Brokers expect New Residential Investment Corp. (NYSE:NRZ- Get a rating) will post sales of $241.55 million for the current quarter, Zacks reports. Two analysts released earnings estimates for New Residential Investment, with estimates ranging from $237.00 million to $246.10 million. New residential investment recorded sales of $147.14 million in the same quarter last year, suggesting a positive year-over-year growth rate of 64.2%. The company is expected to release its next quarterly results on Monday, January 1.
According to Zacks, analysts expect New Residential Investment to report full-year sales of $989.10 million for the current year, with estimates ranging from $988.20 million to $990.00 million. of dollars. For the next fiscal year, analysts expect the company to report sales of $1.16 billion, with estimates ranging from $1.02 billion to $1.30 billion. Zacks sales calculations are an average average based on a survey of analysts who provide coverage for new residential investments.
New Residential Investment (NYSE:NRZ – Get a rating) last reported results on Tuesday, May 3. The real estate investment trust reported EPS of $0.37 for the quarter, beating analyst consensus estimates of $0.35 by $0.02. The new residential investment had a return on equity of 14.19% and a net margin of 28.82%. During the same period of the previous year, the company achieved EPS of $0.34.
A number of equity research analysts have recently commented on NRZ shares. Raymond James raised its price target on new residential investments from $13.00 to $13.50 and gave the stock an “outperform” rating in a Tuesday, March 29 research report. Zacks Investment Research downgraded New Residential Investment from a “hold” rating to a “sell” rating in a Thursday, February 17 research report. StockNews.com assumed coverage on new residential investment in a research report on Thursday, March 31. They have set a “holding” rating on the stock. Finally, Piper Sandler downgraded New Residential Investment from an “overweight” rating to a “neutral” rating and set a price target of $12.00 for the stock. in a research report Thursday. One financial analyst gave the stock a sell rating, two gave the stock a hold rating and six gave the stock a buy rating. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $12.50.
A number of large investors have recently changed their positions in NRZ. Metropolitan Life Insurance Co NY increased its stake in New Residential Investment by 9.3% in the first quarter. Metropolitan Life Insurance Co NY now owns 9,747 shares of the real estate investment trust worth $164,000 after buying 828 additional shares in the last quarter. FMR LLC increased its stake in New Residential Investment by 62.2% in the first quarter. FMR LLC now owns 779,914 shares of the real estate investment trust worth $13,189,000 after purchasing an additional 299,097 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its stake in New Residential Investment by 50.8% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 250,386 shares of the real estate investment trust worth $4,234,000 after buying an additional 84,355 shares last quarter. Morgan Stanley increased its stake in New Residential Investment by 40.6% in the second quarter. Morgan Stanley now owns 2,770,097 shares of the real estate investment trust worth $29,335,000 after buying an additional 800,566 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in New Residential Investment in the third quarter worth approximately $479,000. 46.48% of the shares are currently held by institutional investors.
NYSE:NRZ opened at $11.13 on Monday. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt ratio of 0.10. The company has a market capitalization of $5.20 billion, a P/E ratio of 4.92 and a beta of 1.67. New Residential Investment has a 12-month low of $8.98 and a 12-month high of $11.81. The company’s 50-day moving average is $10.59 and its 200-day moving average is $10.81.
The company also recently announced a quarterly dividend, which was paid on Friday, April 29. Shareholders of record on Monday April 4 received a dividend of $0.25 per share. The ex-dividend date was Friday, April 1. This represents a dividend of $1.00 on an annualized basis and a dividend yield of 8.98%. The New Residential Investment dividend distribution rate is 44.25%.
New Home Investment Business Profile (Get a rating)
New Residential Investment Corp. operates as a real estate investment trust in the United States. It operates through Origination, Servicing, MSR Related Investments, Residential Securities, Properties and Loans, Consumer Loans, Mortgage Loans and Corporate segments. The Company invests in mortgage servicing rights, mortgage origination and servicing companies, residential mortgage-backed securities, property and loans, consumer loans and other opportunistic investments.
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