Bronfman E.L. Rothschild L.P. boosted its holdings in New Residential Investment Corp (NYSE:NRZ) by 29.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,269 shares of the real estate investment trust’s stock after buying an additional 2,323 shares during the period. Bronfman E.L. Rothschild L.P.’s holdings in New Residential Investment were worth $146,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the stock. Russell Investments Group Ltd. grew its stake in New Residential Investment by 22.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 68,246 shares of the real estate investment trust’s stock worth $1,216,000 after buying an additional 12,433 shares during the last quarter. Victory Capital Management Inc. grew its stake in New Residential Investment by 50.1% during the 3rd quarter. Victory Capital Management Inc. now owns 10,947 shares of the real estate investment trust’s stock worth $195,000 after buying an additional 3,655 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in New Residential Investment by 24.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 93,585 shares of the real estate investment trust’s stock worth $1,668,000 after buying an additional 18,313 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in New Residential Investment by 10.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 178,717 shares of the real estate investment trust’s stock worth $3,184,000 after buying an additional 16,718 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in New Residential Investment during the 3rd quarter worth $974,000. Institutional investors and hedge funds own 48.19% of the company’s stock.
Shares of NRZ stock opened at $16.90 on Friday. New Residential Investment Corp has a 1 year low of $13.86 and a 1 year high of $18.75. The firm has a market cap of $6.85 billion, a price-to-earnings ratio of 7.10, a price-to-earnings-growth ratio of 7.32 and a beta of 1.11.
New Residential Investment (NYSE:NRZ) last announced its quarterly earnings results on Tuesday, February 12th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.03. New Residential Investment had a return on equity of 13.88% and a net margin of 57.58%. The company had revenue of $266.00 million during the quarter, compared to analyst estimates of $210.42 million. During the same quarter in the previous year, the firm posted $0.61 EPS. Sell-side analysts expect that New Residential Investment Corp will post 2.3 earnings per share for the current fiscal year.
In other New Residential Investment news, CEO Michael Nierenberg purchased 60,000 shares of New Residential Investment stock in a transaction on Friday, February 22nd. The stock was bought at an average price of $16.50 per share, for a total transaction of $990,000.00. Following the transaction, the chief executive officer now owns 995,352 shares of the company’s stock, valued at approximately $16,423,308. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.93% of the company’s stock.
A number of brokerages recently commented on NRZ. Zacks Investment Research downgraded New Residential Investment from a “hold” rating to a “sell” rating in a research note on Friday. Credit Suisse Group reiterated a “buy” rating and set a $18.00 price target on shares of New Residential Investment in a research report on Friday, January 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. New Residential Investment has a consensus rating of “Buy” and a consensus target price of $19.57.
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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