New Residential Investment (NRZ) is Initiated by JMP Securities to Mkt Outperform, Price Target at $15

New Residential Investment (NRZ) is Initiated by JMP Securities to Mkt Outperform according to the research report released to the investors. The brokerage firm has set the Price Target of the shares at $15. The shares recommendation by the Brokerage Firm was released on Dec-24-2015.

New Residential Investment Corp. (NYSE:NRZ) : On Thursday heightened volatility was witnessed in New Residential Investment Corp. (NYSE:NRZ) which led to swings in the share price. The shares opened for trading at $12.08 and hit $12.62 on the upside , eventually ending the session at $12.23, with a gain of 1.49% or 0.18 points. The heightened volatility saw the trading volume jump to 5,765,725 shares. The 52-week high of the share price is $17.91 and the company has a market cap of $2,819 million. The 52-week low of the share price is at $10.35 .

During the last several months other analysts have commented on the company rating. Piper Jaffray upgrades its view on New Residential Investment Corp. (NYSE:NRZ) according to the research report released by the firm to its investors. The shares have now been rated Overweight by the stock experts at the ratings house. Earlier, the shares had a rating of Neutral. The rating by the firm was issued on October 19, 2015.

As many as 6 brokerage firms have rated New Residential Investment Corp. (NYSE:NRZ) at 1.17. Research Analysts at Zacks have ranked the company at 3, suggesting the traders with a rating of hold for the short term. 1 analysts suggested buying the company. 5 analysts rated the company as a strong buy.

New Residential Investment Corp. (NYSE:NRZ) should head towards $17.57 per share according to 7 Analysts in consensus. However, if the road gets shaky, the stock may fall short to $15 per share. The higher price estimate target is at $21 according to the Analysts.

Shares of New Residential Investment Corp. rose by 4.8% in the last five trading days and 3.38% for the last 4 weeks. New Residential Investment Corp. has dropped 12.59% during the last 3-month period . Year-to-Date the stock performance stands at 4.43%.

New Residential Investment Corp., incorporated on September 26, 2013, is a real estate investment trust. The Company focuses on investing in, and actively managing, investments related to residential real estate. The Company is managed by an affiliate of Fortress Investment Group LLC, a global investment management. The Company primarily target investments in excess mortgage servicing rights, residential mortgage backed securities, residential mortgage loans and other related investments. On May 15, 2013, Newcastle Investment Corp. announced that the spin-off of New Residential Investment Corp.