Bessemer Group Inc. purchased a new position in shares of New Residential Investment Corp (NYSE:NRZ) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 6,200 shares of the real estate investment trust’s stock, valued at approximately $88,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Russell Investments Group Ltd. grew its holdings in New Residential Investment by 22.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 68,246 shares of the real estate investment trust’s stock worth $1,216,000 after acquiring an additional 12,433 shares in the last quarter. Victory Capital Management Inc. grew its holdings in New Residential Investment by 50.1% during the 3rd quarter. Victory Capital Management Inc. now owns 10,947 shares of the real estate investment trust’s stock worth $195,000 after acquiring an additional 3,655 shares in the last quarter. SG Americas Securities LLC acquired a new position in New Residential Investment during the 3rd quarter worth $974,000. JPMorgan Chase & Co. grew its holdings in New Residential Investment by 607.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 160,945 shares of the real estate investment trust’s stock worth $2,867,000 after acquiring an additional 138,188 shares in the last quarter. Finally, MML Investors Services LLC grew its holdings in New Residential Investment by 14.2% during the 3rd quarter. MML Investors Services LLC now owns 43,712 shares of the real estate investment trust’s stock worth $779,000 after acquiring an additional 5,445 shares in the last quarter. Institutional investors and hedge funds own 49.06% of the company’s stock.
NRZ has been the subject of several recent analyst reports. Nomura started coverage on shares of New Residential Investment in a report on Wednesday, March 27th. They set a “buy” rating and a $18.50 price objective for the company. Credit Suisse Group restated a “buy” rating and issued a $18.00 price target on shares of New Residential Investment in a research report on Friday, January 4th. Finally, Zacks Investment Research downgraded shares of New Residential Investment from a “buy” rating to a “hold” rating in a research report on Tuesday, January 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $19.50.
Shares of New Residential Investment stock traded down $0.05 during trading hours on Monday, reaching $16.56. The company’s stock had a trading volume of 2,025,128 shares, compared to its average volume of 4,548,884. The company has a market cap of $6.79 billion, a P/E ratio of 6.96 and a beta of 1.10. New Residential Investment Corp has a one year low of $13.86 and a one year high of $18.75.
New Residential Investment (NYSE:NRZ) last issued its quarterly earnings data on Tuesday, February 12th. The real estate investment trust reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.03. The firm had revenue of $266.00 million for the quarter, compared to the consensus estimate of $210.42 million. New Residential Investment had a net margin of 57.58% and a return on equity of 13.88%. During the same period last year, the firm posted $0.61 EPS. As a group, equities analysts expect that New Residential Investment Corp will post 2.27 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Thursday, April 4th will be given a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $2.00 annualized dividend and a yield of 12.08%. New Residential Investment’s dividend payout ratio is presently 84.03%.
New Residential Investment 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 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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