Natixis Investment Managers International lifted its holdings in shares of New Residential Investment Corp. (NYSE:NRZ) by 20.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,285 shares of the real estate investment trust’s stock after purchasing an additional 7,835 shares during the quarter. Natixis Investment Managers International’s holdings in New Residential Investment were worth $479,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in NRZ. Harbour Investments Inc. purchased a new position in New Residential Investment during the 1st quarter valued at about $25,000. Tradewinds Capital Management LLC purchased a new position in New Residential Investment during the 2nd quarter valued at about $26,000. Tradition Wealth Management LLC purchased a new position in New Residential Investment during the 2nd quarter valued at about $29,000. TCI Wealth Advisors Inc. boosted its holdings in New Residential Investment by 1,807.2% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 3,166 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 3,000 shares during the period. Finally, Horan Securities Inc. purchased a new position in New Residential Investment during the 2nd quarter valued at about $40,000. Institutional investors and hedge funds own 48.68% of the company’s stock.
Shares of NRZ stock traded up $0.02 during midday trading on Thursday, hitting $11.34. The company had a trading volume of 21,267 shares, compared to its average volume of 5,470,812. The company’s 50 day simple moving average is $10.65 and its 200 day simple moving average is $10.51. New Residential Investment Corp. has a 52-week low of $7.27 and a 52-week high of $11.48. The stock has a market cap of $5.29 billion, a price-to-earnings ratio of 8.98 and a beta of 1.93. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.38 and a quick ratio of 0.38.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 29th. Investors of record on Monday, October 4th will be paid a $0.25 dividend. The ex-dividend date is Friday, October 1st. This is an increase from New Residential Investment’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.82%. New Residential Investment’s payout ratio is 68.49%.
A number of research firms have issued reports on NRZ. Zacks Investment Research raised New Residential Investment from a “sell” rating to a “hold” rating in a research report on Wednesday, August 11th. Credit Suisse Group began coverage on New Residential Investment in a research report on Monday, August 30th. They issued an “outperform” rating and a $13.00 price target on the stock. Barclays began coverage on New Residential Investment in a research report on Wednesday, September 29th. They issued an “overweight” rating on the stock. Finally, Wedbush reaffirmed an “outperform” rating on shares of New Residential Investment in a research report on Friday, October 8th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $11.73.
New Residential Investment Company Profile
New Residential Investment Corp. is a real estate investment trust, which focuses on investing and actively managing, investments related to residential real estate. It operates through the following segments: Origination, Servicing, MSR Related Investments, Residential Securities and Loans, Consumer Loans and Corporate.
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