Wells Fargo & Company MN boosted its position in New Residential Inv (NYSE:NRZ) by 17.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 832,654 shares of the real estate investment trust’s stock after buying an additional 123,113 shares during the period. Wells Fargo & Company MN owned approximately 0.25% of New Residential Inv worth $14,889,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of NRZ. Ffcm LLC boosted its stake in shares of New Residential Inv by 673.4% in the 3rd quarter. Ffcm LLC now owns 6,976 shares of the real estate investment trust’s stock worth $120,000 after buying an additional 6,074 shares during the last quarter. Cadence Capital Management LLC purchased a new position in shares of New Residential Inv in the 3rd quarter worth approximately $170,000. Highlander Capital Management LLC boosted its stake in shares of New Residential Inv by 250.0% in the 3rd quarter. Highlander Capital Management LLC now owns 10,500 shares of the real estate investment trust’s stock worth $176,000 after buying an additional 7,500 shares during the last quarter. CIBC Asset Management Inc purchased a new position in New Residential Inv in the third quarter valued at approximately $177,000. Finally, Grisanti Capital Management LLC purchased a new position in New Residential Inv in the fourth quarter valued at approximately $197,000. 48.41% of the stock is owned by institutional investors and hedge funds.
NRZ has been the topic of several research analyst reports. Zacks Investment Research downgraded New Residential Inv from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. Wedbush raised shares of New Residential Inv from a “neutral” rating to an “outperform” rating and set a $20.00 target price on the stock in a report on Thursday, January 18th. ValuEngine cut shares of New Residential Inv from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. Vetr raised shares of New Residential Inv from a “buy” rating to a “strong-buy” rating and set a $18.76 price target on the stock in a report on Monday, February 5th. Finally, B. Riley set a $19.00 price target on shares of New Residential Inv and gave the stock a “buy” rating in a report on Tuesday, February 13th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $18.64.
New Residential Inv stock opened at $16.32 on Friday. New Residential Inv has a 1-year low of $15.04 and a 1-year high of $18.43. The stock has a market cap of $5,482.37, a PE ratio of 5.77 and a beta of 0.91.
New Residential Inv (NYSE:NRZ) last released its quarterly earnings results on Tuesday, February 13th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.07. New Residential Inv had a net margin of 63.01% and a return on equity of 18.73%. The company had revenue of $235.27 million during the quarter, compared to the consensus estimate of $178.15 million. During the same period in the prior year, the firm earned $0.62 earnings per share. research analysts predict that New Residential Inv will post 2.19 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Shareholders of record on Monday, April 2nd will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 12.25%. The ex-dividend date is Thursday, March 29th. New Residential Inv’s dividend payout ratio is 70.67%.
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New Residential Inv 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 Related Assets, Residential Securities and Loans, and Other Investments 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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