Signaturefd LLC grew its holdings in New Residential Investment Corp (NYSE:NRZ) by 109.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,088 shares of the real estate investment trust’s stock after buying an additional 4,233 shares during the quarter. Signaturefd LLC’s holdings in New Residential Investment were worth $141,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of NRZ. Victory Capital Management Inc. boosted its stake in shares of New Residential Investment by 214.0% in the second quarter. Victory Capital Management Inc. now owns 7,292 shares of the real estate investment trust’s stock worth $128,000 after acquiring an additional 4,970 shares during the last quarter. Ostrum Asset Management acquired a new stake in shares of New Residential Investment in the first quarter worth approximately $170,000. Wesbanco Bank Inc. acquired a new stake in shares of New Residential Investment in the second quarter worth approximately $177,000. Hilltop Holdings Inc. acquired a new stake in shares of New Residential Investment in the first quarter worth approximately $179,000. Finally, People s United Financial Inc. acquired a new stake in shares of New Residential Investment in the second quarter worth approximately $195,000. Institutional investors and hedge funds own 52.45% of the company’s stock.
A number of analysts have recently issued reports on NRZ shares. Zacks Investment Research raised New Residential Investment from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Wednesday, July 25th. ValuEngine lowered New Residential Investment from a “buy” rating to a “hold” rating in a research note on Saturday, June 2nd. Finally, Barclays lifted their price target on New Residential Investment from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 25th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $19.85.
New Residential Investment (NYSE:NRZ) last issued its quarterly earnings results on Thursday, July 26th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.04. The firm had revenue of $269.89 million for the quarter, compared to analyst estimates of $130.70 million. New Residential Investment had a return on equity of 14.85% and a net margin of 83.31%. During the same period in the previous year, the company posted $1.03 earnings per share. research analysts predict that New Residential Investment Corp will post 2.29 EPS for the current fiscal year.
In other New Residential Investment news, CEO Michael Nierenberg sold 339,177 shares of the business’s stock in a transaction on Tuesday, June 26th. The stock was sold at an average price of $18.30, for a total transaction of $6,206,939.10. Following the transaction, the chief executive officer now owns 2,085,352 shares of the company’s stock, valued at $38,161,941.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.00% of the company’s stock.
New Residential Investment 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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