Rhumbline Advisers cut its holdings in New Residential Investment Corp (NYSE:NRZ) by 1.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 302,964 shares of the real estate investment trust’s stock after selling 4,100 shares during the quarter. Rhumbline Advisers owned about 0.09% of New Residential Investment worth $5,399,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Victory Capital Management Inc. grew its position in shares of New Residential Investment by 214.0% in the 2nd quarter. Victory Capital Management Inc. now owns 7,292 shares of the real estate investment trust’s stock valued at $128,000 after purchasing an additional 4,970 shares during the period. Signaturefd LLC grew its position in shares of New Residential Investment by 109.8% in the 2nd quarter. Signaturefd LLC now owns 8,088 shares of the real estate investment trust’s stock valued at $141,000 after purchasing an additional 4,233 shares during the period. Quad Cities Investment Group LLC lifted its stake in New Residential Investment by 111.1% in the 3rd quarter. Quad Cities Investment Group LLC now owns 9,665 shares of the real estate investment trust’s stock valued at $173,000 after acquiring an additional 5,087 shares in the last quarter. NEXT Financial Group Inc bought a new stake in New Residential Investment in the 3rd quarter valued at approximately $174,000. Finally, Wesbanco Bank Inc. bought a new stake in New Residential Investment in the 2nd quarter valued at approximately $177,000. Institutional investors and hedge funds own 52.65% of the company’s stock.
NRZ has been the topic of several research reports. Zacks Investment Research cut New Residential Investment from a “buy” rating to a “hold” rating in a research note on Tuesday, October 30th. Raymond James initiated coverage on New Residential Investment in a research note on Friday, October 5th. They issued an “outperform” rating and a $20.00 target price on the stock. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $19.81.
NYSE NRZ opened at $17.02 on Friday. The company has a market capitalization of $5.81 billion, a price-to-earnings ratio of 7.11, a PEG ratio of 7.27 and a beta of 0.90. New Residential Investment Corp has a 52 week low of $15.24 and a 52 week high of $18.75.
New Residential Investment (NYSE:NRZ) last released its earnings results on Thursday, October 25th. The real estate investment trust reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.09. The firm had revenue of $262.72 million for the quarter, compared to analysts’ expectations of $231.40 million. New Residential Investment had a return on equity of 14.35% and a net margin of 79.22%. On average, equities research analysts expect that New Residential Investment Corp will post 2.35 earnings per share for the current fiscal year.
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New Residential Investment Company 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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