New Residential Investment (NRZ) : Traders are bullish on New Residential Investment (NRZ) as it has outperformed the S&P 500 by a wide margin of 4.47% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.3%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.84% in the last 1 week, and is up 2.35% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 0.81% and the 50-Day Moving Average is 3.33%.The 200 Day SMA reached 19.81% New Residential Investment Corp. is up 11.09% in the last 3-month period. Year-to-Date the stock performance stands at 27.06%.
New Residential Investment (NRZ) : The highest level New Residential Investment (NRZ) is projected to reach is $16 for the short term and the lowest estimate is at $15. The consolidated price target from 6 rating analysts who initiate coverage on the stock is $15.42 and the possibility the share price can swing is $0.49.
For the current week, the company shares have a recommendation consensus of Buy. New Residential Investment (NYSE:NRZ): stock was range-bound between the intraday low of $14.2499 and the intraday high of $14.415 after having opened at $14.33 on Fridays session. The stock finally closed in the red at $14.33, a loss of -0.07%. The stock remained in the red for the whole trading day. The total traded volume was 4,321,833 shares. The stock failed to cross $14.415 in Fridays trading. The stocks closing price on Thursday was $14.36.
New Residential Investment Corp. (New Residential) is a publicly traded real estate investment trust. The Company is focused on investing and managing residential real estate investments. Its portfolio consists of servicing related assets, residential securities and loans and other investments. Its business segments include: Excess Mortgage Servicing Rights (Excess MSRs), Servicer Advances, Real Estate Securities, Real Estate Loans, Consumer Loans and Corporate. It has acquired Excess MSRs on residential mortgage loans with an aggregate unpaid principal balance (UPB) as of December 31, 2014 of approximately $248.7 billion. It acquires and manages a portfolio of credit sensitive real estate securities, including Non-Agency and Agency residential mortgage backed securities (RMBS). It has acquired residential mortgage loans, including performing, non-performing, re-performing and reverse mortgage loans.