BlackRock Inc. Purchases 983,142 Shares of New Residential Investment Corp (NYSE:NRZ)

BlackRock Inc. boosted its stake in New Residential Investment Corp (NYSE:NRZ) by 3.9% in the second quarter, HoldingsChannel reports. The firm owned 25,928,104 shares of the real estate investment trust’s stock after acquiring an additional 983,142 shares during the period. BlackRock Inc. owned 0.06% of New Residential Investment worth $399,033,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Phocas Financial Corp. bought a new stake in New Residential Investment in the second quarter valued at about $2,084,000. Personal Wealth Partners bought a new stake in New Residential Investment in the second quarter valued at about $29,000. Liberty Wealth Management LLC increased its holdings in New Residential Investment by 60.8% in the second 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 during the last quarter. Optimum Investment Advisors increased its holdings in New Residential Investment by 166.0% in the second 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 during the last quarter. Finally, AdvisorNet Financial Inc increased its holdings in New Residential Investment by 445.5% in the second 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 during the last quarter. Institutional investors and hedge funds own 52.34% of the company’s stock.

In other New Residential Investment news, Director Robert Mcginnis purchased 4,500 shares of the stock in a transaction on Wednesday, October 30th. The stock was bought at an average cost of $15.73 per share, for a total transaction of $70,785.00. Following the completion of the acquisition, the director now directly owns 61,243 shares of the company’s stock, valued at $963,352.39. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.47% of the stock is owned by corporate insiders.

A number of equities research analysts recently commented on the company. Wedbush reiterated an “outperform” rating on shares of New Residential Investment in a report on Monday, August 19th. BTIG Research assumed coverage on New Residential Investment in a report on Friday, September 6th. They issued a “buy” rating and a $18.00 price objective for the company. Zacks Investment Research upgraded New Residential Investment from a “sell” rating to a “hold” rating in a report on Friday, November 1st. B. Riley set a $18.50 price objective on New Residential Investment and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Piper Jaffray Companies dropped their price objective on New Residential Investment from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, October 4th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. New Residential Investment presently has an average rating of “Buy” and an average target price of $18.00.

Shares of New Residential Investment stock opened at $16.05 on Thursday. New Residential Investment Corp has a 1 year low of $13.63 and a 1 year high of $17.81. The business has a 50-day moving average of $15.56 and a two-hundred day moving average of $15.48. The company has a market capitalization of $6.74 billion, a P/E ratio of 6.74 and a beta of 1.10.

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

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 3rd were issued a $0.50 dividend. The ex-dividend date was Wednesday, October 2nd. This represents a $2.00 annualized dividend and a dividend yield of 12.46%. New Residential Investment’s dividend payout ratio (DPR) is currently 84.03%.

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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