Transcend Wealth Collective LLC raised its stake in New Residential Investment Corp. (NYSE:NRZ) by 29.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 65,419 shares of the real estate investment trust’s stock after buying an additional 15,000 shares during the quarter. Transcend Wealth Collective LLC’s holdings in New Residential Investment were worth $740,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Aigen Investment Management LP lifted its stake in New Residential Investment by 83.8% during the 1st quarter. Aigen Investment Management LP now owns 112,391 shares of the real estate investment trust’s stock worth $1,264,000 after acquiring an additional 51,227 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of New Residential Investment by 22.1% during the 1st quarter. Teacher Retirement System of Texas now owns 46,583 shares of the real estate investment trust’s stock worth $524,000 after acquiring an additional 8,416 shares in the last quarter. Boston Private Wealth LLC purchased a new position in New Residential Investment during the 1st quarter worth approximately $274,000. Peregrine Capital Management LLC grew its stake in New Residential Investment by 21.4% during the 1st quarter. Peregrine Capital Management LLC now owns 1,632,981 shares of the real estate investment trust’s stock worth $18,371,000 after buying an additional 287,341 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of New Residential Investment by 71.1% in the 1st quarter. Russell Investments Group Ltd. now owns 105,003 shares of the real estate investment trust’s stock valued at $1,181,000 after purchasing an additional 43,647 shares during the last quarter. Institutional investors own 40.39% of the company’s stock.
NRZ has been the subject of several recent analyst reports. Zacks Investment Research cut New Residential Investment from a “buy” rating to a “hold” rating in a report on Tuesday, February 16th. Jonestrading reissued a “hold” rating on shares of New Residential Investment in a report on Wednesday, April 21st. Royal Bank of Canada assumed coverage on New Residential Investment in a research report on Thursday, March 25th. They issued an “outperform” rating and a $12.00 price objective for the company. Piper Sandler lifted their price objective on New Residential Investment from $11.50 to $13.00 and gave the company an “overweight” rating in a research report on Tuesday, April 20th. Finally, Credit Suisse Group boosted their price target on New Residential Investment from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Monday, March 15th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. New Residential Investment presently has a consensus rating of “Buy” and a consensus price target of $11.46.
New Residential Investment (NYSE:NRZ) last posted its quarterly earnings data on Wednesday, May 5th. The real estate investment trust reported $0.34 EPS for the quarter, meeting the consensus estimate of $0.34. New Residential Investment had a net margin of 48.05% and a return on equity of 12.82%. During the same period in the previous year, the company posted ($0.48) EPS. Equities analysts forecast that New Residential Investment Corp. will post 1.37 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 30th. Stockholders of record on Monday, April 5th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, April 1st. This represents a $0.80 annualized dividend and a dividend yield of 7.21%. New Residential Investment’s dividend payout ratio is presently 54.79%.
In related news, CEO Michael Nierenberg purchased 100,000 shares of the firm’s stock in a transaction that occurred on Monday, April 19th. The shares were acquired at an average price of $10.10 per share, for a total transaction of $1,010,000.00. Following the purchase, the chief executive officer now owns 357,028 shares in the company, valued at $3,605,982.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.57% of the stock is owned by insiders.
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 five segments: Origination, Servicing, MSR Related Investments, Residential Securities and Loans, and Consumer Loans. 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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