American Assets Capital Advisers lifted its stake in shares of New Residential Investment Corp. (NYSE:NRZ) by 18.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,091,270 shares of the real estate investment trust’s stock after acquiring an additional 169,551 shares during the quarter. New Residential Investment Corp. comprises approximately 7.2% of American Assets Capital Advisers’ holdings, making the stock its largest position. American Assets Capital Advisers owned about 0.36% of New Residential Investment Corp. worth $18,257,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TCI Wealth Advisors Inc. boosted its stake in New Residential Investment Corp. by 203.0% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 6,060 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 4,060 shares during the period. IFP Advisors Inc boosted its stake in New Residential Investment Corp. by 9.6% during the 2nd quarter. IFP Advisors Inc now owns 7,194 shares of the real estate investment trust’s stock valued at $112,000 after purchasing an additional 629 shares during the period. Penserra Capital Management LLC boosted its stake in New Residential Investment Corp. by 8.4% during the 2nd quarter. Penserra Capital Management LLC now owns 7,631 shares of the real estate investment trust’s stock valued at $118,000 after purchasing an additional 593 shares during the period. Public Employees Retirement Association of Colorado bought a new stake in New Residential Investment Corp. during the 2nd quarter valued at approximately $150,000. Finally, Laurion Capital Management LP bought a new stake in New Residential Investment Corp. during the 2nd quarter valued at approximately $166,000. Institutional investors own 48.10% of the company’s stock.
Several analysts recently weighed in on NRZ shares. Vetr upgraded New Residential Investment Corp. from a “hold” rating to a “buy” rating and set a $17.75 target price for the company in a research note on Thursday, October 26th. Keefe, Bruyette & Woods restated a “buy” rating and set a $18.00 target price on shares of New Residential Investment Corp. in a research note on Thursday, August 3rd. Barclays PLC increased their target price on New Residential Investment Corp. from $16.00 to $19.00 and gave the company an “overweight” rating in a research note on Tuesday, October 24th. Zacks Investment Research upgraded New Residential Investment Corp. from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Finally, ValuEngine upgraded New Residential Investment Corp. from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 2nd. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $17.56.
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Shares of New Residential Investment Corp. (NRZ) traded up 1.15% during mid-day trading on Tuesday, reaching $17.64. The company had a trading volume of 1,196,952 shares. The firm’s 50-day moving average is $17.04 and its 200 day moving average is $16.54. New Residential Investment Corp. has a 12 month low of $13.63 and a 12 month high of $17.91. The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of 6.26 and a beta of 1.03.
New Residential Investment Corp. (NYSE:NRZ) last posted its quarterly earnings results on Friday, October 27th. The real estate investment trust reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.08. New Residential Investment Corp. had a return on equity of 20.02% and a net margin of 60.06%. The business had revenue of $331.38 million during the quarter, compared to analysts’ expectations of $291.66 million. During the same quarter last year, the company posted $0.51 earnings per share. New Residential Investment Corp.’s quarterly revenue was up 72.1% on a year-over-year basis. On average, equities research analysts predict that New Residential Investment Corp. will post $2.67 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Monday, October 2nd were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 11.47%. The ex-dividend date was Friday, September 29th. New Residential Investment Corp.’s payout ratio is currently 64.72%.
New Residential Investment Corp. Profile
New Residential Investment Corp. is a real estate investment trust (REIT). The Company focuses on investing in, and managing, investments related to residential real estate. The Company’s segments include investments in excess mortgage servicing rights (Excess MSRs); investments in mortgage servicing rights (MSRs); investments in servicer advances; investments in real estate securities; investments in residential mortgage loans; investments in consumer loans, and corporate.
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