TCG Advisors LP grew its stake in New Residential Investment Corp (NYSE:NRZ) by 127.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 6,600 shares of the real estate investment trust’s stock after acquiring an additional 3,700 shares during the period. TCG Advisors LP’s holdings in New Residential Investment were worth $101,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake 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 purchasing an additional 2,755,787 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in shares of 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 during the period. Atria Investments LLC purchased a new stake in shares of New Residential Investment during the second quarter worth $10,788,000. Laurion Capital Management LP acquired a new stake in shares of New Residential Investment in the first quarter valued at $16,756,000. Finally, Geode Capital Management LLC raised its stake in shares of New Residential Investment by 14.3% in the fourth quarter. Geode Capital Management LLC now owns 4,380,624 shares of the real estate investment trust’s stock valued at $62,408,000 after acquiring an additional 549,115 shares in the last quarter. 53.25% of the stock is currently owned by institutional investors and hedge funds.
NRZ has been the subject of several analyst reports. Wedbush reissued an “outperform” rating on shares of New Residential Investment in a research note on Monday, August 19th. ValuEngine cut New Residential Investment from a “hold” rating to a “sell” rating in a research note on Tuesday, July 9th. B. Riley set a $19.00 price objective on New Residential Investment and gave the stock a “buy” rating in a research report on Thursday, August 29th. Zacks Investment Research downgraded New Residential Investment from a “hold” rating to a “sell” rating in a research report on Tuesday, September 3rd. Finally, BTIG Research initiated coverage on shares of New Residential Investment in a research note on Friday, September 6th. They set a “buy” rating and a $18.00 target price on the stock. Two research analysts have rated the stock with a sell rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $18.75.
Shares of NRZ stock traded up $0.10 on Wednesday, reaching $15.16. 136,613 shares of the stock were exchanged, compared to its average volume of 3,462,757. The business’s 50 day moving average price is $14.68 and its 200 day moving average price is $15.85. The company has a market capitalization of $6.26 billion, a price-to-earnings ratio of 6.37 and a beta of 1.10. New Residential Investment Corp has a twelve month low of $13.63 and a twelve month high of $18.62.
New Residential Investment (NYSE:NRZ) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.01). The business had revenue of $188.04 million during the quarter, compared to analyst estimates of $240.28 million. New Residential Investment had a net margin of 17.24% and a return on equity of 13.22%. During the same quarter in the prior year, the business earned $0.58 earnings per share. On average, sell-side analysts anticipate that New Residential Investment Corp will post 2.15 earnings per share for the current year.
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.
Further Reading: Cost of Equity For A Business, Investors
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