M&R Capital Management Inc. Raises Stake in New Residential Investment Corp. (NYSE:NRZ)


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M&R Capital Management Inc. boosted its position in New Residential Investment Corp. (NYSE:NRZ) by 235.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 16,080 shares of the real estate investment trust’s stock after purchasing an additional 11,280 shares during the period. M&R Capital Management Inc.’s holdings in New Residential Investment were worth $180,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. boosted its position in New Residential Investment by 10.4% in the 4th quarter. BlackRock Inc. now owns 27,382,429 shares of the real estate investment trust’s stock worth $272,182,000 after purchasing an additional 2,580,408 shares in the last quarter. Norges Bank acquired a new position in shares of New Residential Investment during the 4th quarter worth approximately $53,389,000. Charles Schwab Investment Management Inc. raised its stake in shares of New Residential Investment by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,276,914 shares of the real estate investment trust’s stock worth $32,573,000 after buying an additional 74,258 shares during the period. Telemus Capital LLC raised its stake in shares of New Residential Investment by 28.8% during the 4th quarter. Telemus Capital LLC now owns 2,431,751 shares of the real estate investment trust’s stock worth $24,172,000 after buying an additional 543,502 shares during the period. Finally, Credit Suisse AG raised its stake in shares of New Residential Investment by 47.4% during the 4th quarter. Credit Suisse AG now owns 2,294,057 shares of the real estate investment trust’s stock worth $22,803,000 after buying an additional 737,227 shares during the period. Hedge funds and other institutional investors own 46.54% of the company’s stock.

Shares of NRZ stock opened at $11.02 on Thursday. The business’s 50 day moving average is $10.69 and its two-hundred day moving average is $9.46. New Residential Investment Corp. has a twelve month low of $4.12 and a twelve month high of $11.48. The company has a market capitalization of $4.57 billion, a P/E ratio of -3.47 and a beta of 1.87. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.12.

New Residential Investment (NYSE:NRZ) last posted its quarterly earnings results on Monday, February 8th. The real estate investment trust reported $0.32 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.32. New Residential Investment had a positive return on equity of 14.58% and a negative net margin of 96.73%. The firm had revenue of $570.70 million for the quarter, compared to the consensus estimate of $768.75 million. During the same period in the previous year, the business earned $0.61 earnings per share. The company’s revenue for the quarter was down 15.9% compared to the same quarter last year. As a group, equities analysts predict that New Residential Investment Corp. will post 1.46 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 30th. Shareholders of record on Monday, April 5th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, April 1st. This represents a $0.80 dividend on an annualized basis and a yield of 7.26%. New Residential Investment’s payout ratio is 36.87%.

Several research firms recently commented on NRZ. JMP Securities increased their price objective on New Residential Investment from $9.50 to $10.00 and gave the company a “market outperform” rating in a research note on Friday, January 22nd. Piper Sandler raised their target price on New Residential Investment from $10.00 to $11.00 in a research note on Tuesday, February 16th. Royal Bank of Canada initiated coverage on New Residential Investment in a report on Wednesday, March 31st. They set an “outperform” rating and a $12.00 price target for the company. Raymond James increased their price target on New Residential Investment from $11.50 to $12.50 and gave the stock an “outperform” rating in a report on Wednesday, February 10th. Finally, Zacks Investment Research cut New Residential Investment from a “buy” rating to a “hold” rating in a report on Tuesday, February 16th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $11.13.

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 five segments: Origination, Servicing, MSR Related Investments, Residential Securities and Loans, and Consumer Loans. 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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Institutional Ownership by Quarter for New Residential Investment (NYSE:NRZ)

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