World Asset Management Inc increased its holdings in shares of New Residential Investment Corp (NYSE:NRZ) by 17.5% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,481 shares of the real estate investment trust’s stock after purchasing an additional 2,302 shares during the quarter. World Asset Management Inc’s holdings in New Residential Investment were worth $115,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Weaver Consulting Group bought a new stake in New Residential Investment during the 1st quarter worth approximately $26,000. Golden State Wealth Management LLC bought a new stake in New Residential Investment during the 1st quarter worth approximately $33,000. Tower Research Capital LLC TRC boosted its position in New Residential Investment by 192.9% during the 1st quarter. Tower Research Capital LLC TRC now owns 7,600 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 5,005 shares during the last quarter. Federated Hermes Inc. acquired a new position in New Residential Investment during the 1st quarter worth approximately $44,000. Finally, Your Advocates Ltd. LLP acquired a new position in New Residential Investment during the 1st quarter worth approximately $48,000. 43.87% of the stock is owned by institutional investors and hedge funds.
In other New Residential Investment news, Director Andrew Sloves purchased 3,600 shares of the business’s stock in a transaction on Friday, May 29th. The stock was acquired at an average price of $7.42 per share, with a total value of $26,712.00. Following the acquisition, the director now directly owns 62,743 shares of the company’s stock, valued at approximately $465,553.06. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Alan L. Tyson purchased 10,000 shares of the business’s stock in a transaction on Monday, July 27th. The shares were acquired at an average cost of $7.72 per share, with a total value of $77,200.00. Following the acquisition, the director now directly owns 149,158 shares in the company, valued at $1,151,499.76. The disclosure for this purchase can be found here. Company insiders own 0.47% of the company’s stock.
NRZ has been the subject of a number of recent research reports. Argus raised New Residential Investment from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Monday, July 27th. TheStreet downgraded New Residential Investment from a “c-” rating to a “d” rating in a research report on Tuesday, May 5th. B. Riley reaffirmed a “buy” rating and set a $9.00 price target on shares of New Residential Investment in a research report on Tuesday, June 23rd. JMP Securities reduced their price target on New Residential Investment from $17.00 to $9.50 and set an “outperform” rating for the company in a research report on Friday, June 12th. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $10.00 price target on shares of New Residential Investment in a research report on Thursday, May 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $12.25.
NYSE NRZ opened at $7.93 on Friday. The company has a market cap of $3.30 billion, a PE ratio of 4.18 and a beta of 1.82. The company has a current ratio of 0.41, a quick ratio of 0.52 and a debt-to-equity ratio of 0.12. New Residential Investment Corp has a 12 month low of $2.91 and a 12 month high of $17.66. The stock has a 50 day moving average of $7.40 and a 200-day moving average of $9.82.
New Residential Investment (NYSE:NRZ) last released its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $0.34 EPS for the quarter, beating the consensus estimate of $0.30 by $0.04. The company had revenue of $115.80 million during the quarter, compared to the consensus estimate of $87.87 million. New Residential Investment had a positive return on equity of 14.32% and a negative net margin of 74.42%. As a group, sell-side analysts predict that New Residential Investment Corp will post 1.24 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Thursday, July 2nd were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 5.04%. The ex-dividend date of this dividend was Wednesday, July 1st. This is an increase from New Residential Investment’s previous quarterly dividend of $0.05. New Residential Investment’s dividend payout ratio is presently 18.43%.
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 and Originations, Residential Securities and Loans, and Consumer Loans 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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