Wall Street brokerages expect New Residential Investment Corp. (NYSE:NRZ – Get Rating) to post earnings per share of $0.34 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for New Residential Investment’s earnings. The highest EPS estimate is $0.35 and the lowest is $0.33. New Residential Investment reported earnings of $0.31 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 9.7%. The firm is scheduled to announce its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that New Residential Investment will report full year earnings of $1.38 per share for the current year, with EPS estimates ranging from $1.26 to $1.48. For the next year, analysts expect that the company will post earnings of $1.59 per share, with EPS estimates ranging from $1.50 to $1.75. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow New Residential Investment.
New Residential Investment (NYSE:NRZ – Get Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. New Residential Investment had a return on equity of 13.84% and a net margin of 28.82%. During the same period in the previous year, the company earned $0.34 EPS.
NRZ has been the subject of a number of analyst reports. Raymond James upped their price objective on New Residential Investment from $13.00 to $13.50 and gave the stock an “outperform” rating in a research note on Tuesday, March 29th. Piper Sandler downgraded shares of New Residential Investment from an “overweight” rating to a “neutral” rating and set a $12.00 target price for the company. in a report on Thursday, May 5th. StockNews.com upgraded shares of New Residential Investment from a “hold” rating to a “buy” rating in a report on Monday, May 9th. Finally, Zacks Investment Research downgraded shares of New Residential Investment from a “hold” rating to a “sell” rating in a report on Thursday, February 17th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. According to MarketBeat, New Residential Investment presently has an average rating of “Buy” and an average price target of $12.50.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Metropolitan Life Insurance Co NY increased its holdings in shares of New Residential Investment by 9.3% during the first quarter. Metropolitan Life Insurance Co NY now owns 9,747 shares of the real estate investment trust’s stock valued at $164,000 after acquiring an additional 828 shares in the last quarter. M&R Capital Management Inc. increased its holdings in shares of New Residential Investment by 2.6% during the first quarter. M&R Capital Management Inc. now owns 39,120 shares of the real estate investment trust’s stock valued at $429,000 after acquiring an additional 1,000 shares in the last quarter. Fort Sheridan Advisors LLC increased its holdings in shares of New Residential Investment by 0.9% during the first quarter. Fort Sheridan Advisors LLC now owns 118,418 shares of the real estate investment trust’s stock valued at $1,300,000 after acquiring an additional 1,000 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in New Residential Investment by 2.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 38,327 shares of the real estate investment trust’s stock worth $410,000 after buying an additional 1,010 shares during the period. Finally, Catalyst Capital Advisors LLC increased its holdings in New Residential Investment by 6.8% in the 4th quarter. Catalyst Capital Advisors LLC now owns 16,100 shares of the real estate investment trust’s stock worth $172,000 after buying an additional 1,020 shares during the period. Hedge funds and other institutional investors own 46.48% of the company’s stock.
Shares of NYSE NRZ opened at $11.27 on Friday. New Residential Investment has a 12-month low of $8.98 and a 12-month high of $11.81. The stock’s fifty day simple moving average is $10.74 and its two-hundred day simple moving average is $10.75. The stock has a market capitalization of $5.26 billion, a PE ratio of 4.99 and a beta of 1.67. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.09.
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 29th. Stockholders of record on Monday, April 4th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, April 1st. This represents a $1.00 annualized dividend and a dividend yield of 8.87%. New Residential Investment’s dividend payout ratio (DPR) is currently 44.25%.
New Residential Investment Company Profile (Get 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, properties and loans, consumer loans, and other opportunistic investments.
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