Grove Bank & Trust boosted its position in New Residential Investment Corp. (NYSE:NRZ) by 29.5% during the second quarter, Holdings Channel reports. The firm owned 14,095 shares of the real estate investment trust’s stock after buying an additional 3,210 shares during the period. Grove Bank & Trust’s holdings in New Residential Investment Corp. were worth $219,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its position in New Residential Investment Corp. by 58.7% in the first quarter. Wells Fargo & Company MN now owns 1,413,015 shares of the real estate investment trust’s stock worth $23,993,000 after buying an additional 522,706 shares during the period. Telemus Capital LLC increased its position in New Residential Investment Corp. by 11.6% in the first quarter. Telemus Capital LLC now owns 262,745 shares of the real estate investment trust’s stock worth $4,461,000 after buying an additional 27,390 shares during the period. Suntrust Banks Inc. increased its position in New Residential Investment Corp. by 6.8% in the first quarter. Suntrust Banks Inc. now owns 47,874 shares of the real estate investment trust’s stock worth $811,000 after buying an additional 3,051 shares during the period. Creative Planning increased its position in New Residential Investment Corp. by 12.2% in the first quarter. Creative Planning now owns 58,822 shares of the real estate investment trust’s stock worth $999,000 after buying an additional 6,386 shares during the period. Finally, Penn Mutual Life Insurance Co. increased its position in New Residential Investment Corp. by 102.1% in the first quarter. Penn Mutual Life Insurance Co. now owns 380,000 shares of the real estate investment trust’s stock worth $6,335,000 after buying an additional 192,000 shares during the period. Institutional investors own 54.73% of the company’s stock.
Shares of New Residential Investment Corp. (NYSE NRZ) opened at 16.83 on Friday. The stock has a market capitalization of $5.17 billion, a P/E ratio of 5.97 and a beta of 1.02. New Residential Investment Corp. has a one year low of $13.30 and a one year high of $17.86. The company’s 50 day moving average price is $16.06 and its 200 day moving average price is $16.39.
New Residential Investment Corp. (NYSE:NRZ) last released its quarterly earnings results on Monday, July 31st. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.48. The company had revenue of $356.80 million during the quarter, compared to the consensus estimate of $202.40 million. New Residential Investment Corp. had a return on equity of 20.15% and a net margin of 55.85%. During the same quarter in the prior year, the company posted $0.52 EPS. On average, equities analysts expect that New Residential Investment Corp. will post $2.32 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Monday, July 3rd were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 11.88%. The ex-dividend date was Thursday, June 29th. This is an increase from New Residential Investment Corp.’s previous quarterly dividend of $0.48. New Residential Investment Corp.’s dividend payout ratio is 72.20%.
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Several equities research analysts recently commented on NRZ shares. ValuEngine downgraded New Residential Investment Corp. from a “strong-buy” rating to a “buy” rating in a report on Friday, June 30th. Zacks Investment Research downgraded New Residential Investment Corp. from a “buy” rating to a “sell” rating in a report on Wednesday, July 5th. FBR & Co reiterated an “outperform” rating and set a $17.50 target price on shares of New Residential Investment Corp. in a report on Sunday, April 23rd. BidaskClub downgraded New Residential Investment Corp. from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Finally, Vetr downgraded New Residential Investment Corp. from a “buy” rating to a “hold” rating and set a $17.58 target price on the stock. in a report on Monday, May 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $16.62.
About New Residential Investment Corp.
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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