Global X Management Co. LLC raised its position in New Residential Investment Corp. (NYSE:NRZ) by 6.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 630,022 shares of the real estate investment trust’s stock after buying an additional 39,026 shares during the period. Global X Management Co. LLC owned about 0.20% of New Residential Investment Corp. worth $9,803,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of NRZ. Commerzbank Aktiengesellschaft FI raised its position in New Residential Investment Corp. by 0.7% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 10,500 shares of the real estate investment trust’s stock worth $178,000 after buying an additional 77 shares during the last quarter. US Bancorp DE increased its position in shares of New Residential Investment Corp. by 0.6% in the second quarter. US Bancorp DE now owns 15,807 shares of the real estate investment trust’s stock worth $245,000 after buying an additional 100 shares during the period. Trust Investment Advisors increased its position in shares of New Residential Investment Corp. by 0.4% in the second quarter. Trust Investment Advisors now owns 93,325 shares of the real estate investment trust’s stock worth $1,452,000 after buying an additional 350 shares during the period. Bronfman E.L. Rothschild L.P. increased its position in shares of New Residential Investment Corp. by 5.3% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 11,941 shares of the real estate investment trust’s stock worth $203,000 after buying an additional 604 shares during the period. Finally, IFP Advisors Inc increased its position in shares of New Residential Investment Corp. by 9.6% in the second quarter. IFP Advisors Inc now owns 7,194 shares of the real estate investment trust’s stock worth $112,000 after buying an additional 629 shares during the period. Hedge funds and other institutional investors own 54.85% of the company’s stock.
New Residential Investment Corp. (NYSE:NRZ) opened at 16.69 on Thursday. New Residential Investment Corp. has a 52 week low of $13.30 and a 52 week high of $17.86. The firm’s 50-day moving average is $16.09 and its 200-day moving average is $16.42. The stock has a market capitalization of $5.13 billion, a P/E ratio of 5.92 and a beta of 1.02.
New Residential Investment Corp. (NYSE:NRZ) last announced its quarterly earnings data on Monday, July 31st. The real estate investment trust reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.48. The business had revenue of $356.80 million for the quarter, compared to analyst estimates of $202.40 million. New Residential Investment Corp. had a net margin of 55.85% and a return on equity of 19.02%. During the same period in the prior year, the firm posted $0.52 EPS. On average, equities research analysts predict that New Residential Investment Corp. will post $2.46 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Monday, July 3rd were issued a dividend of $0.50 per share. This is a positive change from New Residential Investment Corp.’s previous quarterly dividend of $0.48. This represents a $2.00 annualized dividend and a dividend yield of 11.98%. The ex-dividend date was Thursday, June 29th. New Residential Investment Corp.’s dividend payout ratio is presently 72.20%.
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A number of brokerages have commented on NRZ. BidaskClub raised shares of New Residential Investment Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Vetr downgraded shares of New Residential Investment Corp. from a “hold” rating to a “sell” rating and set a $16.55 target price on the stock. in a research note on Wednesday, August 2nd. Keefe, Bruyette & Woods reaffirmed 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. Wedbush downgraded shares of New Residential Investment Corp. from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $17.00 to $16.50 in a research note on Tuesday, June 20th. Finally, FBR & Co reaffirmed an “outperform” rating and set a $17.50 target price on shares of New Residential Investment Corp. in a research note on Tuesday, May 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company 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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