 535.6% during the fourth quarter. Bank of Montreal Can now owns 2,640,397 shares of the real estate investment trust’s stock worth $47,210,000 after acquiring an additional 2,225,000 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of New Residential Investment by 6.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,849,926 shares of the real estate investment trust’s stock worth $33,077,000 after acquiring an additional 114,960 shares during the last quarter. American Assets Capital Advisers LLC grew its stake in shares of New Residential Investment by 35.6% during the fourth quarter. American Assets Capital Advisers LLC now owns 1,479,504 shares of the real estate investment trust’s stock worth $26,453,000 after acquiring an additional 388,234 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of New Residential Investment by 56.0% during the third quarter. First Trust Advisors LP now owns 1,346,443 shares of the real estate investment trust’s stock worth $22,526,000 after acquiring an additional 483,316 shares during the last quarter. Institutional investors own 45.28% of the company’s stock.

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New Residential Investment 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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for New Residential Investment (NYSE:NRZ)

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