Eidelman Virant Capital reduced its stake in New Residential Investment Corp. (NYSE: NRZ – Get Rating) by 3.9% in the first quarter, according to its latest filing with the Securities and Exchange Commission (SEC). The company held 31,000 shares of the real estate investment trust after selling 1,250 shares during the period. Eidelman Virant Capital’s holdings in New Residential Investment were worth $340,000 at the end of the last reporting period.
Several other institutional investors and hedge funds also bought and sold shares of NRZ. Bank of America Corp DE increased its stake in shares of New Residential Investment by 43.7% during the fourth quarter. Bank of America Corp DE now owns 5,520,123 shares of the real estate investment trust valued at $59,121,000 after purchasing an additional 1,679,722 shares during the period. Invesco Ltd. increased its stake in shares of New Residential Investment by 167.8% during the fourth quarter. Invesco Ltd. now owns 1,932,972 shares of the real estate investment trust valued at $20,702,000 after purchasing an additional 1,211,245 shares during the period. Deer Park Road Corp bought a new stock position in New Residential Investment during the fourth quarter, valued at approximately $9,733,000. Vaughan Nelson Investment Management LP increased its stake in shares of New Residential Investment by 42.3% during the fourth quarter. Vaughan Nelson Investment Management LP now owns 2,591,121 shares of the real estate investment trust valued at $27,750,000 after purchasing an additional 770,386 shares during the period. Finally, LSV Asset Management increased its stake in Nouvelle Investissement Logement shares by 11.3% during the fourth quarter. LSV Asset Management now owns 5,847,061 shares of the real estate investment trust valued at $62,622,000 after purchasing an additional 595,848 shares during the period. 46.48% of the shares are currently held by hedge funds and other institutional investors.
New residential investment stocks traded down $0.04 by midday Wednesday, hitting $9.36. The company had a trading volume of 205,023 shares, compared to an average volume of 6,554,039. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt ratio of 0.09. The stock’s 50-day moving average price is $10.61 and its two-hundred-day moving average price is $10.65. New Residential Investment Corp. has a 12-month low of $8.18 and a 12-month high of $11.81. The company has a market capitalization of $4.37 billion, a PE ratio of 4.16 and a beta of 1.66.
New Residential Investment (NYSE:NRZ – Get Rating) last released its results on Tuesday, May 3. The real estate investment trust reported EPS of $0.37 for the quarter, beating the consensus estimate of $0.35 by $0.02. The new residential investment had a return on equity of 13.84% and a net margin of 28.82%. During the same period of the previous year, the company achieved EPS of $0.34. Equity research analysts predict that New Residential Investment Corp. will post an EPS of 1.16 for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 29. Shareholders of record on Friday, July 1 will receive a dividend of $0.25. This represents a dividend of $1.00 on an annualized basis and a yield of 10.68%. The ex-dividend date is Thursday, June 30. The New Residential Investment payout rate is 44.25%.
NRZ has been the subject of several research reports. Piper Sandler downgraded New Residential Investment from a “neutral” rating to an “underweight” rating and lowered its price target for the company from $12.00 to $10.00 in a Monday 13 research report. June. Raymond James raised its price target on new residential investment from $13.00 to $13.50 and gave the company an “outperform” rating in a research report on Tuesday, March 29. Finally, StockNews.com upgraded New Residential Investment from a “hold” rating to a “buy” rating in a Monday, May 9 research report. One research analyst rated the stock with a sell rating and seven rated the company’s stock with a buy rating. According to data from MarketBeat, the stock has an average rating of “moderate buy” and an average target price of $12.20.
New Home Investment Business Profile (Get a rating)
New Residential Investment Corp. operates as a real estate investment trust in the United States. It operates through Origination, Servicing, MSR Related Investments, Residential Securities, Properties and Loans, Consumer Loans, Mortgage Loans and Corporate segments. The Company invests in mortgage servicing rights, mortgage origination and servicing companies, residential mortgage-backed securities, property and loans, consumer loans and other opportunistic investments.
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