Chesley Taft & Associates LLC lessened its stake in shares of New Residential Investment Corp (NYSE:NRZ) by 1.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 36,275 shares of the real estate investment trust’s stock after selling 700 shares during the quarter. Chesley Taft & Associates LLC’s holdings in New Residential Investment were worth $558,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Penserra Capital Management LLC bought a new stake in shares of New Residential Investment during the first quarter worth $25,000. Trust Co. of Vermont bought a new stake in shares of New Residential Investment during the first quarter worth $27,000. Private Capital Group LLC bought a new stake in shares of New Residential Investment during the first quarter worth $28,000. Cedar Wealth Management LLC grew its stake in shares of New Residential Investment by 50.0% during the first quarter. Cedar Wealth Management LLC now owns 1,800 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 600 shares during the last quarter. Finally, First Manhattan Co. grew its stake in shares of New Residential Investment by 120.0% during the first quarter. First Manhattan Co. now owns 2,200 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 1,200 shares during the last quarter. 53.43% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have weighed in on the stock. Zacks Investment Research cut shares of Hallmark Financial Services from a “buy” rating to a “hold” rating in a research note on Thursday, July 18th. ValuEngine raised shares of XCel Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, July 9th. Finally, Nomura reduced their price objective on shares of Carnival from $66.00 to $61.00 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $19.30.
Shares of New Residential Investment stock opened at $15.49 on Thursday. New Residential Investment Corp has a twelve month low of $13.86 and a twelve month high of $18.75. The company has a market capitalization of $6.37 billion, a PE ratio of 6.51 and a beta of 1.08. The business has a fifty day simple moving average of $15.48.
New Residential Investment (NYSE:NRZ) last issued its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.53 earnings per share for the quarter, hitting the consensus estimate of $0.53. The company had revenue of $423.08 million for the quarter, compared to analysts’ expectations of $403.45 million. New Residential Investment had a net margin of 29.22% and a return on equity of 13.39%. New Residential Investment’s revenue for the quarter was up 62.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.58 earnings per share. As a group, research analysts forecast that New Residential Investment Corp will post 2.19 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Monday, July 1st will be issued a $0.50 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.00 annualized dividend and a yield of 12.91%. New Residential Investment’s payout ratio is 84.03%.
In other news, Director David Saltzman bought 14,174 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average price of $16.66 per share, for a total transaction of $236,138.84. Following the completion of the acquisition, the director now directly owns 38,887 shares in the company, valued at $647,857.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew Sloves bought 1,800 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was purchased at an average price of $16.65 per share, for a total transaction of $29,970.00. Following the acquisition, the director now owns 29,481 shares of the company’s stock, valued at $490,858.65. The disclosure for this purchase can be found here. 0.47% of the stock is owned by insiders.
New Residential Investment 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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