New Residential Investment Corp. (NYSE:NRZ) Is Worth Evaluating At $11.03

During the recent session, New Residential Investment Corp. (NYSE:NRZ)’s traded shares were 1,730,810, with the beta value of the company hitting 1.95. At the last check, the stock’s price was $11.03, reflecting an intraday gain of 0.09% or $0.01. The 52-week high for the NRZ share is $11.48, that puts it down -4.08% from that peak though still a striking +66.46% gain since the share price plummeted to a 52-week low of $3.7. The company’s market capitalization is $4.57 Billion, and the average intraday trading volume over the past 10 days was 4.13 Million shares, and the average trade volume was 4.68 Million shares over the past three months.

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New Residential Investment Corp. (NRZ) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.6. NRZ has a Sell rating from none of the analyst(s) out of 13 analysts who have looked at this stock. Neither of the analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 12 recommend a Buy rating for it. None of the analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.39.

New Residential Investment Corp. (NYSE:NRZ): Trading Information

New Residential Investment Corp. (NRZ) registered a 0.09% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 2.39% in intraday trading to $11.29 this Monday, Apr 05, hitting a weekly high. The stock’s 5-day price performance is -2.04%, and it has moved by 3.67% in 30 days. Based on these gigs, the overall price performance for the year is 10.87%. The short interest in New Residential Investment Corp. (NYSE:NRZ) is 7.05 Million shares and it means that shorts have 1.51 day(s) to cover.

The consensus price target of analysts on Wall Street is $11.75, which implies an increase of 6.53% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $11 and $13.5 respectively. As a result, NRZ is trading at a discount of 22.39% off the target high and -0.27% off the low.

New Residential Investment Corp. (NRZ) projections and forecasts

Statistics show that New Residential Investment Corp. has outperformed its competitors in share price, compared to the industry in which it operates. New Residential Investment Corp. (NRZ) shares have gone up +32.13% during the last six months, with a year-to-date growth rate more than the industry average at 0% against -3.1%. Yet analysts are winding down their growth forecast for the fiscal year 2021. Revenue is predicted to decline -18.7% this quarter and then jump 5.9% in the quarter after that. In the rating firms’ projections, revenue will decline -15.8% compared to the previous financial year.

Revenue for the current quarter is expected to be $241.27 Million as predicted by 8 analyst(s). Meanwhile, a consensus of 8 analyst(s) estimates revenue growth to $231.64 Million by the end of June 2021. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $185.52 Million and $111.13 Million respectively. In this case, analysts expect current quarter sales to grow by 30.1% and then jump by 108.4% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings fell an estimated -36.1%. While earnings are projected to return -362.1% in 2021, the next five years will return -5.46% per annum.


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NRZ Dividend Yield

New Residential Investment Corp. is due to release its next quarterly earnings between May 03 and May 07, 2021. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for New Residential Investment Corp. is 0.8, with the dividend yield indicating at 7.26 percent, continuing the trend of increasing dividends in recent years. The average dividend yield of the company for the last 5 years is 12.69%.

New Residential Investment Corp. (NYSE:NRZ)’s Biggest Investors

New Residential Investment Corp. insiders own 0.47% of total outstanding shares while institutional holders control 48.83%, with the float percentage being 49.07%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 450 institutions own stock in it. As of Dec 30, 2020, the company held over 36.18 Million shares (or 8.72% of all shares), a total value of $359.58 Million in shares.

The next largest institutional holding, with 27.38 Million shares, is of Blackrock Inc.’s that is approximately 6.6% of outstanding shares. At the market price on Dec 30, 2020, these shares were valued at $272.18 Million.

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Also, the Mutual Funds coming in first place with the largest holdings of New Residential Investment Corp. (NRZ) shares are Fidelity Real Estate Income Fund and Vanguard Total Stock Market Index Fund. Data provided on Jan 30, 2021 indicates that Fidelity Real Estate Income Fund owns about 13,047,899 shares. This amounts to just over 3.15 percent of the company’s overall shares, with a $122.52 Million market value. The same data shows that the other fund manager holds slightly less at 11.87 Million, or about 2.86% of the stock, which is worth about $117.94 Million.

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