One company that should be on your radar is New Residential Investment Corp. (NRZ). The stock of this real estate investment trust has seen its Zacks Rank surge over the past four weeks, moving from Sell territory to its current position as Buy.
A key reason for this move has been the positive trend in the earnings estimate revisions picture. For NRZ’s full year estimate, we have seen 1 estimate go higher in the past 30 days, compared to no downward revision. This trend has helped the consensus estimate to trend higher, going from 70 cents a share a month ago to its current level at 73 cents.
This positive shift in estimates has made some investors take notice and buy the stock. In fact, NRZ has seen some pretty solid trading lately, as the company has moved higher by 10.82% in the past month.
If New Residential Investment can keep up this great momentum on the earnings estimate front and continue to impress analysts, we could see more gains ahead for this company, suggesting that you might want to put NRZ on your watch list for the future.
Other top-ranked stocks worth considering in this space include New York Mortgage Trust Inc. (NYMT), Hannon Armstrong Sustainable Infrastructure Capital, Inc. (HASI), and MFA Financial, Inc. (MFA). All these carry a Zacks Rank #2 (Buy).
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