Stifel Financial Corp boosted its holdings in shares of New Residential Investment Corp (NYSE:NRZ) by 24.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 572,911 shares of the real estate investment trust’s stock after acquiring an additional 112,349 shares during the quarter. Stifel Financial Corp owned 0.14% of New Residential Investment worth $8,997,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Phocas Financial Corp. purchased a new stake in New Residential Investment in the second quarter worth $2,084,000. Personal Wealth Partners bought a new position in New Residential Investment in the 2nd quarter worth about $29,000. Liberty Wealth Management LLC increased its position in shares of New Residential Investment by 60.8% during the second quarter. Liberty Wealth Management LLC now owns 2,531 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 957 shares during the period. Optimum Investment Advisors raised its stake in shares of New Residential Investment by 166.0% during the second quarter. Optimum Investment Advisors now owns 3,525 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 2,200 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of New Residential Investment by 33.8% during the second quarter. Signaturefd LLC now owns 5,603 shares of the real estate investment trust’s stock valued at $86,000 after acquiring an additional 1,415 shares in the last quarter. Institutional investors own 51.36% of the company’s stock.
In related news, Director Robert Mcginnis acquired 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average cost of $15.73 per share, for a total transaction of $70,785.00. Following the purchase, the director now directly owns 61,243 shares of the company’s stock, valued at approximately $963,352.39. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is currently owned by company insiders.
New Residential Investment (NYSE:NRZ) last released its quarterly earnings data on Friday, October 25th. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.01). The business had revenue of $202.23 million for the quarter, compared to the consensus estimate of $227.21 million. New Residential Investment had a net margin of 19.60% and a return on equity of 12.69%. During the same quarter in the prior year, the business posted $0.63 earnings per share. Sell-side analysts expect that New Residential Investment Corp will post 2.07 EPS for the current fiscal year.
Several research analysts recently issued reports on NRZ shares. BTIG Research initiated coverage on New Residential Investment in a research note on Friday, September 6th. They issued a “buy” rating and a $18.00 price objective on the stock. Wedbush reaffirmed an “outperform” rating on shares of New Residential Investment in a research report on Monday, August 19th. Piper Jaffray Companies cut New Residential Investment from an “overweight” rating to a “neutral” rating and set a $16.00 target price for the company. in a report on Thursday, November 14th. Zacks Investment Research raised New Residential Investment from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Finally, ValuEngine raised New Residential Investment from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $18.14.
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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