Atlantic Union Bankshares Corp lessened its holdings in shares of New Residential Investment Corp (NYSE:NRZ) by 6.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,300 shares of the real estate investment trust’s stock after selling 700 shares during the period. Atlantic Union Bankshares Corp’s holdings in New Residential Investment were worth $162,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in NRZ. First Trust Advisors LP boosted its position in shares of New Residential Investment by 7.1% during the first quarter. First Trust Advisors LP now owns 1,415,564 shares of the real estate investment trust’s stock valued at $23,937,000 after buying an additional 94,235 shares during the period. Nordea Investment Management AB boosted its position in shares of New Residential Investment by 476.5% during the first quarter. Nordea Investment Management AB now owns 3,361 shares of the real estate investment trust’s stock valued at $57,000 after buying an additional 2,778 shares during the period. Metropolitan Life Insurance Co NY boosted its position in shares of New Residential Investment by 9.3% during the first quarter. Metropolitan Life Insurance Co NY now owns 9,747 shares of the real estate investment trust’s stock valued at $164,000 after buying an additional 828 shares during the period. FMR LLC boosted its position in shares of New Residential Investment by 62.2% during the first quarter. FMR LLC now owns 779,914 shares of the real estate investment trust’s stock valued at $13,189,000 after buying an additional 299,097 shares during the period. Finally, Amundi Pioneer Asset Management Inc. boosted its holdings in shares of New Residential Investment by 50.8% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 250,386 shares of the real estate investment trust’s stock valued at $4,234,000 after purchasing an additional 84,355 shares during the period. Institutional investors and hedge funds own 52.67% of the company’s stock.
Shares of NYSE NRZ traded up $0.08 during trading hours on Friday, reaching $16.21. The stock had a trading volume of 3,010,998 shares, compared to its average volume of 3,720,572. The business’s fifty day moving average price is $15.49 and its two-hundred day moving average price is $15.49. The firm has a market cap of $6.70 billion, a price-to-earnings ratio of 6.81 and a beta of 1.10. New Residential Investment Corp has a 52-week low of $13.63 and a 52-week high of $17.82.
New Residential Investment (NYSE:NRZ) last posted its earnings results on Friday, October 25th. The real estate investment trust reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The company had revenue of $202.23 million for the quarter, compared to analysts’ expectations of $227.21 million. New Residential Investment had a return on equity of 12.69% and a net margin of 19.60%. During the same quarter in the prior year, the company earned $0.63 EPS. As a group, equities research analysts anticipate that New Residential Investment Corp will post 2.08 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 3rd were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, October 2nd. This represents a $2.00 dividend on an annualized basis and a yield of 12.34%. New Residential Investment’s dividend payout ratio is currently 84.03%.
A number of analysts recently issued reports on the company. B. Riley set a $18.50 price target on New Residential Investment and gave the company a “buy” rating in a report on Friday, October 25th. BTIG Research assumed coverage on New Residential Investment in a report on Friday, September 6th. They issued a “buy” rating and a $18.00 price target for the company. Piper Jaffray Companies lowered their price target on New Residential Investment from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, October 4th. ValuEngine upgraded New Residential Investment from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Zacks Investment Research upgraded New Residential Investment from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. New Residential Investment has a consensus rating of “Buy” and a consensus target price of $18.00.
In related news, Director Robert Mcginnis bought 4,500 shares of the stock in a transaction on Wednesday, October 30th. The stock was bought at an average price of $15.73 per share, for a total transaction of $70,785.00. Following the completion of the acquisition, the director now directly owns 61,243 shares in the company, valued at $963,352.39. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.47% of the stock is owned by corporate insiders.
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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