D.A. Davidson & CO. purchased a new position in shares of New Residential Investment Corp (NYSE:NRZ) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,950 shares of the real estate investment trust’s stock, valued at approximately $184,000.
Several other large investors have also recently added to or reduced their stakes in NRZ. Nan Shan Life Insurance Co. Ltd. grew its holdings in shares of New Residential Investment by 35.0% during the third quarter. Nan Shan Life Insurance Co. Ltd. now owns 14,811,133 shares of the real estate investment trust’s stock worth $263,934,000 after purchasing an additional 3,843,970 shares during the last quarter. State Treasurer State of Michigan grew its holdings in shares of New Residential Investment by 362.1% during the third quarter. State Treasurer State of Michigan now owns 3,096,176 shares of the real estate investment trust’s stock worth $55,174,000 after purchasing an additional 2,426,176 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of New Residential Investment by 96.3% during the third quarter. Wells Fargo & Company MN now owns 2,878,288 shares of the real estate investment trust’s stock worth $51,292,000 after purchasing an additional 1,412,178 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of New Residential Investment during the third quarter worth about $14,774,000. Finally, BlackRock Inc. grew its holdings in shares of New Residential Investment by 3.9% during the third quarter. BlackRock Inc. now owns 20,782,351 shares of the real estate investment trust’s stock worth $370,342,000 after purchasing an additional 779,586 shares during the last quarter. Institutional investors own 53.96% of the company’s stock.
NRZ has been the topic of several analyst reports. Zacks Investment Research cut New Residential Investment from a “buy” rating to a “hold” rating in a report on Tuesday, October 30th. Credit Suisse Group reiterated a “buy” rating and issued a $18.00 target price on shares of New Residential Investment in a report on Friday, January 4th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $19.57.
Shares of NRZ stock opened at $17.09 on Thursday. New Residential Investment Corp has a one year low of $13.86 and a one year high of $18.75. The company has a market capitalization of $5.84 billion, a P/E ratio of 6.04, a P/E/G ratio of 7.31 and a beta of 1.10.
New Residential Investment (NYSE:NRZ) last announced its earnings results on Tuesday, February 12th. The real estate investment trust reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.03. New Residential Investment had a return on equity of 14.35% and a net margin of 79.22%. The business had revenue of $266.00 million for the quarter, compared to analysts’ expectations of $210.42 million. During the same period in the prior year, the business posted $0.61 earnings per share. On average, equities analysts predict that New Residential Investment Corp will post 2.34 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, January 25th. Investors of record on Monday, December 31st were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 11.70%. The ex-dividend date was Friday, December 28th. New Residential Investment’s payout ratio is presently 70.67%.
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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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