In the last trading session, 4.51 million New Residential Investment Corp. (NYSE:NRZ) shares changed hands as the company’s beta touched 1.91. With the company’s per share price at $10.65 changed hands at -$0.04 or -0.37% during last session, the market valuation stood at $5.09B. NRZ’s last price was a discount, traded about -7.79% off its 52-week high of $11.48. The share price had its 52-week low at $6.38, which suggests the last value was 40.09% up since then. When we look at New Residential Investment Corp.’s average trading volume, we note the 10-day average is 5.14 million shares, with the 3-month average coming to 6.45 million.
Analysts gave the New Residential Investment Corp. (NRZ) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.50. If we narrow down to specifics, the data shows that 0 out of 11 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 1 recommended NRZ as a Hold, 9 felt it is a Buy and 0 rated the stock as Underweight. New Residential Investment Corp.’s EPS for the current quarter is expected to be $0.33.
New Residential Investment Corp. (NYSE:NRZ) trade information
Instantly NRZ was in red as seen at the end of in last trading. With action -2.38%, the performance over the past five days has been red. The drop to weekly highs of 11.02 on Tuesday, 06/22/21 subtracted -0.37% to the stock’s daily price. The company’s shares are showing year-to-date upside of 7.14%, with the 5-day performance at -2.38% in the red. However, in the 30-day time frame, New Residential Investment Corp. (NYSE:NRZ) is 3.90% up. Looking at the short shares, we see there were 6.27 million shares sold at short interest cover period of 1.08 days.
The consensus price target for the stock as assigned by Wall Street analysts is $12.39, meaning bulls need an upside of 14.04% from its current market value. According to analyst projections, NRZ’s forecast low is $11.00 with $13.00 as the target high. To hit the forecast high, the stock’s price needs a -22.07% plunge from its current level, while the stock would need to soar -3.29% for it to hit the projected low.
New Residential Investment Corp. (NRZ) estimates and forecasts
Data shows that the New Residential Investment Corp. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 7.04% over the past 6 months, a -6.16% in annual growth rate that is considerably lower than the industry average of -1.80%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for New Residential Investment Corp. will fall -2.90%, while the growth in revenue is estimated to hit 12.90% for the next quarter. Year-over-year growth is forecast to reach -14.70% down from the last financial year.
Consensus estimates given by 8 financial analysts project the company’s revenue in the current quarter to hit an average of $235.51 million. 8 analysts are of the opinion that New Residential Investment Corp.’s revenue for the quarter ending Sep 2021 will be $230.9 million. The company’s revenue for the corresponding quarters a year ago was $111.13 million. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 111.90%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -36.10%. The 2021 estimates are for New Residential Investment Corp. earnings to decrease by -362.10%, but the outlook for the next 5-year period is at -5.46% per year.
New Residential Investment Corp. is expected to release its next quarterly earnings report in July. The 7.51% annual yield figure for the share gives it an annual dividend of 0.80. It is important to note, however, that the 7.51% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision. During the past 5 years, the average dividend yield was 12.54 per year.
New Residential Investment Corp. (NYSE:NRZ)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.45% of New Residential Investment Corp. shares while 44.48% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 44.68%. There are 44.48% institutions holding the New Residential Investment Corp. stock share, with Vanguard Group, Inc. (The) the top institutional holder. As of Dec 30, 2020, the company held 7.75% of the shares, roughly 36.18 million NRZ shares worth $359.58 million.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 5.87% or 27.38 million shares worth $272.18 million as of Dec 30, 2020.
Among Mutual Funds, the top two as of Jan 30, 2021 were Fidelity Real Estate Income Fund and Vanguard Total Stock Market Index Fund. With 13.05 million shares estimated at $122.52 million under it, the former controlled 2.80% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.54% of the shares, roughly 11.87 million shares worth around $117.94 million.