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Another Outperform and $18.50 target Today it's PiperJaffray analyst Kevin J. Barker who seems to agree with noted KBW analyst Bose George with an OW rating and an $18.50 target price. Perhaps Barker's target price is a 'pipe' dream (pun intended) but the 52-week high was $18.43, so....it's possible again I'd think. Brief clip from the PDF... CONCLUSION We reiterate our Overweight rating and maintain our $18.50 price target following 4Q17 earnings. NRZ continued its streak of beating Street estimates and easily covering the dividend with core earnings of $0.61 per share. Meanwhile, GAAP earnings hit $0.93 and drove an increase in TBV to $15.26 from $14.87 last Q. We believe the current run rate of core earnings combined with the ramping of the OCN portfolio should put NRZ in a good position to potentially raise the dividend in the next couple of quarters. Despite poor performance from most mortgage REIT stocks in recent weeks, NRZ still trades at a meaningful discount even though the company's large MSR portfolio positions it well for higher rates. Our $18.50 price target implies a total return of 22% including the 12% dividend yield |
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Msg # | Subject | Author | Recs | Date Posted |
1903 | Re: Another Outperform and $18.50 target | crashcardigan | 2 | 2/20/2018 12:31:40 PM |