Raymond James Believes New Residential Inv (NRZ) Still Has Room to Grow
In a report released today, Stephen Laws from Raymond James reiterated a Buy rating on New Residential Inv (NRZ). The company’s shares closed last Thursday at $10.42, close to its 52-week high of $11.48.
According to TipRanks.com, Laws is a 5-star analyst with an average return of 18.0% and a 70.9% success rate. Laws covers the Financial sector, focusing on stocks such as NexPoint Real Estate ate Finance, Colony Credit Real Estate, and Broadmark Realty Capital.
New Residential Inv has an analyst consensus of Strong Buy, with a price target consensus of $11.88, implying a 14.6% upside from current levels. In a report issued on April 1, Jefferies also maintained a Buy rating on the stock with a $13.50 price target.
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New Residential Inv’s market cap is currently $4.31B and has a P/E ratio of -3.10. The company has a Price to Book ratio of -8.26.
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New Residential Investment Corp. is a real estate investment trust, which focuses on investing and actively managing, investments related to residential real estate. It operates through the following segments: Origination, Servicing, MSR Related Investments, Residential Securities and Loans, Consumer Loans and Corporate. The Corporate segment includes general and administrative expenses, the management fees and incentive compensation, and corporate cash and related interest income. The company was founded in 2011 and is headquartered in New York, NY.
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