New Residential Investment (NYSE:NRZ) Sees Strong Trading Volume

New Residential Investment Corp. (NYSE:NRZGet Rating) shares saw unusually-high trading volume on Tuesday . Approximately 386,641 shares were traded during mid-day trading, a decline of 94% from the previous session’s volume of 6,852,563 shares.The stock last traded at $9.39 and had previously closed at $8.65.

NRZ has been the subject of several research reports. Raymond James raised their price objective on shares of New Residential Investment from $13.00 to $13.50 and gave the company an “outperform” rating in a research report on Tuesday, March 29th. StockNews.com raised shares of New Residential Investment from a “hold” rating to a “buy” rating in a research note on Monday, May 9th. Finally, Piper Sandler lowered shares of New Residential Investment from a “neutral” rating to an “underweight” rating and cut their price target for the company from $12.00 to $10.00 in a research note on Monday, June 13th. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $12.20.

The company’s 50-day moving average is $10.63 and its two-hundred day moving average is $10.66. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.44 and a quick ratio of 0.44. The firm has a market cap of $4.35 billion, a P/E ratio of 3.83 and a beta of 1.66.

New Residential Investment (NYSE:NRZGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, beating 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 prior year, the company earned $0.34 earnings per share. On average, analysts expect that New Residential Investment Corp. will post 1.16 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Friday, July 1st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 10.74%. The ex-dividend date of this dividend is Thursday, June 30th. New Residential Investment’s dividend payout ratio is presently 44.25%.

Several hedge funds have recently made changes to their positions in NRZ. Metropolitan Life Insurance Co NY grew its position in shares of New Residential Investment by 9.3% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 9,747 shares of the real estate investment trust’s stock worth $164,000 after buying an additional 828 shares during the period. FMR LLC lifted its holdings in shares of New Residential Investment by 62.2% in the 1st quarter. FMR LLC now owns 779,914 shares of the real estate investment trust’s stock worth $13,189,000 after purchasing an additional 299,097 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of New Residential Investment by 50.8% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 250,386 shares of the real estate investment trust’s stock worth $4,234,000 after purchasing an additional 84,355 shares in the last quarter. Morgan Stanley lifted its holdings in shares of New Residential Investment by 40.6% in the 2nd quarter. Morgan Stanley now owns 2,770,097 shares of the real estate investment trust’s stock worth $29,335,000 after purchasing an additional 800,566 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of New Residential Investment by 14.0% in the 3rd quarter. Royal Bank of Canada now owns 1,851,644 shares of the real estate investment trust’s stock worth $20,368,000 after purchasing an additional 227,539 shares in the last quarter. 46.48% of the stock is owned by institutional investors.

About New Residential Investment (NYSE:NRZ)

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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