Rafferty Asset Management LLC trimmed its stake in shares of New Residential Investment Corp (NYSE:NRZ) by 9.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,503 shares of the real estate investment trust’s stock after selling 8,035 shares during the period. Rafferty Asset Management LLC’s holdings in New Residential Investment were worth $1,417,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of NRZ. Canada Pension Plan Investment Board lifted its stake in shares of New Residential Investment by 3.5% in the second quarter. Canada Pension Plan Investment Board now owns 243,500 shares of the real estate investment trust’s stock worth $4,259,000 after buying an additional 8,200 shares in the last quarter. Claraphi Advisory Network LLC purchased a new position in shares of New Residential Investment in the third quarter worth about $284,000. Marshall Wace LLP purchased a new position in shares of New Residential Investment in the second quarter worth about $6,960,000. Victory Capital Management Inc. lifted its stake in shares of New Residential Investment by 214.0% in the second quarter. Victory Capital Management Inc. now owns 7,292 shares of the real estate investment trust’s stock worth $128,000 after buying an additional 4,970 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of New Residential Investment by 29.0% in the second quarter. Renaissance Technologies LLC now owns 2,494,105 shares of the real estate investment trust’s stock worth $43,622,000 after buying an additional 560,895 shares in the last quarter. 53.81% of the stock is currently owned by institutional investors and hedge funds.
NYSE:NRZ opened at $17.30 on Friday. New Residential Investment Corp has a twelve month low of $15.24 and a twelve month high of $18.75. The stock has a market capitalization of $5.85 billion, a PE ratio of 6.11, a price-to-earnings-growth ratio of 7.33 and a beta of 0.87.
Several research firms have recently weighed in on NRZ. Zacks Investment Research downgraded shares of New Residential Investment from a “buy” rating to a “hold” rating in a research note on Tuesday, October 30th. Raymond James began coverage on shares of New Residential Investment in a research note on Friday, October 5th. They issued an “outperform” rating and a $20.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. New Residential Investment has a consensus rating of “Buy” and a consensus target price of $19.81.
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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 Related Assets, Residential Securities and Loans, and Other Investments 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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