The brokerages expect New Residential Investment Corp. (NYSE:NRZ) to Report Quarterly Sales of $211.40 Million
Stock analysts expect New Residential Investment Corp. (NYSE:NRZ) reports sales of $211.40 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts released earnings estimates for New Residential Investment. The lowest sales estimate is $211.00 million and the highest is $211.80 million. New residential investment posted sales of $113.44 million in the same quarter last year, suggesting a positive year-over-year growth rate of 86.4%. The company is expected to release its next results on Tuesday, February 8.
According to Zacks, analysts expect New Residential Investment to report full-year sales of $909.40 million for the current year, with estimates ranging from $909.00 to $909.80 million. For the next fiscal year, analysts expect the company to post sales of $844.45 million, with estimates ranging from $804.90 million to $884.00 million. Zacks sales averages are an average average based on a survey of sell-side research analysts who track New Residential Investment.
New Residential Investment (NYSE:NRZ) last released its quarterly results on Monday, November 1. The real estate investment trust reported earnings per share (EPS) of $0.44 for the quarter, beating Thomson Reuters consensus estimate of $0.35 by $0.09. New Residential Investments had a return on equity of 13.53% and a net margin of 39.50%. In the same quarter last year, the company posted EPS of $0.31.
A number of stock analysts have weighed in on the company recently. Zacks Investment Research downgraded new residential investments from a “hold” rating to a “sell” rating in a Wednesday, Jan. 5 research report. Royal Bank of Canada raised its price target on new residential investments from $12.00 to $13.00 and gave the company an “outperform” rating in a Friday, November 19 research note. Barclays took up coverage of new residential investments in a Wednesday, September 29 research note. They issued an “overweight” rating on the stock. Wedbush reaffirmed an “outperform” rating on New Residential Investment shares in a Friday, Oct. 8 report. Finally, JMP Securities raised its price target on new residential investments from $11.00 to $11.50 and gave the stock a “market outperforming” rating in a Monday, October 18 report. One financial analyst assigned the stock a sell rating, one assigned a hold rating and eight assigned the company’s stock a buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $12.50.
NYSE:NRZ opened at $10.53 on Wednesday. The new residential investment has a 1-year low of $8.98 and a 1-year high of $11.81. The stock has a market capitalization of $4.91 billion, a price-earnings ratio of 7.69 and a beta of 1.85. The company has a fifty-day moving average of $10.95 and a 200-day moving average of $10.76. The company has a debt ratio of 0.10, a quick ratio of 0.54 and a current ratio of 0.54.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 28. Shareholders of record on Friday, December 31 will receive a dividend of $0.25. The ex-dividend date is Thursday, December 30. This represents an annualized dividend of $1.00 and a yield of 9.50%. The New Residential Investment dividend payout rate is 72.99%.
Separately, director Robert Mcginnis purchased 4,000 shares in a trade dated Tuesday, November 23. The shares were purchased at an average price of $25.18 per share, for a total transaction of $100,720.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. 0.57% of the shares are currently held by insiders of the company.
A number of large investors have recently changed their stock holdings. FMR LLC increased its position in New Residential Investment by 50.5% during the 2nd quarter. FMR LLC now owns 21,408,964 shares of the real estate investment trust worth $226,721,000 after purchasing an additional 7,181,622 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of New Residential Investment by 9.5% in Q2. Vanguard Group Inc. now owns 40,188,938 shares of the real estate investment trust valued at $425,601,000 after purchasing an additional 3,472,855 shares during the period. LSV Asset Management increased its equity stake in New Residential Investment by 71.4% in the third quarter. LSV Asset Management now owns 5,251,213 shares of the real estate investment trust worth $57,763,000 after purchasing an additional 2,187,816 shares during the period. The Canada Pension Plan Investment Board increased its stake in shares of New Residential Investment by 1,027.1% in the 2nd quarter. The Canada Pension Plan Investment Board now owns 2,168,100 shares of the real estate investment trust valued at $22,960,000 after purchasing an additional 1,975,746 shares during the period. Finally, Amundi acquired a new equity stake in New Residential Investment in the 2nd quarter valued at approximately $19,910,000. 46.11% of the shares are currently held by institutional investors and hedge funds.
About new residential investment
New Residential Investment Corp. is a real estate investment trust that focuses on the investment and active management of investments related to residential real estate. It operates through the following segments: Origination, Servicing, MSR Related Investments, Residential Securities & Lending, Consumer Lending and Corporate.
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