Biltmore Capital Advisors LLC Takes Position in New Residential Investment Corp (NYSE:NRZ)

Biltmore Capital Advisors LLC acquired a new stake in New Residential Investment Corp (NYSE:NRZ) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 10,500 shares of the real estate investment trust’s stock, valued at approximately $165,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Personal Wealth Partners acquired a new position in shares of New Residential Investment in the 2nd quarter valued at about $29,000. Liberty Wealth Management LLC lifted its stake in shares of New Residential Investment by 60.8% in the 2nd quarter. Liberty Wealth Management LLC now owns 2,531 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 957 shares in the last quarter. Optimum Investment Advisors lifted its stake in shares of New Residential Investment by 166.0% in the 2nd quarter. Optimum Investment Advisors now owns 3,525 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 2,200 shares in the last quarter. AdvisorNet Financial Inc lifted its stake in shares of New Residential Investment by 445.5% in the 2nd quarter. AdvisorNet Financial Inc now owns 4,020 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 3,283 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in shares of New Residential Investment by 33.8% in the 2nd quarter. Signaturefd LLC now owns 5,603 shares of the real estate investment trust’s stock valued at $86,000 after purchasing an additional 1,415 shares in the last quarter. 52.67% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:NRZ traded up $0.08 during mid-day trading on Friday, hitting $16.21. 3,025,423 shares of the company traded hands, compared to its average volume of 3,720,572. The firm has a market cap of $6.70 billion, a P/E ratio of 6.81 and a beta of 1.10. New Residential Investment Corp has a 52-week low of $13.63 and a 52-week high of $17.82. The firm’s 50 day simple moving average is $15.47 and its 200 day simple moving average is $15.49.

New Residential Investment (NYSE:NRZ) last announced its earnings results on Friday, October 25th. The real estate investment trust reported $0.50 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.01). The company had revenue of $202.23 million for the quarter, compared to analysts’ expectations of $227.21 million. New Residential Investment had a net margin of 19.60% and a return on equity of 12.69%. During the same quarter in the previous year, the business posted $0.63 earnings per share. On average, equities analysts expect that New Residential Investment Corp will post 2.08 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 3rd were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, October 2nd. This represents a $2.00 annualized dividend and a dividend yield of 12.34%. New Residential Investment’s payout ratio is currently 84.03%.

In related news, Director Robert Mcginnis bought 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average cost of $15.73 per share, for a total transaction of $70,785.00. Following the acquisition, the director now owns 61,243 shares in the company, valued at approximately $963,352.39. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.47% of the company’s stock.

NRZ has been the topic of several analyst reports. Wedbush reiterated an “outperform” rating on shares of New Residential Investment in a report on Monday, August 19th. BTIG Research initiated coverage on New Residential Investment in a report on Friday, September 6th. They set a “buy” rating and a $18.00 target price on the stock. ValuEngine upgraded New Residential Investment from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research upgraded New Residential Investment from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, Piper Jaffray Companies dropped their target price on New Residential Investment from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $18.00.

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 and Originations, Residential Securities and Loans, and Consumer Loans 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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Institutional Ownership by Quarter for New Residential Investment (NYSE:NRZ)

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