Northern Trust Corp Cuts Position in New Residential Investment Corp. (NRZ)

Northern Trust Corp trimmed its position in New Residential Investment Corp. (NYSE:NRZ) by 52.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,466,312 shares of the real estate investment trust’s stock after selling 2,764,177 shares during the period. Northern Trust Corp owned 0.80% of New Residential Investment Corp. worth $38,376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. GSA Capital Partners LLP increased its position in shares of New Residential Investment Corp. by 81.5% in the 2nd quarter. GSA Capital Partners LLP now owns 35,041 shares of the real estate investment trust’s stock valued at $545,000 after acquiring an additional 15,730 shares during the period. Van ECK Associates Corp increased its position in shares of New Residential Investment Corp. by 29.2% in the 2nd quarter. Van ECK Associates Corp now owns 560,015 shares of the real estate investment trust’s stock valued at $8,714,000 after acquiring an additional 126,660 shares during the period. UBS Asset Management Americas Inc. increased its position in shares of New Residential Investment Corp. by 10.2% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 219,937 shares of the real estate investment trust’s stock valued at $3,422,000 after acquiring an additional 20,310 shares during the period. Rafferty Asset Management LLC acquired a new position in shares of New Residential Investment Corp. in the 2nd quarter valued at $708,000. Finally, New York State Common Retirement Fund increased its position in shares of New Residential Investment Corp. by 162.4% in the 2nd quarter. New York State Common Retirement Fund now owns 670,500 shares of the real estate investment trust’s stock valued at $10,433,000 after acquiring an additional 414,999 shares during the period. 48.12% of the stock is currently owned by hedge funds and other institutional investors.

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Several equities analysts recently issued reports on the company. Piper Jaffray Companies reissued a “buy” rating and issued a $18.00 target price on shares of New Residential Investment Corp. in a research report on Sunday, August 27th. BidaskClub raised New Residential Investment Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. FBR & Co reissued a “buy” rating and issued a $17.50 target price on shares of New Residential Investment Corp. in a research report on Monday. ValuEngine downgraded New Residential Investment Corp. from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 15th. Finally, Vetr downgraded New Residential Investment Corp. from a “buy” rating to a “hold” rating and set a $16.55 target price on the stock. in a research report on Thursday, July 20th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $16.97.

New Residential Investment Corp. (NYSE:NRZ) last posted its quarterly earnings data on Monday, July 31st. The real estate investment trust reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.48. The company had revenue of $356.80 million for the quarter, compared to analyst estimates of $202.40 million. New Residential Investment Corp. had a net margin of 55.85% and a return on equity of 19.02%. During the same period in the previous year, the business posted $0.52 earnings per share.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Monday, October 2nd will be paid a $0.50 dividend. The ex-dividend date is Friday, September 29th. This represents a $2.00 dividend on an annualized basis and a yield of 11.66%. New Residential Investment Corp.’s dividend payout ratio is presently 72.20%.

New Residential Investment Corp. Profile

New Residential Investment Corp. is a real estate investment trust (REIT). The Company focuses on investing in, and managing, investments related to residential real estate. The Company’s segments include investments in excess mortgage servicing rights (Excess MSRs); investments in mortgage servicing rights (MSRs); investments in servicer advances; investments in real estate securities; investments in residential mortgage loans; investments in consumer loans, and corporate.

Institutional Ownership by Quarter for New Residential Investment Corp. (NYSE:NRZ)

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