SG Americas Securities LLC lowered its stake in shares of New Residential Investment Corp (NYSE:NRZ) by 75.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,669 shares of the real estate investment trust’s stock after selling 135,099 shares during the quarter. SG Americas Securities LLC’s holdings in New Residential Investment were worth $747,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Dupont Capital Management Corp boosted its position in New Residential Investment by 55.3% in the third quarter. Dupont Capital Management Corp now owns 277,700 shares of the real estate investment trust’s stock worth $4,646,000 after purchasing an additional 98,900 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in New Residential Investment by 63.4% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 155,034 shares of the real estate investment trust’s stock worth $2,412,000 after purchasing an additional 60,175 shares during the last quarter. Meeder Asset Management Inc. boosted its position in New Residential Investment by 19.7% in the third quarter. Meeder Asset Management Inc. now owns 25,156 shares of the real estate investment trust’s stock worth $421,000 after purchasing an additional 4,135 shares during the last quarter. Utah Retirement Systems purchased a new position in New Residential Investment in the second quarter worth $874,000. Finally, Swiss National Bank boosted its position in New Residential Investment by 3.2% in the second quarter. Swiss National Bank now owns 511,905 shares of the real estate investment trust’s stock worth $7,965,000 after purchasing an additional 15,800 shares during the last quarter. Institutional investors and hedge funds own 48.61% of the company’s stock.
Several research firms have weighed in on NRZ. FBR & Co reissued a “buy” rating and issued a $19.25 price objective on shares of New Residential Investment in a research report on Monday, October 30th. B. Riley reissued a “buy” rating and issued a $19.25 price objective on shares of New Residential Investment in a research report on Wednesday, November 29th. Zacks Investment Research cut New Residential Investment from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Barclays upped their price target on New Residential Investment from $16.00 to $19.00 and gave the company an “overweight” rating in a research report on Tuesday, October 24th. Finally, Vetr cut New Residential Investment from a “buy” rating to a “hold” rating and set a $17.72 price target on the stock. in a research report on Monday, October 9th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. New Residential Investment presently has a consensus rating of “Buy” and a consensus target price of $18.09.
Shares of New Residential Investment Corp (NYSE NRZ) traded up $0.18 during midday trading on Friday, hitting $18.29. The stock had a trading volume of 2,453,607 shares, compared to its average volume of 1,989,468. New Residential Investment Corp has a 1 year low of $15.03 and a 1 year high of $18.30. The stock has a market cap of $5,566.31, a PE ratio of 6.40, a PEG ratio of 6.77 and a beta of 1.02.
New Residential Investment (NYSE:NRZ) last issued its quarterly earnings results on Friday, October 27th. The real estate investment trust reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. The firm had revenue of $331.38 million for the quarter, compared to analysts’ expectations of $291.66 million. New Residential Investment had a return on equity of 19.38% and a net margin of 60.06%. The business’s revenue for the quarter was up 72.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.51 EPS. equities analysts predict that New Residential Investment Corp will post 2.68 earnings per share for the current year.
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New Residential Investment Profile
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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