LSV Asset Management raised its position in New Residential Inv (NYSE:NRZ) by 1.9% in the first quarter, HoldingsChannel reports. The institutional investor owned 659,200 shares of the real estate investment trust’s stock after purchasing an additional 12,300 shares during the period. LSV Asset Management’s holdings in New Residential Inv were worth $10,843,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American International Group Inc. purchased a new position in New Residential Inv in the fourth quarter valued at $115,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of New Residential Inv during the first quarter worth about $106,000. Glassman Wealth Services purchased a new stake in shares of New Residential Inv during the first quarter worth about $111,000. Bronfman E.L. Rothschild L.P. purchased a new stake in shares of New Residential Inv during the first quarter worth about $158,000. Finally, Grisanti Capital Management LLC purchased a new stake in shares of New Residential Inv during the fourth quarter worth about $197,000. 48.02% of the stock is owned by institutional investors.
A number of analysts have recently commented on NRZ shares. ValuEngine cut shares of New Residential Inv from a “strong-buy” rating to a “buy” rating in a research note 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 target price for the company in a research note on Monday, February 5th. B. Riley set a $19.00 target price on shares of New Residential Inv and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Finally, Zacks Investment Research raised shares of New Residential Inv from a “sell” rating to a “hold” rating in a research note on Thursday, March 15th. Eight equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $19.01.
Shares of New Residential Inv opened at $18.06 on Friday, according to MarketBeat.com. New Residential Inv has a 12-month low of $15.04 and a 12-month high of $18.43. The stock has a market cap of $6.05 billion, a P/E ratio of 6.38 and a beta of 0.90.
New Residential Inv (NYSE:NRZ) last announced its quarterly earnings data on Friday, April 27th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.03. New Residential Inv had a net margin of 89.43% and a return on equity of 18.15%. The company had revenue of $259.19 million during the quarter, compared to analysts’ expectations of $185.89 million. During the same quarter in the prior year, the company earned $0.54 EPS. equities analysts expect that New Residential Inv will post 2.29 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 27th. Investors of record on Monday, April 2nd were paid a dividend of $0.50 per share. The ex-dividend date was Thursday, March 29th. This represents a $2.00 annualized dividend and a yield of 11.07%. New Residential Inv’s dividend payout ratio is presently 70.67%.
About New Residential Inv
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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