Kestra Advisory Services LLC has increased its stake in New Residential Investment Corp. (NYSE: NRZ – Get Rating) by 7.0% in the first quarter, according to the company in its latest filing with the Securities and Exchange Commission (SEC). The fund held 64,283 shares of the real estate investment trust after acquiring an additional 4,184 shares during the quarter. Kestra Advisory Services LLC’s holdings in New Residential Investment were worth $706,000 at the end of the last quarter.
A number of other institutional investors and hedge funds have also recently changed their NRZ holdings. Kestra Private Wealth Services LLC acquired a new stake in New Residential Investment during the 4th quarter for a value of approximately $132,000. National Bank Huntington acquired a new stake in New Residential Investment during the 4th quarter for a value of approximately $32,000. Rothschild Investment Corp IL increased its stake in New Residential Investment by 67.1% during the 4th quarter. Rothschild Investment Corp IL now owns 50,114 shares of the real estate investment trust worth $537,000 after buying 20,118 additional shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV increased its stake in New Residential Investment by 22.1% during the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 13,800 shares of the real estate investment trust worth $148,000 after purchasing an additional 2,500 shares in the last quarter. Finally, National Bank of Canada FI acquired a new stake in New Residential Investment during the 4th quarter for a value of approximately $42,000. 46.48% of the stock is held by institutional investors.
Changes to analyst ratings
A number of research companies have recently published reports on NRZ. Raymond James raised his target price on the new residential investment from $13.00 to $13.50 and gave the stock an “outperform” rating in a Tuesday, March 29 research note. StockNews.com upgraded New Residential Investment from a “hold” to a “buy” rating in a Monday, May 9 research note. Finally, Piper Sandler downgraded shares of New Residential Investment from a “neutral” rating to an “underweight” rating and lowered her price target for the stock from $12.00 to $10.00 in a research note from Monday, June 13. One analyst rated the stock with a sell rating and seven rated the stock with a buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.20.
Price performance of new residential investments
NRZ shares opened at $10.04 on Wednesday. The stock has a market capitalization of $4.69 billion, a P/E ratio of 4.44 and a beta of 1.67. New Residential Investment Corp. has a 12-month low of $8.18 and a 12-month high of $11.81. The company has a 50-day moving average of $10.16 and a 200-day moving average of $10.46. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt ratio of 0.09.
New Residential Investment (NYSE:NRZ – Get Rating) last released its quarterly results on Tuesday, May 3. The real estate investment trust reported earnings per share of $0.37 for the quarter, beating the consensus estimate of $0.35 by $0.02. New Residential Investments generated a net margin of 28.82% and a return on equity of 13.84%. In the same quarter a year earlier, the company posted earnings per share of $0.34. As a group, equity research analysts predict that New Residential Investment Corp. will post an EPS of 1.21 for the current fiscal year.
New residential investment announces dividend
The company also recently disclosed 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 an annualized dividend of $1.00 and a dividend yield of 9.96%. The ex-date of this dividend is Thursday, June 30. The New Residential Investment payout rate is currently 44.25%.
New Home Investment Business Profile
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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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