Cambridge Investment Research Advisors Inc. lifted its holdings in shares of New Residential Investment Corp (NYSE:NRZ) by 10.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 352,527 shares of the real estate investment trust’s stock after purchasing an additional 32,324 shares during the period. Cambridge Investment Research Advisors Inc. owned 0.08% of New Residential Investment worth $2,619,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NRZ. Nisa Investment Advisors LLC lifted its stake in New Residential Investment by 60.4% in the second quarter. Nisa Investment Advisors LLC now owns 168,359 shares of the real estate investment trust’s stock valued at $1,251,000 after buying an additional 63,382 shares during the period. Capital Square LLC grew its position in shares of New Residential Investment by 5.1% during the 2nd quarter. Capital Square LLC now owns 250,762 shares of the real estate investment trust’s stock worth $1,863,000 after buying an additional 12,170 shares during the period. Paragon Capital Management Ltd bought a new stake in shares of New Residential Investment in the 2nd quarter valued at $215,000. Rothschild Investment Corp IL lifted its position in shares of New Residential Investment by 7.3% during the 2nd quarter. Rothschild Investment Corp IL now owns 29,500 shares of the real estate investment trust’s stock valued at $219,000 after acquiring an additional 2,000 shares during the period. Finally, World Asset Management Inc boosted its stake in New Residential Investment by 17.5% during the second quarter. World Asset Management Inc now owns 15,481 shares of the real estate investment trust’s stock worth $115,000 after acquiring an additional 2,302 shares in the last quarter. 43.87% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently issued reports on the stock. B. Riley reissued a “buy” rating and set a $9.00 price objective on shares of New Residential Investment in a research report on Tuesday, June 23rd. ValuEngine raised New Residential Investment from a “strong sell” rating to a “sell” rating in a research note on Friday, May 1st. Piper Sandler upgraded New Residential Investment from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $8.50 to $9.50 in a report on Thursday, July 16th. TheStreet cut New Residential Investment from a “c-” rating to a “d” rating in a report on Tuesday, May 5th. Finally, Argus raised shares of New Residential Investment from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Monday, July 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $12.25.
Shares of New Residential Investment stock opened at $7.93 on Friday. The company has a market capitalization of $3.30 billion, a P/E ratio of 4.11 and a beta of 1.82. The stock has a fifty day simple moving average of $7.40 and a 200 day simple moving average of $9.82. New Residential Investment Corp has a 12-month low of $2.91 and a 12-month high of $17.66. The company has a current ratio of 0.41, a quick ratio of 0.52 and a debt-to-equity ratio of 0.12.
New Residential Investment (NYSE:NRZ) last posted its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.04. The firm had revenue of $115.80 million for the quarter, compared to the consensus estimate of $87.87 million. New Residential Investment had a negative net margin of 74.42% and a positive return on equity of 14.32%. On average, analysts predict that New Residential Investment Corp will post 1.24 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Thursday, July 2nd were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 5.04%. This is an increase from New Residential Investment’s previous quarterly dividend of $0.05. The ex-dividend date was Wednesday, July 1st. New Residential Investment’s dividend payout ratio is presently 18.43%.
In other New Residential Investment news, Director Alan L. Tyson acquired 10,000 shares of New Residential Investment stock in a transaction on Monday, July 27th. The stock was purchased at an average price of $7.72 per share, for a total transaction of $77,200.00. Following the purchase, the director now directly owns 149,158 shares of the company’s stock, valued at $1,151,499.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Andrew Sloves bought 3,600 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were acquired at an average cost of $7.42 per share, with a total value of $26,712.00. Following the completion of the transaction, the director now owns 62,743 shares in the company, valued at $465,553.06. The disclosure for this purchase can be found here. Corporate insiders own 0.47% of the company’s stock.
About New Residential Investment
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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