Chicago Equity Partners LLC increased its stake in shares of New Residential Investment Corp (NYSE:NRZ) by 7.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 673,085 shares of the real estate investment trust’s stock after purchasing an additional 49,140 shares during the quarter. Chicago Equity Partners LLC owned 0.20% of New Residential Investment worth $11,994,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of NRZ. Suntrust Banks Inc. lifted its holdings in shares of New Residential Investment by 10.7% during the first quarter. Suntrust Banks Inc. now owns 44,426 shares of the real estate investment trust’s stock worth $730,000 after purchasing an additional 4,291 shares during the period. Clinton Group Inc. acquired a new stake in shares of New Residential Investment during the second quarter worth $2,527,000. KAMES CAPITAL plc lifted its holdings in shares of New Residential Investment by 14.3% during the second quarter. KAMES CAPITAL plc now owns 909,447 shares of the real estate investment trust’s stock worth $15,906,000 after purchasing an additional 113,936 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of New Residential Investment by 39.9% during the second quarter. State of Alaska Department of Revenue now owns 36,480 shares of the real estate investment trust’s stock worth $638,000 after purchasing an additional 10,410 shares during the period. Finally, Menlo Advisors LLC lifted its holdings in shares of New Residential Investment by 5.5% during the second quarter. Menlo Advisors LLC now owns 142,235 shares of the real estate investment trust’s stock worth $2,487,000 after purchasing an additional 7,445 shares during the period. 52.68% of the stock is owned by hedge funds and other institutional investors.
New Residential Investment stock opened at $17.22 on Friday. New Residential Investment Corp has a one year low of $15.24 and a one year high of $18.75. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of 7.17, a price-to-earnings-growth ratio of 7.41 and a beta of 0.87.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 26th. Shareholders of record on Monday, October 1st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 11.61%. The ex-dividend date of this dividend was Friday, September 28th. New Residential Investment’s dividend payout ratio (DPR) is currently 70.67%.
Several brokerages recently weighed in on NRZ. Barclays increased their price target on New Residential Investment from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, July 25th. Zacks Investment Research downgraded New Residential Investment from a “buy” rating to a “hold” rating in a report on Saturday, August 11th. Finally, Raymond James began coverage on New Residential Investment in a report on Friday, October 5th. They issued an “outperform” rating and a $20.00 target price for the company. Two research analysts have rated the stock with a hold rating, four have given 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 price target of $19.81.
About New Residential Investment
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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