LSV Asset Management Boosts Stake in New Residential Inv (NRZ)

LSV Asset Management lifted its stake in shares of New Residential Inv (NYSE:NRZ) by 1.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 659,200 shares of the real estate investment trust’s stock after buying an additional 12,300 shares during the period. LSV Asset Management owned approximately 0.20% of New Residential Inv worth $10,843,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Telemus Capital LLC lifted its stake in shares of New Residential Inv by 12.4% during the fourth quarter. Telemus Capital LLC now owns 394,620 shares of the real estate investment trust’s stock worth $7,056,000 after buying an additional 43,650 shares during the period. Xact Kapitalforvaltning AB acquired a new stake in shares of New Residential Inv during the fourth quarter worth $383,000. Teacher Retirement System of Texas lifted its stake in shares of New Residential Inv by 314.8% during the fourth quarter. Teacher Retirement System of Texas now owns 105,340 shares of the real estate investment trust’s stock worth $1,883,000 after buying an additional 79,947 shares during the period. EnTrustPermal Partners Offshore LP acquired a new position in New Residential Inv during the fourth quarter valued at $2,995,000. Finally, Bank of Montreal Can lifted its position in New Residential Inv by 535.6% during the fourth quarter. Bank of Montreal Can now owns 2,640,397 shares of the real estate investment trust’s stock valued at $47,210,000 after purchasing an additional 2,225,000 shares during the period. Institutional investors and hedge funds own 48.02% of the company’s stock.

NYSE NRZ opened at $18.06 on Friday. New Residential Inv has a 1 year low of $15.04 and a 1 year high of $18.43. The firm has a market cap of $6.05 billion, a P/E ratio of 6.38 and a beta of 0.90.

New Residential Inv (NYSE:NRZ) last released its quarterly earnings data on Friday, April 27th. The real estate investment trust reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. New Residential Inv had a net margin of 89.43% and a return on equity of 18.15%. The company had revenue of $259.19 million during the quarter, compared to analysts’ expectations of $185.89 million. During the same quarter in the previous year, the company earned $0.54 earnings per share. equities analysts anticipate that New Residential Inv will post 2.29 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 27th. Shareholders of record on Monday, April 2nd were issued a $0.50 dividend. The ex-dividend date was Thursday, March 29th. This represents a $2.00 dividend on an annualized basis and a yield of 11.07%. New Residential Inv’s payout ratio is 70.67%.

NRZ has been the subject of a number of research reports. Vetr upgraded shares of New Residential Inv from a “buy” rating to a “strong-buy” rating and set a $18.86 target price for the company in a research report on Friday, March 23rd. ValuEngine downgraded shares of New Residential Inv from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 2nd. B. Riley set a $19.00 target price on shares of New Residential Inv and gave the company a “buy” rating in a research report on Tuesday, February 13th. Finally, Zacks Investment Research upgraded shares of New Residential Inv from a “sell” rating to a “hold” rating in a research report on Thursday, March 15th. Eight research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. New Residential Inv currently has an average rating of “Buy” and an average target price of $19.01.

New Residential Inv 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 Related Assets, Residential Securities and Loans, and Other Investments 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.

Institutional Ownership by Quarter for New Residential Inv (NYSE:NRZ)

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