Price Action to Note: Time to Buy New Residential Investment Corp After Today’s Big Increase?

Price Action to Note: Time to Buy New Residential Investment Corp After Today's Big Increase?

The stock of New Residential Investment Corp (NYSE:NRZ) is a huge mover today! About 683,765 shares traded hands. New Residential Investment Corp (NYSE:NRZ) has risen 24.74% since April 26, 2016 and is uptrending. It has outperformed by 19.48% the S&P500.
The move comes after 9 months positive chart setup for the $3.90 billion company. It was reported on Nov, 29 by Barchart.com. We have $15.99 PT which if reached, will make NYSE:NRZ worth $117.00M more.

Analysts await New Residential Investment Corp (NYSE:NRZ) to report earnings on February, 22. They expect $0.52 EPS, 0.00% or $0.00 from last year’s $0.52 per share. NRZ’s profit will be $130.67 million for 7.46 P/E if the $0.52 EPS becomes a reality. After $0.51 actual EPS reported by New Residential Investment Corp for the previous quarter, Wall Street now forecasts 1.96% EPS growth.

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 “Overweight” rating on Friday, September 9 by Piper Jaffray. The stock has “Neutral” rating given by Nomura on Wednesday, October 26. The firm has “Outperform” rating given on Thursday, October 6 by Wedbush. The stock has “Neutral” rating given by Compass Point on Wednesday, May 18. JMP Securities initiated the stock with “Mkt Outperform” rating in Wednesday, December 23 report. The firm earned “Outperform” rating on Thursday, February 25 by FBR Capital. The firm earned “Overweight” rating on Wednesday, August 10 by Barclays Capital. On Wednesday, August 12 the stock rating was upgraded by Zacks to “Sell”. The rating was upgraded by Piper Jaffray on Monday, October 19 to “Overweight”.

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.
Advsr Cap reported 1.00 million shares or 1.43% of all its holdings. Lpl Ltd Limited Liability Company has 0% invested in the company for 14,810 shares. Jpmorgan Chase & holds 16,218 shares or 0% of its portfolio. Qcm Cayman Limited holds 0.11% of its portfolio in New Residential Investment Corp (NYSE:NRZ) for 18,413 shares. State Board Of Administration Of Florida Retirement System accumulated 0% or 75,880 shares. Strategic Advisors Lc holds 0.18% or 34,470 shares in its portfolio. Royal Bank Of Canada, a Ontario – Canada-based fund reported 120,937 shares. Capital Fund holds 0.02% of its portfolio in New Residential Investment Corp (NYSE:NRZ) for 118,659 shares. Janney Montgomery Scott Ltd owns 10,280 shares or 0% of their US portfolio. Signaturefd Ltd Com owns 2,016 shares or 0% of their US portfolio. Pitcairn has 0.06% invested in the company for 36,441 shares. Bank Of Hawaii accumulated 0.02% or 13,195 shares. Profund Advisors Lc has invested 0.01% of its portfolio in New Residential Investment Corp (NYSE:NRZ). Hsbc Hldgs Public Ltd Liability Corporation last reported 0% of its portfolio in the stock. Susquehanna Gp Ltd Liability Partnership has 141,558 shares for 0% of their US portfolio.

Insider Transactions: Since November 11, 2016, the stock had 1 insider purchase, and 0 selling transactions for $187,708 net activity. Sloves Andrew also bought $187,708 worth of New Residential Investment Corp (NYSE:NRZ) on Friday, November 11.

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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