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New Residential Investment (NYSE:NRZ) target bumped up to $17.00, reported today by Wedbush

New Residential Investment (NYSE:NRZ) had its stock price target increased to $17.00 by Wedbush in a report issued 10/06/2016. The new target price indicates a possible upside of 0.26% from the company's previous stock price.

Having a price of $13.48, New Residential Investment (NYSE:NRZ) traded -0.58% lower on the day. With the last stock price up 2.54% from the two hundred day average, compared with the Standard & Poor's 500 Index which has decreased -0.01% over the same period. NRZ has recorded a 50-day average of $14.17 and a two hundred day average of $13.31. Trade Volume was down over the average, with 2,177,475 shares of NRZ changing hands under the typical 2,787,670

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New Residential Investment (NYSE:NRZ)

New Residential Investment has price-earnings ratio of 9.33 with a one year low of $9.07 and a one year high of $14.89 and has a market capitalization of $0.

In addition to Wedbush reporting its stock price target, a total of 11 brokers have issued a research note on the company. The average stock price target is $16.14 with 4 brokers rating the stock a strong buy, 7 brokers rating the stock a buy, 0 brokers rating the stock a hold, 0 brokers rating the stock a underperform, and finally 0 brokers rating the stock a sell.

Brief Synopsis On New Residential Investment (NYSE:NRZ)

New Residential Investment Corp. is a real estate investment trust (REIT). The Company is focused on investing in, and managing, investments related to residential real estate. The Company conducts its business through the segments, 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. Its portfolio is composed of servicing related assets, residential securities and loans, and other investments. It has made over three direct investments in servicer advances, including the basic fee component of the related MSRs. It acquires and manages a portfolio of credit sensitive real estate securities, including non-agency and agency residential mortgage backed securities (RMBS). The Company has an interest in a pool of consumer loans, including unsecured and homeowner loans.

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