New Residential Investment Corp (NYSE:NRZ) Shares Purchased by Private Advisory Group LLC

Private Advisory Group LLC raised its stake in New Residential Investment Corp (NYSE:NRZ) by 100.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,219 shares of the real estate investment trust’s stock after purchasing an additional 13,129 shares during the period. Private Advisory Group LLC’s holdings in New Residential Investment were worth $404,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in NRZ. Penserra Capital Management LLC purchased a new position in New Residential Investment in the first quarter valued at approximately $25,000. Trust Co. of Vermont purchased a new position in New Residential Investment in the first quarter valued at approximately $27,000. Private Capital Group LLC purchased a new position in New Residential Investment in the first quarter valued at approximately $28,000. Cedar Wealth Management LLC increased its stake in New Residential Investment by 50.0% in the first quarter. Cedar Wealth Management LLC now owns 1,800 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 600 shares during the last quarter. Finally, First Manhattan Co. increased its stake in New Residential Investment by 120.0% in the first quarter. First Manhattan Co. now owns 2,200 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 1,200 shares during the last quarter. Institutional investors own 53.36% of the company’s stock.

Shares of NRZ traded down $0.42 during mid-day trading on Monday, reaching $14.95. 3,485,234 shares of the company’s stock were exchanged, compared to its average volume of 3,146,793. The stock has a market cap of $6.22 billion, a PE ratio of 6.28 and a beta of 1.07. The stock’s fifty day simple moving average is $15.50. New Residential Investment Corp has a 52-week low of $13.86 and a 52-week high of $18.75.

New Residential Investment (NYSE:NRZ) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.01). The business had revenue of $188.04 million for the quarter, compared to analysts’ expectations of $240.28 million. New Residential Investment had a return on equity of 13.49% and a net margin of 17.24%. During the same quarter last year, the business posted $0.58 earnings per share. On average, sell-side analysts forecast that New Residential Investment Corp will post 2.19 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Monday, July 1st were given a dividend of $0.50 per share. The ex-dividend date was Friday, June 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 13.37%. New Residential Investment’s dividend payout ratio (DPR) is presently 84.03%.

NRZ has been the topic of several recent analyst reports. ValuEngine lowered shares of New Residential Investment from a “hold” rating to a “sell” rating in a research note on Tuesday, July 9th. Zacks Investment Research upgraded shares of New Residential Investment from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $18.88.

In other New Residential Investment news, Director Andrew Sloves bought 1,800 shares of the stock in a transaction dated Tuesday, May 14th. The shares were acquired at an average cost of $16.65 per share, for a total transaction of $29,970.00. Following the completion of the transaction, the director now owns 29,481 shares in the company, valued at approximately $490,858.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.47% of the company’s stock.

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

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