One stock that might be an intriguing choice for investors right now is New Residential Investment Corp. . This is because this security in the REIT and Equity Trust space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.
This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the REIT and Equity Trust space as it currently has a Zacks Industry Rank of 74 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.
Meanwhile, New Residential is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.
In fact, over the past month, current quarter estimates have risen from 49 cents per share to 52 cents, while current year estimates have risen from $2.05 per share to $2.13. This has helped NRZ to earn a Zacks Rank #1 (Strong Buy), further underscoring the company’s solid position. You can see the complete list of today’s Zacks #1 Rank stocks here.
So, if you are looking for a decent pick in a strong industry, consider New Residential. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.
Zacks Top 10 Stocks for 2020
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?
Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2020 today >>