why New Residential Investment Corp. [NRZ] is a Good Choice for Investors After New Price Target of $12.68

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New Residential Investment Corp. [NYSE: NRZ] stock went on an upward path that rose over 1.16% on Wednesday, amounting to a one-week price increase of more than 1.37%. The company report on June 17, 2022 that New Residential Investment Corp. Announces Internalization and Rebrand to Rithm Capital, and Declares Second Quarter 2022 Dividends.


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New Residential Investment Corp. (NYSE: NRZ) (“NRZ” or the “Company”) announced today it has entered into agreements providing for the internalization of the Company’s management function.

In conjunction with the internalization, the Company announced plans to change its name and rebrand as Rithm Capital Corp. (NYSE: RITM) (“Rithm Capital”).

Over the last 12 months, NRZ stock dropped by -2.94%. The one-year New Residential Investment Corp. stock forecast points to a potential upside of 24.37. The average equity rating for NRZ stock is currently 1.80, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $4.46 billion, with 466.79 million shares outstanding and 464.48 million shares in the current float. Compared to the average trading volume of 6.66M shares, NRZ stock reached a trading volume of 3486216 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on New Residential Investment Corp. [NRZ]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NRZ shares is $12.68 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NRZ stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Piper Sandler have made an estimate for New Residential Investment Corp. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on June 13, 2022. The new note on the price target was released on May 05, 2022, representing the official price target for New Residential Investment Corp. stock. Previously, the target price had yet another raise to $13, while Barclays analysts kept a Overweight rating on NRZ stock. On August 30, 2021, analysts increased their price target for NRZ shares from 12 to 13.

The Average True Range (ATR) for New Residential Investment Corp. is set at 0.38, with the Price to Sales ratio for NRZ stock in the period of the last 12 months amounting to 1.03. The Price to Book ratio for the last quarter was 0.76, with the Price to Cash per share for the same quarter was set at 3.59.

NRZ Stock Performance Analysis:

New Residential Investment Corp. [NRZ] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.37. With this latest performance, NRZ shares dropped by -11.78% in over the last four-week period, additionally sinking by -11.94% over the last 6 months – not to mention a drop of -2.94% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NRZ stock in for the last two-week period is set at 45.93, with the RSI for the last a single of trading hit 48.37, and the three-weeks RSI is set at 45.30 for New Residential Investment Corp. [NRZ]. The present Moving Average for the last 50 days of trading for this stock 10.35, while it was recorded at 9.54 for the last single week of trading, and 10.71 for the last 200 days.

NRZ Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NRZ. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for New Residential Investment Corp. go to 14.14%.

New Residential Investment Corp. [NRZ] Insider Position Details

There are presently around $2,067 million, or 47.40% of NRZ stock, in the hands of institutional investors. The top three institutional holders of NRZ stocks are: VANGUARD GROUP INC with ownership of 42,301,286, which is approximately 0.765% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 25,357,497 shares of the stock with an approximate value of $240.39 million in NRZ stocks shares; and FMR LLC, currently with $144.15 million in NRZ stock with ownership of nearly 18.092% of the company’s market capitalization.

207 institutional holders increased their position in New Residential Investment Corp. [NYSE:NRZ] by around 21,526,344 shares. Additionally, 169 investors decreased positions by around 16,433,851 shares, while 85 investors held positions by with 180,077,674 shares. The mentioned changes placed institutional holdings at 218,037,869 shares, according to the latest SEC report filing. NRZ stock had 51 new institutional investments in for a total of 7,822,141 shares, while 50 institutional investors sold positions of 4,559,898 shares during the same period.

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