New Residential Investment Corp (NRZ) was Downgraded by Compass Point to ” Neutral” and the brokerage firm has set the Price Target at $15. Earlier the firm had a rating of “Buy ” on the company shares. Compass Point advised their investors in a research report released on May 18, 2016.
Many Wall Street Analysts have commented on New Residential Investment Corp. Shares were Reiterated by Compass Point on Mar 9, 2016 to “Buy” and Lowered the Price Target to $ 15 from a previous price target of $16 .Shares were Reiterated by FBR Capital on Feb 25, 2016 to “Outperform” and Lowered the Price Target to $ 15.50 from a previous price target of $21 .
On the company’s financial health, New Residential Investment Corp reported $0.49 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on May 4, 2016. Analyst had a consensus of $0.50.Analysts expectations of $ 138.01.During the same quarter in the previous year, the company posted $0.44 EPS.
New Residential Investment Corp opened for trading at $13.32 and hit $13.43 on the upside on Monday, eventually ending the session at $13.39, with a gain of 0.37% or 0.05 points. The heightened volatility saw the trading volume jump to 20,70,568 shares. Company has a market cap of $3,086 M.
In a different news, on Jun 16, 2015, Michael Nierenberg (CEO) purchased 9,100 shares at $16.05 per share price. According to the SEC, on Jun 15, 2015, Wesley R Edens (director) sold 3,245,764 shares at $15.88 per share price. On May 14, 2015, Alan L. Tyson (director) purchased 20,000 shares at $16.85 per share price, according to the Form-4 filing with the securities and exchange commission.
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.