Aviance Capital Management LLC trimmed its position in New Residential Investment Corp (NYSE:NRZ) by 9.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 733,665 shares of the real estate investment trust’s stock after selling 73,940 shares during the quarter. New Residential Investment comprises 0.9% of Aviance Capital Management LLC’s holdings, making the stock its 27th largest position. Aviance Capital Management LLC owned approximately 0.22% of New Residential Investment worth $13,118,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the company. Barings LLC raised its stake in shares of New Residential Investment by 76.5% in the fourth quarter. Barings LLC now owns 60,640 shares of the real estate investment trust’s stock worth $1,084,000 after purchasing an additional 26,280 shares during the last quarter. Prescott Group Capital Management L.L.C. purchased a new position in shares of New Residential Investment in the fourth quarter worth about $279,000. Grisanti Capital Management LLC purchased a new position in shares of New Residential Investment in the fourth quarter worth about $197,000. Swiss National Bank raised its stake in shares of New Residential Investment by 2.3% in the fourth quarter. Swiss National Bank now owns 523,505 shares of the real estate investment trust’s stock worth $9,360,000 after purchasing an additional 11,600 shares during the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of New Residential Investment by 6.3% in the fourth quarter. California Public Employees Retirement System now owns 557,920 shares of the real estate investment trust’s stock worth $9,976,000 after purchasing an additional 32,988 shares during the last quarter. Hedge funds and other institutional investors own 45.28% of the company’s stock.
New Residential Investment Corp (NYSE NRZ) opened at $16.91 on Wednesday. The firm has a market capitalization of $5,620.00, a P/E ratio of 5.47 and a beta of 0.92. New Residential Investment Corp has a 12-month low of $15.04 and a 12-month high of $18.43.
New Residential Investment (NYSE:NRZ) last announced its quarterly earnings results on Tuesday, February 13th. The real estate investment trust reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.07. New Residential Investment had a return on equity of 19.38% and a net margin of 60.06%. During the same quarter in the previous year, the company earned $0.62 earnings per share. analysts expect that New Residential Investment Corp will post 2.73 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 30th. Investors of record on Friday, December 29th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 11.83%. The ex-dividend date of this dividend was Thursday, December 28th. New Residential Investment’s dividend payout ratio is currently 64.72%.
Several research analysts have recently issued reports on the company. B. Riley restated a “buy” rating on shares of New Residential Investment in a research note on Wednesday, November 1st. Vetr cut New Residential Investment from a “strong-buy” rating to a “buy” rating and set a $18.60 price objective for the company. in a research note on Tuesday. ValuEngine cut New Residential Investment from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 2nd. FBR & Co reiterated a “buy” rating and set a $19.25 price target on shares of New Residential Investment in a research report on Monday, October 30th. Finally, Wedbush upgraded New Residential Investment from a “neutral” rating to an “outperform” rating and set a $20.00 price target for the company in a research report on Thursday, January 18th. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $18.61.
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New Residential Investment Company 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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