New Residential Inv (NRZ) Position Cut by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. lowered its stake in shares of New Residential Inv (NYSE:NRZ) by 1.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,948,815 shares of the real estate investment trust’s stock after selling 61,100 shares during the period. Vaughan Nelson Investment Management L.P. owned approximately 1.17% of New Residential Inv worth $64,958,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of New Residential Inv during the first quarter valued at about $106,000. Glassman Wealth Services acquired a new position in shares of New Residential Inv during the first quarter valued at about $111,000. American International Group Inc. acquired a new position in shares of New Residential Inv during the fourth quarter valued at about $115,000. Bronfman E.L. Rothschild L.P. acquired a new position in shares of New Residential Inv during the first quarter valued at about $158,000. Finally, Grisanti Capital Management LLC acquired a new position in shares of New Residential Inv during the fourth quarter valued at about $197,000. Hedge funds and other institutional investors own 53.29% of the company’s stock.

NRZ opened at $18.16 on Tuesday. New Residential Inv has a fifty-two week low of $15.04 and a fifty-two week high of $18.43. The stock has a market capitalization of $6.07 billion, a P/E ratio of 6.42 and a beta of 0.90.

New Residential Inv (NYSE:NRZ) last posted its earnings results on Friday, April 27th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 for the quarter, compared to analyst estimates of $185.89 million. During the same quarter in the prior year, the business posted $0.54 EPS. analysts expect that New Residential Inv will post 2.29 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 27th. Investors 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 dividend yield of 11.02%. New Residential Inv’s dividend payout ratio is presently 70.67%.

Several equities analysts have recently weighed in on NRZ shares. ValuEngine lowered shares of New Residential Inv from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. Vetr upgraded shares of New Residential Inv from a “buy” rating to a “strong-buy” rating and set a $18.76 price objective on the stock in a report on Monday, February 5th. B. Riley set a $19.00 price objective on shares of New Residential Inv and gave the company a “buy” rating in a 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 report on Thursday, March 15th. Eight equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $19.01.

New Residential Inv 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 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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