New Residential Investment Corp. (NYSE:NRZ) traded today at a new 52-week high of $11.20. Approximately 1.3 million shares have changed hands today, as compared to an average 30-day volume of 5.4 million shares.
In the past 52 weeks, New Residential Investment Corp. share prices are bracketed by a low of $2.91 and a high of $11.20 and is now at $11.14, 283% above that low price.
New Residential Investment Corp is a real estate investment trust that invests and manages investments related to residential real estate in the United States. The company’s asset portfolio is mainly comprised of servicing-related assets and residential securities and loans. The vast majority of the cumulative outstanding face value of New Residential’s portfolio is made up of excess mortgage servicing rights, or MSRs. The company collects interest income from these when the fee paid for an MSR exceeds the basic amount. Mortgage servicer advances, or loans extended to cover payments missed by homeowners, represent the majority of the carrying value of New Residential’s investment portfolio. Most of these securities have short- to medium-term lifespans.
New Residential Investment Corp. (NYSE:NRZ) is currently priced 2.0% above its average consensus analyst price target of $10.91.
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