Today’s Market Runner: New Residential Investment Corp Increases Again; Strong Momentum for Buyers

Today's Market Runner: New Residential Investment Corp Increases Again; Strong Momentum for Buyers

The stock of New Residential Investment Corp (NYSE:NRZ) is a huge mover today! The stock last traded at $14.22 per share. It is down 22.06% since April 11, 2016 and is uptrending. It has outperformed by 15.91% the S&P500.
The move comes after 9 months positive chart setup for the $3.56 billion company. It was reported on Nov, 11 by Barchart.com. We have $23.32 PT which if reached, will make NYSE:NRZ worth $2.28 billion more.

New Residential Investment Corp (NYSE:NRZ) Ratings Coverage

Out of 7 analysts covering New Residential Investment Corp (NYSE:NRZ), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. New Residential Investment Corp has been the topic of 10 analyst reports since August 12, 2015 according to StockzIntelligence Inc. The stock of New Residential Investment Corp (NYSE:NRZ) has “Sell” rating given on Wednesday, August 12 by Zacks. FBR Capital maintained New Residential Investment Corp (NYSE:NRZ) rating on Thursday, February 25. FBR Capital has “Outperform” rating and $15.50 price target. The company was reinitiated on Friday, September 9 by Piper Jaffray. Compass Point downgraded the shares of NRZ in a report on Wednesday, May 18 to “Neutral” rating. The firm has “Overweight” rating given on Wednesday, August 10 by Barclays Capital. The rating was initiated by JMP Securities with “Mkt Outperform” on Wednesday, December 23. Nomura initiated New Residential Investment Corp (NYSE:NRZ) on Wednesday, October 26 with “Neutral” rating. The firm has “Overweight” rating given on Monday, October 19 by Piper Jaffray. The rating was initiated by Wedbush on Thursday, October 6 with “Outperform”.

According to Zacks Investment Research, “New Residential Investment Corp. is a real estate investment trust. It focuses on investing in, and actively managing, investments related to residential real estate. The Company primarily target investments in excess mortgage servicing rights, residential mortgage backed securities, residential mortgage loans and other related investments. New Residential Investment Corp. is based in New York.”

Insitutional Activity: The institutional sentiment decreased to 0.92 in Q2 2016. Its down 0.04, from 0.96 in 2016Q1. The ratio dropped, as 38 funds sold all New Residential Investment Corp shares owned while 66 reduced positions. 28 funds bought stakes while 68 increased positions. They now own 127.17 million shares or 8.82% less from 139.48 million shares in 2016Q1.
C M Bidwell Associate Limited has 0.05% invested in the company for 15,260 shares. Crawford Inv Counsel accumulated 0.01% or 20,710 shares. The Texas-based Argentus Capital Mngmt Llc has invested 0.05% in New Residential Investment Corp (NYSE:NRZ). Blackrock Investment Mgmt Ltd Liability Com holds 0.02% of its portfolio in New Residential Investment Corp (NYSE:NRZ) for 932,254 shares. Next Fincl holds 6,209 shares or 0.03% of its portfolio. Hbk Investments L P accumulated 0% or 22,000 shares. Virginia Retirement Et Al holds 0% or 11,000 shares in its portfolio. 683 Lc accumulated 654,305 shares or 1.44% of the stock. The Georgia-based Earnest Prtn has invested 0% in New Residential Investment Corp (NYSE:NRZ). Fmr Limited Co holds 2.14 million shares or 0% of its portfolio. Alliancebernstein L P accumulated 1.96 million shares or 0.02% of the stock. Wells Fargo And Com Mn has 612,337 shares for 0% of their US portfolio. California Employees Retirement Systems has 535,950 shares for 0.01% of their US portfolio. The Illinois-based Northern has invested 0.01% in New Residential Investment Corp (NYSE:NRZ). The Florida-based Raymond James And Associates has invested 0.01% in New Residential Investment Corp (NYSE:NRZ).

NRZ Company Profile

New Residential Investment Corp., incorporated on September 26, 2011, is a real estate investment trust (REIT). The Firm is focused on investing in, and managing, investments related to residential real estate. The Firm conducts its business through the divisions, which include investments in excess mortgage servicing rights (MSRs), investments in servicer advances, investments in real estate securities, investments in real estate loans, investments in consumer loans and corporate. The Company’s portfolio is composed of servicing related assets, residential securities and loans, and other investments.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment