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 7.05% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3.65%, 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 4.1% in the last 1 week, and is up 9.71% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
New Residential Investment (NYSE:NRZ): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $14.02 and $13.98 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $14.25. The buying momentum continued till the end and the stock did not give up its gains. It closed at $14.23, notching a gain of 1.64% for the day. The total traded volume was 2,512,635 . The stock had closed at $14.00 on the previous day.
The stock has recorded a 20-day Moving Average of 5.76% and the 50-Day Moving Average is 7.67%. New Residential Investment Corp. is up 15.34% in the last 3-month period. Year-to-Date the stock performance stands at 25.91%.
New Residential Investment (NRZ) : The consensus price target for New Residential Investment (NRZ) is $15.64 for the short term with a standard deviation of $1.11. The most optimist securities analyst among the 7 who monitor the stock believes that the stock can reach $18, however, the pessimist price target for the company is $15.
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.