New Residential Investment Corp (NYSE:NRZ) saw a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 15,330,000 shares, a decline of 9.6% from the September 30th total of 16,950,000 shares. Based on an average trading volume of 3,360,000 shares, the short-interest ratio is currently 4.6 days. Currently, 3.7% of the shares of the company are short sold.
Shares of NYSE:NRZ traded down $0.04 during trading on Friday, hitting $15.20. 6,471,616 shares of the company were exchanged, compared to its average volume of 3,223,960. The business’s 50 day moving average is $15.55 and its 200-day moving average is $15.46. The company has a market capitalization of $6.33 billion, a P/E ratio of 7.12 and a beta of 1.10. New Residential Investment has a 1-year low of $13.63 and a 1-year high of $17.47.
New Residential Investment (NYSE:NRZ) last posted its quarterly earnings data on Friday, October 25th. The real estate investment trust reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.01). The company had revenue of $202.23 million during the quarter, compared to analyst estimates 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 company earned $0.63 earnings per share. On average, equities research analysts expect that New Residential Investment will post 2.07 EPS for the current year.
In other news, Director Robert Mcginnis acquired 4,500 shares of New Residential Investment stock in a transaction dated Wednesday, October 30th. The stock was bought at an average price 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 in the company, valued at approximately $963,352.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.47% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. First Allied Advisory Services Inc. increased its stake in shares of New Residential Investment by 24.9% in the third quarter. First Allied Advisory Services Inc. now owns 42,708 shares of the real estate investment trust’s stock worth $670,000 after purchasing an additional 8,508 shares in the last quarter. Checchi Capital Advisers LLC boosted its position in New Residential Investment by 4.4% during the 3rd quarter. Checchi Capital Advisers LLC now owns 77,694 shares of the real estate investment trust’s stock worth $1,218,000 after acquiring an additional 3,295 shares during the period. D.A. Davidson & CO. boosted its position in New Residential Investment by 15.6% during the 3rd quarter. D.A. Davidson & CO. now owns 27,839 shares of the real estate investment trust’s stock worth $437,000 after acquiring an additional 3,750 shares during the period. Catalyst Capital Advisors LLC boosted its position in New Residential Investment by 63.4% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 11,910 shares of the real estate investment trust’s stock worth $186,000 after acquiring an additional 4,620 shares during the period. Finally, Putnam FL Investment Management Co. boosted its position in New Residential Investment by 1,128.2% during the 3rd quarter. Putnam FL Investment Management Co. now owns 16,630 shares of the real estate investment trust’s stock worth $261,000 after acquiring an additional 15,276 shares during the period. 52.34% of the stock is currently owned by institutional investors.
NRZ has been the subject of several recent research reports. Wedbush reiterated an “outperform” rating on shares of New Residential Investment in a research note on Monday, August 19th. B. Riley set a $18.50 price target on New Residential Investment and gave the company a “buy” rating in a research note on Friday, October 25th. BTIG Research initiated coverage on New Residential Investment in a research note on Friday, September 6th. They issued a “buy” rating and a $18.00 price target for the company. ValuEngine upgraded New Residential Investment from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research upgraded New Residential Investment from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $18.00.
New Residential Investment Company Profile
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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