New Residential Investment Corp (NYSE:NRZ) Director Andrew Sloves purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was bought at an average price of $15.93 per share, for a total transaction of $15,930.00. Following the completion of the acquisition, the director now directly owns 36,535 shares in the company, valued at approximately $582,002.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
New Residential Investment stock opened at $16.21 on Friday. The stock has a market capitalization of $6.70 billion, a price-to-earnings ratio of 6.81 and a beta of 1.10. New Residential Investment Corp has a 1-year low of $13.63 and a 1-year high of $17.82. The business has a fifty day moving average price of $15.49 and a 200-day moving average price of $15.49.
New Residential Investment (NYSE:NRZ) last posted its quarterly earnings data on Friday, October 25th. The real estate investment trust reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.01). The business had revenue of $202.23 million during the quarter, compared to analyst estimates 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 period in the previous year, the business earned $0.63 EPS. As a group, equities research analysts forecast that New Residential Investment Corp will post 2.08 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 3rd were given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 12.34%. New Residential Investment’s payout ratio is 84.03%.
A number of brokerages have recently issued reports on NRZ. Piper Jaffray Companies cut their price target on New Residential Investment from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. Zacks Investment Research upgraded New Residential Investment from a “sell” rating to a “hold” rating in a report on Friday, November 1st. ValuEngine upgraded New Residential Investment from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Wedbush reiterated an “outperform” rating on shares of New Residential Investment in a report on Monday, August 19th. Finally, 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. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. New Residential Investment has an average rating of “Buy” and an average price target of $18.00.
Institutional investors have recently bought and sold shares of the company. Personal Wealth Partners acquired a new stake in shares of New Residential Investment in the 2nd quarter worth $29,000. Liberty Wealth Management LLC boosted its position in shares of New Residential Investment by 60.8% in the 2nd quarter. Liberty Wealth Management LLC now owns 2,531 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 957 shares in the last quarter. Optimum Investment Advisors boosted its position in shares of New Residential Investment by 166.0% in the 2nd quarter. Optimum Investment Advisors now owns 3,525 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 2,200 shares in the last quarter. AdvisorNet Financial Inc boosted its position in shares of New Residential Investment by 445.5% in the 2nd quarter. AdvisorNet Financial Inc now owns 4,020 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 3,283 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of New Residential Investment by 33.8% in the 2nd quarter. Signaturefd LLC now owns 5,603 shares of the real estate investment trust’s stock worth $86,000 after purchasing an additional 1,415 shares in the last quarter. 52.67% of the stock is owned by hedge funds and other institutional investors.
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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