New Residential Investment (NRZ) has risen sharply, recording gains of 4% in the past 4 weeks. However, the stock has corrected -0.71% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 3.61% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
New Residential Investment Corp. is up 8.86% in the last 3-month period. Year-to-Date the stock performance stands at 24.14%. The stock has recorded a 20-day Moving Average of 0.58% and the 50-Day Moving Average is 4.59%.
New Residential Investment (NYSE:NRZ): The stock opened at $14.08 on Friday but the bulls could not build on the opening and the stock topped out at $14.10 for the day. The stock traded down to $13.90 during the day, due to lack of any buying support eventually closed down at $14.03 with a loss of -0.36% for the day. The stock had closed at $14.08 on the previous day. The total traded volume was 2,241,677 shares.
Also, Brokerage firm Barclays maintains its rating on New Residential Investment (NYSE:NRZ). As per the latest information, the brokerage house raises the price target to $16 per share from a prior target of $15. The shares have been rated Overweight. The rating by the firm was issued on August 10, 2016.
New Residential Investment Corp. (New Residential) is a publicly traded real estate investment trust. The Company is focused on investing and managing residential real estate investments. Its portfolio consists of servicing related assets, residential securities and loans and other investments. Its business segments include: Excess Mortgage Servicing Rights (Excess MSRs), Servicer Advances, Real Estate Securities, Real Estate Loans, Consumer Loans and Corporate. It has acquired Excess MSRs on residential mortgage loans with an aggregate unpaid principal balance (UPB) as of December 31, 2014 of approximately $248.7 billion. It acquires and manages a portfolio of credit sensitive real estate securities, including Non-Agency and Agency residential mortgage backed securities (RMBS). It has acquired residential mortgage loans, including performing, non-performing, re-performing and reverse mortgage loans.