Grand Jean Capital Management Inc. acquired a new stake in New Residential Investment Corp (NYSE:NRZ) in the 1st quarter, HoldingsChannel reports. The fund acquired 13,110 shares of the real estate investment trust’s stock, valued at approximately $222,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NRZ. Norges Bank acquired a new stake in shares of New Residential Investment in the 4th quarter valued at approximately $50,412,000. State Treasurer State of Michigan boosted its holdings in shares of New Residential Investment by 41.9% in the 1st quarter. State Treasurer State of Michigan now owns 10,154,734 shares of the real estate investment trust’s stock valued at $171,717,000 after buying an additional 3,000,000 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of New Residential Investment by 12.4% in the 1st quarter. BlackRock Inc. now owns 24,944,962 shares of the real estate investment trust’s stock valued at $421,818,000 after buying an additional 2,755,787 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of New Residential Investment by 16.5% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 8,278,265 shares of the real estate investment trust’s stock valued at $139,986,000 after buying an additional 1,174,300 shares during the last quarter. Finally, Laurion Capital Management LP acquired a new stake in shares of New Residential Investment in the 1st quarter valued at approximately $16,756,000. 53.44% of the stock is owned by institutional investors.
In other New Residential Investment news, Director David Saltzman purchased 14,174 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average price of $16.66 per share, for a total transaction of $236,138.84. Following the purchase, the director now owns 38,887 shares in the company, valued at $647,857.42. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew Sloves purchased 1,800 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was acquired at an average price of $16.65 per share, for a total transaction of $29,970.00. Following the purchase, the director now owns 29,481 shares in the company, valued at approximately $490,858.65. The disclosure for this purchase can be found here. 0.47% of the stock is currently owned by corporate insiders.
NRZ opened at $15.55 on Friday. New Residential Investment Corp has a 1-year low of $13.86 and a 1-year high of $18.75. The firm has a market capitalization of $6.41 billion, a P/E ratio of 6.53 and a beta of 1.12.
New Residential Investment (NYSE:NRZ) last posted its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.53 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.53. New Residential Investment had a return on equity of 13.39% and a net margin of 29.22%. The business had revenue of $423.08 million for the quarter, compared to analysts’ expectations of $403.45 million. During the same quarter in the prior year, the business earned $0.58 EPS. The firm’s revenue for the quarter was up 62.9% on a year-over-year basis. On average, equities analysts expect that New Residential Investment Corp will post 2.19 earnings per share for the current year.
Several equities research analysts have recently commented on the company. Zacks Investment Research downgraded New Residential Investment from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Nomura assumed coverage on New Residential Investment in a report on Wednesday, March 27th. They issued a “buy” rating and a $18.50 price objective for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $19.30.
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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.
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