Q2 2022 EPS estimates for New Residential Investment Corp. cut by Wedbush (NYSE:NRZ)

New Residential Investment Corp. (NYSE:NRZ- Get a rating) – Wedbush equity research analysts lowered their second-quarter 2022 EPS estimates for New Residential Investment shares in a report released Tuesday, May 10. Wedbush analyst H. Coffey now expects the real estate investment trust to post earnings per share of $0.34 for the quarter, down from its previous forecast of $0.35. New Residential Investment (NYSE:NRZ – Get a rating) last reported quarterly earnings data on Tuesday, May 3. The real estate investment trust reported earnings per share of $0.37 for the quarter, beating consensus analyst estimates of $0.35 by $0.02. New Residential Investments had a return on equity of 14.19% and a net margin of 28.82%. During the same period last year, the company posted EPS of $0.34.

NRZ has been the subject of several other reports. Raymond James raised its price target on new residential investments from $13.00 to $13.50 and gave the company an “outperform” rating in a Tuesday, March 29 report. Piper Sandler downgraded New Residential Investment from an “overweight” rating to a “neutral” rating and set a price target of $12.00 for the company. in a report on Thursday, May 5. StockNews.com moved shares of New Residential Investment from a “hold” rating to a “buy” rating in a research report on Monday. To finish, Zacks Investment Research cut shares of New Residential Investment from a “hold” rating to a “sell” rating in a Thursday, Feb. 17 research report. One research analyst has assigned the stock a sell rating, one has assigned a hold rating and seven have assigned the company a buy rating. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $12.50.

NRZ stock opened at $10.90 on Wednesday. The new residential investment has a 1-year low of $8.98 and a 1-year high of $11.81. The company has a debt ratio of 0.10, a quick ratio of 0.53 and a current ratio of 0.53. The stock’s 50-day moving average price is $10.61 and its 200-day moving average price is $10.81. The company has a market capitalization of $5.09 billion, a P/E ratio of 4.82 and a beta of 1.67.

The company also recently announced a quarterly dividend, which was paid on Friday, April 29. Investors of record on Monday, April 4 received a dividend of $0.25 per share. This represents a dividend of $1.00 on an annualized basis and a yield of 9.17%. The ex-dividend date was Friday, April 1. The New Residential Investment payout rate is 44.25%.

A number of large investors have recently changed their stock holdings. Mirae Asset Global Investments Co. Ltd. increased its holdings of new residential investment by 1,507.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,259,186 shares of the real estate investment trust worth $13,826,000 after purchasing an additional 1,180,866 shares in the last quarter. Alpine Woods Capital Investors LLC acquired a new stake in New Residential Investment during the first quarter for a value of approximately $1,482,000. The North Carolina State Treasurer increased its holdings in new residential investment by 1.6% in the first quarter. The North Carolina state treasurer now owns 159,407 shares of the real estate investment trust worth $1,750,000 after buying 2,528 more shares last quarter. Advisors Capital Management LLC increased its holdings in New Residential Investment by 61.6% during the first quarter. Advisors Capital Management LLC now owns 1,988,693 shares of the real estate investment trust worth $21,836,000 after purchasing an additional 758,276 shares in the last quarter. Finally, Western Wealth Management LLC acquired a new stake in New Residential Investment during the first quarter worth approximately $214,000. Hedge funds and other institutional investors own 46.48% of the company’s shares.

New Home Investment Business Profile (Get a rating)

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, property and loans, consumer loans and other opportunistic investments.

Further reading

Earnings history and new residential investment estimates (NYSE:NRZ)

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