Nwam LLC lessened its holdings in shares of New Residential Investment Corp (NYSE:NRZ) by 1.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 197,446 shares of the real estate investment trust’s stock after selling 2,325 shares during the quarter. New Residential Investment accounts for approximately 0.7% of Nwam LLC’s portfolio, making the stock its 27th largest position. Nwam LLC’s holdings in New Residential Investment were worth $3,339,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the business. Metropolitan Life Insurance Co. NY boosted its holdings in New Residential Investment by 8.2% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,919 shares of the real estate investment trust’s stock worth $127,000 after acquiring an additional 674 shares during the last quarter. AE Wealth Management LLC boosted its holdings in New Residential Investment by 2.5% during the 4th quarter. AE Wealth Management LLC now owns 29,115 shares of the real estate investment trust’s stock worth $414,000 after acquiring an additional 708 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its holdings in New Residential Investment by 1.7% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 45,553 shares of the real estate investment trust’s stock worth $647,000 after acquiring an additional 764 shares during the last quarter. SeaBridge Investment Advisors LLC boosted its holdings in New Residential Investment by 0.5% during the 4th quarter. SeaBridge Investment Advisors LLC now owns 175,460 shares of the real estate investment trust’s stock worth $2,493,000 after acquiring an additional 880 shares during the last quarter. Finally, Global Financial Private Capital LLC boosted its holdings in New Residential Investment by 6.7% during the 4th quarter. Global Financial Private Capital LLC now owns 17,946 shares of the real estate investment trust’s stock worth $260,000 after acquiring an additional 1,128 shares during the last quarter. Institutional investors and hedge funds own 49.05% of the company’s stock.
NRZ opened at $16.66 on Wednesday. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of 7.00 and a beta of 1.10. New Residential Investment Corp has a 1 year low of $13.86 and a 1 year high of $18.75.
New Residential Investment (NYSE:NRZ) last issued its quarterly earnings results on Tuesday, February 12th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.03. The company had revenue of $266.00 million for the quarter, compared to the consensus estimate of $210.42 million. New Residential Investment had a net margin of 57.58% and a return on equity of 13.88%. During the same period in the previous year, the firm earned $0.61 EPS. As a group, sell-side analysts anticipate that New Residential Investment Corp will post 2.27 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Thursday, April 4th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 12.00%. The ex-dividend date is Wednesday, April 3rd. New Residential Investment’s dividend payout ratio (DPR) is currently 84.03%.
A number of equities analysts have issued reports on the stock. Nomura assumed coverage on shares of New Residential Investment in a report on Wednesday, March 27th. They set a “buy” rating and a $18.50 price objective on the stock. Zacks Investment Research raised shares of New Residential Investment from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $18.00 price objective on shares of New Residential Investment in a report on Friday, January 4th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. New Residential Investment has an average rating of “Buy” and an average target price of $19.50.
In related news, CEO Michael Nierenberg purchased 60,000 shares of the business’s stock in a transaction that occurred on Friday, February 22nd. The shares were bought at an average cost of $16.50 per share, with a total value of $990,000.00. Following the acquisition, the chief executive officer now owns 995,352 shares of the company’s stock, valued at $16,423,308. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.93% of the stock is currently owned by insiders.
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New Residential Investment Company Profile
New Residential Investment Corp., a real estate investment trust, focuses on investing in and managing residential mortgage related assets in the United States. It operates through Servicing and Originations, Residential Securities and Loans, and Consumer Loans segments. The company invests in excess mortgage servicing rights (MSRs) on residential mortgage loans; and in servicer advances, including the basic fee component of the related MSRs.
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