Ironsides Asset Advisors LLC lifted its position in shares of New Residential Investment Corp (NYSE:NRZ) by 73.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 38,500 shares of the real estate investment trust’s stock after purchasing an additional 16,300 shares during the quarter. Ironsides Asset Advisors LLC’s holdings in New Residential Investment were worth $593,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of NRZ. State Treasurer State of Michigan boosted its position in shares of New Residential Investment by 41.9% during the first quarter. State Treasurer State of Michigan now owns 10,154,734 shares of the real estate investment trust’s stock worth $171,717,000 after buying an additional 3,000,000 shares during the period. BlackRock Inc. raised its holdings in New Residential Investment by 12.4% during the first quarter. BlackRock Inc. now owns 24,944,962 shares of the real estate investment trust’s stock worth $421,818,000 after acquiring an additional 2,755,787 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in New Residential Investment by 16.5% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 8,278,265 shares of the real estate investment trust’s stock worth $139,986,000 after acquiring an additional 1,174,300 shares in the last quarter. Laurion Capital Management LP bought a new stake in New Residential Investment during the first quarter worth about $16,756,000. Finally, Geode Capital Management LLC raised its holdings in New Residential Investment by 14.3% during the fourth quarter. Geode Capital Management LLC now owns 4,380,624 shares of the real estate investment trust’s stock worth $62,408,000 after acquiring an additional 549,115 shares in the last quarter. 53.05% of the stock is owned by institutional investors.
Several analysts recently issued reports on the company. ValuEngine lowered New Residential Investment from a “hold” rating to a “sell” rating in a report on Tuesday, July 9th. Zacks Investment Research upgraded New Residential Investment from a “sell” rating to a “hold” rating in a 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 stock. The company presently has a consensus rating of “Hold” and a consensus price target of $18.88.
New Residential Investment (NYSE:NRZ) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.01). New Residential Investment had a return on equity of 13.22% and a net margin of 17.24%. The company had revenue of $188.04 million for the quarter, compared to the consensus estimate of $240.28 million. During the same quarter in the previous year, the company posted $0.58 EPS. As a group, sell-side analysts predict that New Residential Investment Corp will post 2.19 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Monday, July 1st were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $2.00 annualized dividend and a yield of 14.30%. New Residential Investment’s payout ratio is presently 84.03%.
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 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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