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Published: Sat, February 25, 2017
Economy | By Melissa Porter

New Residential Investment Corp. (NYSE:NRZ) Earns Average Broker Rating Of Outperform


Many Analysts provided their foresight on Revenue Estimates of New Residential Investment Corp. where they believe that the company has the potential to earn average revenue of $168.58 Million for the current quarter. TheStreet raised New Residential Investment Corp. from a "hold" rating to a "buy" rating in a research report on Tuesday, November 15th. Keefe, Bruyette & Woods reiterated an "outperform" rating on shares of New Residential Investment Corp.in a report on Monday, February 6th. Nomura assumed coverage on New Residential Investment Corp.in a report on Wednesday, October 26th.

New Residential Investment Corp.is a real estate investment trust (REIT). One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The New York-based company said it had net income of 90 cents per share.

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FT reports, The 10 analysts offering 12 month price targets for New Residential Investment Corp have a median target of 17.00, with a high estimate of 17.50 and a low estimate of 16.00. (NYSE:NRZ) last announced results for quarter ended on 31 Dec 2016, disclosing EPS of $0.62. (NRZ) now trades with a market capitalization of $5.02 Billion. The analysts, on average, are forecasting a $16.95 price target, but the stock is already up 85.1% from its recent lows. The real estate investment trust reported $0.62 earnings per share for the quarter, beating the Zacks' consensus estimate of $0.55 by $0.07. The new dividend will be paid to shareholders on April 28, 2017 with a record date of March 27, 2017. This represents a $1.92 dividend on an annualized basis and a dividend yield of 11.52%. New Residential Investment pulled in $2.14/share in core earnings in 2016, while paying out $1.84/share in dividends. New Residential Investment Corp.'s dividend payout ratio is now 112.20%.

In related news, Director Andrew Sloves purchased 13,200 shares of the stock in a transaction on Friday, November 11th. Studies indicate that the stock prices of firms with significant positive earnings surprises show above-average performance, while those with negative surprises have below-average performance. The company's institutional ownership is monitored at 57.3 percent. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

As most professionals know, technical analysis can offer critical insights into what smart money and insiders think about a stock's prospects going forward.

Institutional investors have recently added to or reduced their stakes in the stock. Baldwin Brothers Inc. MA bought a new position in shares of New Residential Investment Corp. during the third quarter valued at $110,000. Vanguard Group Inc. now owns 16,287,065 shares of the real estate investment trust's stock worth $225,413,000 after buying an additional 489,370 shares during the period.

The important takeaway here is this: New Residential Investment has consistently overearned its dividend in the last six quarters, allowing management to do one of three things: 1. That dividend hike didn't happen, but the company made up for it by finally increasing its 1st quarter 2017 dividend by $0.02/share to $0.48/share. Finally, NEXT Financial Group Inc increased its position in New Residential Investment Corp.by 19.3% in the third quarter. Recently, investment analysts covering the stock have updated the mean rating to 1.7. I have no business relationship with any company whose stock is mentioned in this article. The Company is focused on investing in, and managing, investments related to residential real estate.

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