Northern Trust Corp Acquires 118,081 Shares of New Residential Investment Corp (NRZ)

Northern Trust Corp raised its stake in shares of New Residential Investment Corp (NYSE:NRZ) by 6.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,821,556 shares of the real estate investment trust’s stock after buying an additional 118,081 shares during the quarter. Northern Trust Corp owned about 0.54% of New Residential Investment worth $25,886,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the company. State Treasurer State of Michigan raised its position in New Residential Investment by 131.1% in the fourth quarter. State Treasurer State of Michigan now owns 7,154,734 shares of the real estate investment trust’s stock valued at $101,669,000 after purchasing an additional 4,058,558 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in shares of 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 acquiring an additional 3,318,765 shares during the last quarter. BlackRock Inc. increased its position in shares of 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 acquiring an additional 1,406,824 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of New Residential Investment during the third quarter worth about $14,774,000. Finally, Vanguard Group Inc increased its position in shares of 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 acquiring an additional 777,682 shares during the last quarter. Institutional investors and hedge funds own 49.05% of the company’s stock.

In other news, CEO Michael Nierenberg bought 60,000 shares of the company’s stock in a transaction that occurred on Friday, February 22nd. The shares were purchased at an average price of $16.50 per share, with a total value of $990,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 995,352 shares in the company, valued at $16,423,308. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.93% of the stock is owned by insiders.

A number of equities analysts recently commented on the company. Zacks Investment Research downgraded New Residential Investment from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. Credit Suisse Group reiterated a “buy” rating and issued a $18.00 price target on shares of New Residential Investment in a research note on Friday, January 4th. Finally, Nomura assumed coverage on New Residential Investment in a research note on Wednesday, March 27th. They issued a “buy” rating and a $18.50 price target for the company. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $19.50.

Shares of NYSE NRZ traded up $0.05 during midday trading on Friday, hitting $16.71. 1,856,575 shares of the company’s stock were exchanged, compared to its average volume of 3,577,194. The company has a market cap of $6.94 billion, a PE ratio of 7.02 and a beta of 1.10. New Residential Investment Corp has a twelve month low of $13.86 and a twelve month 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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.03. The business had revenue of $266.00 million during the quarter, compared to the consensus estimate of $210.42 million. New Residential Investment had a return on equity of 13.88% and a net margin of 57.58%. During the same period in the previous year, the firm posted $0.61 earnings per share. As a group, equities research analysts forecast that New Residential Investment Corp will post 2.27 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Thursday, April 4th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $2.00 annualized dividend and a yield of 11.97%. New Residential Investment’s payout ratio is 84.03%.

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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 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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Institutional Ownership by Quarter for New Residential Investment (NYSE:NRZ)

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