Seelaus Asset Management LLC increased its holdings in shares of New Residential Investment Corp (NYSE:NRZ) by 157.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 28,358 shares of the real estate investment trust’s stock after acquiring an additional 17,358 shares during the period. Seelaus Asset Management LLC’s holdings in New Residential Investment were worth $480,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc grew its stake in New Residential Investment by 2.7% during the third quarter. Vanguard Group Inc now owns 29,420,296 shares of the real estate investment trust’s stock worth $524,269,000 after purchasing an additional 777,682 shares during the period. BlackRock Inc. grew its stake in New Residential Investment by 6.8% during the fourth quarter. BlackRock Inc. now owns 22,189,175 shares of the real estate investment trust’s stock worth $315,310,000 after purchasing an additional 1,406,824 shares during the period. State Treasurer State of Michigan grew its stake in New Residential Investment by 41.9% during the first quarter. State Treasurer State of Michigan now owns 10,154,734 shares of the real estate investment trust’s stock worth $171,717,000 after purchasing an additional 3,000,000 shares during the period. Vaughan Nelson Investment Management L.P. grew its stake in New Residential Investment by 87.7% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 7,103,965 shares of the real estate investment trust’s stock worth $100,946,000 after purchasing an additional 3,318,765 shares during the period. Finally, Geode Capital Management LLC grew its stake in New Residential Investment by 14.3% during the fourth quarter. Geode Capital Management LLC now owns 4,380,624 shares of the real estate investment trust’s stock worth $62,408,000 after purchasing an additional 549,115 shares during the period. 49.25% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have commented on NRZ. Zacks Investment Research raised New Residential Investment from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. Nomura began coverage on New Residential Investment in a research note on Wednesday, March 27th. They issued a “buy” rating and a $18.50 price objective for the company. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $19.30.
New Residential Investment stock traded down $0.04 during mid-day trading on Wednesday, reaching $16.63. The stock had a trading volume of 250,733 shares, compared to its average volume of 2,782,876. New Residential Investment Corp has a fifty-two week low of $13.86 and a fifty-two week high of $18.75. The stock has a market capitalization of $6.92 billion, a PE ratio of 6.99 and a beta of 1.09.
New Residential Investment (NYSE:NRZ) last announced its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.53 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.53. New Residential Investment had a return on equity of 13.39% and a net margin of 29.22%. The firm had revenue of $423.08 million during the quarter, compared to analysts’ expectations of $403.45 million. During the same quarter last year, the firm posted $0.58 earnings per share. The company’s revenue for the quarter was up 62.9% compared to the same quarter last year. As a group, analysts expect that New Residential Investment Corp will post 2.19 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Thursday, April 4th were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, April 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 12.03%. New Residential Investment’s dividend payout ratio (DPR) is presently 84.03%.
In related news, Director David Saltzman bought 14,174 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average price of $16.66 per share, with a total value of $236,138.84. Following the completion of the transaction, the director now directly owns 38,887 shares in the company, valued at $647,857.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Nierenberg bought 60,000 shares of the business’s stock in a transaction that occurred on Friday, February 22nd. The shares were bought at an average cost of $16.50 per share, for a total transaction of $990,000.00. Following the transaction, the chief executive officer now owns 995,352 shares of the company’s stock, valued at $16,423,308. The disclosure for this purchase can be found here. Company insiders own 0.47% of the company’s stock.
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About New Residential Investment
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 and Originations, Residential Securities and Loans, and Consumer Loans 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.
Further Reading: Percentage Gainers
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