Gator Capital Management LLC Takes Position in New Residential Inv (NRZ)

Gator Capital Management LLC acquired a new stake in shares of New Residential Inv (NYSE:NRZ) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,684 shares of the real estate investment trust’s stock, valued at approximately $258,000.

A number of other institutional investors have also recently bought and sold shares of NRZ. Wellington Shields & Co. LLC increased its position in New Residential Inv by 10.9% in the first quarter. Wellington Shields & Co. LLC now owns 30,500 shares of the real estate investment trust’s stock worth $502,000 after buying an additional 3,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in New Residential Inv by 18.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,053 shares of the real estate investment trust’s stock worth $330,000 after buying an additional 3,177 shares in the last quarter. OppenheimerFunds Inc. increased its position in New Residential Inv by 32.4% in the fourth quarter. OppenheimerFunds Inc. now owns 13,865 shares of the real estate investment trust’s stock worth $248,000 after buying an additional 3,395 shares in the last quarter. Amalgamated Bank increased its position in New Residential Inv by 6.3% in the fourth quarter. Amalgamated Bank now owns 58,893 shares of the real estate investment trust’s stock worth $1,053,000 after buying an additional 3,504 shares in the last quarter. Finally, State of Wisconsin Investment Board increased its position in New Residential Inv by 5.7% in the first quarter. State of Wisconsin Investment Board now owns 66,483 shares of the real estate investment trust’s stock worth $1,094,000 after buying an additional 3,584 shares in the last quarter. Institutional investors own 53.29% of the company’s stock.

A number of analysts have commented on NRZ shares. Vetr upgraded New Residential Inv from a “buy” rating to a “strong-buy” rating and set a $18.86 price target for the company in a research report on Friday, March 23rd. ValuEngine lowered New Residential Inv from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 2nd. B. Riley set a $19.00 price objective on New Residential Inv and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Finally, Zacks Investment Research raised New Residential Inv from a “hold” rating to a “strong-buy” rating and set a $20.00 price objective for the company in a research note on Friday, May 4th. Eight investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $19.01.

NYSE NRZ opened at $18.15 on Thursday. The stock has a market capitalization of $6.09 billion, a PE ratio of 6.41 and a beta of 0.90. New Residential Inv has a twelve month low of $15.04 and a twelve month high of $18.43.

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

The company also recently declared a quarterly dividend, which was paid on Friday, April 27th. Investors of record on Monday, April 2nd were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 11.02%. The ex-dividend date was Thursday, March 29th. New Residential Inv’s payout ratio is presently 70.67%.

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.

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

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