The stock of New Residential Investment Corp (NYSE:NRZ) hit a new 52-week high and has $21.60 target or 44.00% above today’s $15.00 share price. The 6 months bullish chart indicates low risk for the $3.85B company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $21.60 price target is reached, the company will be worth $1.69B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.63M shares traded hands. New Residential Investment Corp (NYSE:NRZ) has risen 22.03% since April 19, 2016 and is uptrending. It has outperformed by 18.17% the S&P500.
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 firm earned “Outperform” rating on Thursday, February 25 by FBR Capital. The rating was upgraded by Zacks to “Sell” on Wednesday, August 12. The company was maintained on Wednesday, August 10 by Barclays Capital. The stock of New Residential Investment Corp (NYSE:NRZ) earned “Overweight” rating by Piper Jaffray on Friday, September 9. The company was downgraded on Wednesday, May 18 by Compass Point. On Monday, October 19 the stock rating was upgraded by Piper Jaffray to “Overweight”. As per Thursday, October 6, the company rating was initiated by Wedbush. The stock has “Neutral” rating given by Nomura on Wednesday, October 26. The stock has “Mkt Outperform” rating given by JMP Securities on Wednesday, December 23.
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 increased to 1.6 in Q2 2016. Its up 0.68, from 0.92 in 2016Q1. The ratio increased, 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.
Aviance Capital Limited Company has invested 0.54% of its portfolio in New Residential Investment Corp (NYSE:NRZ). Earnest Prtnrs Ltd Liability Co accumulated 1,650 shares or 0% of the stock. Mackenzie holds 0% or 17,313 shares in its portfolio. Mycio Wealth Prtnrs Ltd Liability Corp last reported 462 shares in the company. Boston Partners reported 375,611 shares or 0.01% of all its holdings. Moreover, Eidelman Virant Capital has 0.3% invested in New Residential Investment Corp (NYSE:NRZ) for 35,500 shares. Whittier Trust has 0% invested in the company for 3,335 shares. Qcm Cayman has invested 0.11% of its portfolio in New Residential Investment Corp (NYSE:NRZ). Millennium Mgmt Ltd has 461,144 shares for 0.01% of their US portfolio. Hightower Ltd has 102,770 shares for 0.02% of their US portfolio. Metropolitan Life Ins Ny accumulated 0.02% or 165,078 shares. Moreover, Kcg Holding Inc has 0.01% invested in New Residential Investment Corp (NYSE:NRZ) for 19,712 shares. Moreover, Cap Fund Management has 0.02% invested in New Residential Investment Corp (NYSE:NRZ) for 118,659 shares. Quantbot Limited Partnership owns 4,890 shares or 0.01% of their US portfolio. Moreover, Tradewinds Glob Invsts Ltd Liability Corp has 0.02% invested in New Residential Investment Corp (NYSE:NRZ) for 25,271 shares.
Insider Transactions: Since November 11, 2016, the stock had 1 buy, and 0 sales for $187,708 net activity. $187,708 worth of New Residential Investment Corp (NYSE:NRZ) was bought by Sloves Andrew.
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.
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