New Residential Investment Corp (NYSE:NRZ) Director Andrew Sloves purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was bought at an average cost of $15.93 per share, with a total value of $15,930.00. Following the acquisition, the director now owns 36,535 shares of the company’s stock, valued at $582,002.55. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of New Residential Investment stock traded up $0.04 during midday trading on Friday, reaching $16.17. The company had a trading volume of 22,271 shares, compared to its average volume of 2,860,476. The company has a market capitalization of $6.70 billion, a price-to-earnings ratio of 6.80 and a beta of 1.10. The stock has a fifty day simple moving average of $15.47 and a 200 day simple moving average of $15.49. New Residential Investment Corp has a 1-year low of $13.63 and a 1-year high of $17.82.
New Residential Investment (NYSE:NRZ) last issued its quarterly earnings results on Friday, October 25th. The real estate investment trust reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The company had revenue of $202.23 million during the quarter, compared to analyst estimates of $227.21 million. New Residential Investment had a net margin of 19.60% and a return on equity of 12.69%. During the same period in the prior year, the business earned $0.63 EPS. Equities research analysts expect that New Residential Investment Corp will post 2.08 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 3rd were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $2.00 dividend on an annualized basis and a yield of 12.37%. New Residential Investment’s payout ratio is presently 84.03%.
A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of New Residential Investment by 1.4% during the second quarter. Vanguard Group Inc. now owns 37,929,329 shares of the real estate investment trust’s stock worth $583,732,000 after purchasing an additional 525,425 shares in the last quarter. BlackRock Inc. increased its stake in New Residential Investment by 3.9% in the 2nd quarter. BlackRock Inc. now owns 25,928,104 shares of the real estate investment trust’s stock valued at $399,033,000 after buying an additional 983,142 shares during the last quarter. UBS Group AG increased its stake in shares of New Residential Investment by 20.2% during the 2nd quarter. UBS Group AG now owns 5,893,173 shares of the real estate investment trust’s stock worth $90,696,000 after purchasing an additional 989,905 shares during the last quarter. Balyasny Asset Management LLC increased its stake in shares of New Residential Investment by 44.7% during the 2nd quarter. Balyasny Asset Management LLC now owns 5,259,116 shares of the real estate investment trust’s stock worth $80,938,000 after purchasing an additional 1,624,073 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in New Residential Investment by 4.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,373,607 shares of the real estate investment trust’s stock valued at $51,920,000 after buying an additional 128,802 shares during the last quarter. 52.67% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently weighed in on the stock. Wedbush reissued an “outperform” rating on shares of New Residential Investment in a report on Monday, August 19th. ValuEngine raised shares of New Residential Investment from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research raised shares of New Residential Investment from a “sell” rating to a “hold” rating in a report on Friday, November 1st. BTIG Research assumed coverage on shares of New Residential Investment in a report on Friday, September 6th. They issued a “buy” rating and a $18.00 price target for the company. Finally, Piper Jaffray Companies lowered their price target on shares of New Residential Investment from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $18.00.
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.
See Also: What is the Coverage Ratio?
Receive News & Ratings for New Residential Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Residential Investment and related companies with MarketBeat.com's FREE daily email newsletter.