Wesbanco Bank Inc. Increases Position in New Residential Investment Corp (NRZ)

Wesbanco Bank Inc. boosted its position in New Residential Investment Corp (NYSE:NRZ) by 98.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 20,000 shares of the real estate investment trust’s stock after acquiring an additional 9,900 shares during the period. Wesbanco Bank Inc.’s holdings in New Residential Investment were worth $284,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Essex Savings Bank purchased a new position in New Residential Investment during the 4th quarter valued at about $71,000. Quad Cities Investment Group LLC grew its holdings in New Residential Investment by 111.1% during the 3rd quarter. Quad Cities Investment Group LLC now owns 9,665 shares of the real estate investment trust’s stock valued at $173,000 after buying an additional 5,087 shares in the last quarter. D.A. Davidson & CO. purchased a new position in New Residential Investment during the 4th quarter valued at about $184,000. Carnegie Capital Asset Management LLC purchased a new position in New Residential Investment during the 3rd quarter valued at about $192,000. Finally, Victory Capital Management Inc. grew its holdings in New Residential Investment by 50.1% during the 3rd quarter. Victory Capital Management Inc. now owns 10,947 shares of the real estate investment trust’s stock valued at $195,000 after buying an additional 3,655 shares in the last quarter. 53.96% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE NRZ traded down $0.16 during midday trading on Wednesday, hitting $17.01. 79,531 shares of the company’s stock were exchanged, compared to its average volume of 3,371,596. New Residential Investment Corp has a 12-month low of $13.86 and a 12-month high of $18.75. The firm has a market capitalization of $5.84 billion, a price-to-earnings ratio of 6.02, a PEG ratio of 7.31 and a beta of 1.10.

New Residential Investment (NYSE:NRZ) last issued its quarterly earnings data on Tuesday, February 12th. The real estate investment trust reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.03. New Residential Investment had a return on equity of 14.35% and a net margin of 79.22%. The company had revenue of $266.00 million during the quarter, compared to analyst estimates of $210.42 million. During the same quarter in the previous year, the firm earned $0.61 earnings per share. As a group, analysts anticipate that New Residential Investment Corp will post 2.34 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 25th. Stockholders of record on Monday, December 31st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 11.76%. The ex-dividend date of this dividend was Friday, December 28th. New Residential Investment’s payout ratio is 70.67%.

Several research analysts have recently commented on the company. Zacks Investment Research lowered New Residential Investment from a “buy” rating to a “hold” rating in a report on Tuesday, January 15th. Credit Suisse Group reissued a “buy” rating and set a $18.00 price objective on shares of New Residential Investment in a report on Friday, January 4th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $19.48.

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New Residential Investment 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 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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Institutional Ownership by Quarter for New Residential Investment (NYSE:NRZ)

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