Orinda Asset Management LLC grew its holdings in shares of New Residential Investment Corp (NYSE:NRZ) by 13.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 340,109 shares of the real estate investment trust’s stock after buying an additional 40,524 shares during the quarter. New Residential Investment accounts for 13.5% of Orinda Asset Management LLC’s portfolio, making the stock its largest position. Orinda Asset Management LLC owned about 0.10% of New Residential Investment worth $4,833,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jane Street Group LLC lifted its stake in New Residential Investment by 47.9% during the third quarter. Jane Street Group LLC now owns 19,149 shares of the real estate investment trust’s stock valued at $341,000 after buying an additional 6,201 shares in the last quarter. Claraphi Advisory Network LLC purchased a new stake in New Residential Investment during the third quarter valued at about $284,000. Victory Capital Management Inc. lifted its stake in New Residential Investment by 50.1% during the third quarter. Victory Capital Management Inc. now owns 10,947 shares of the real estate investment trust’s stock valued at $195,000 after buying an additional 3,655 shares in the last quarter. Vanguard Group Inc. lifted 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 valued at $524,269,000 after buying an additional 777,682 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in 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 valued at $370,342,000 after buying an additional 779,586 shares in the last quarter. 53.96% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of New Residential Investment from a “buy” rating to a “hold” rating in a research report on Tuesday, January 15th. Credit Suisse Group reissued a “buy” rating and issued a $18.00 price target on shares of New Residential Investment in a research report on Friday, January 4th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. New Residential Investment currently has an average rating of “Buy” and a consensus price target of $19.57.
New Residential Investment (NYSE:NRZ) last posted its quarterly earnings data on Tuesday, February 12th. The real estate investment trust reported $0.58 earnings per share for the quarter, beating the 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 company had revenue of $266.00 million during the quarter, compared to analysts’ expectations of $210.42 million. During the same period in the prior year, the business earned $0.61 earnings per share. Equities research analysts forecast that New Residential Investment Corp will post 2.34 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, January 25th. Investors of record on Monday, December 31st were given a $0.50 dividend. The ex-dividend date of this dividend was Friday, December 28th. This represents a $2.00 annualized dividend and a yield of 11.70%. New Residential Investment’s dividend payout ratio (DPR) is currently 70.67%.
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 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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