New Residential Investment Corp (NRZ) Position Lessened by Stockman Wealth Management Inc.

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Stockman Wealth Management Inc. reduced its position in shares of New Residential Investment Corp (NYSE:NRZ) by 0.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 129,600 shares of the real estate investment trust’s stock after selling 750 shares during the quarter. Stockman Wealth Management Inc.’s holdings in New Residential Investment were worth $2,192,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NRZ. Prime Capital Investment Advisors LLC bought a new stake in New Residential Investment in the 4th quarter valued at $26,000. Trust Co. of Vermont purchased a new stake in New Residential Investment during the 1st quarter worth $27,000. Private Capital Group LLC purchased a new stake in New Residential Investment during the 1st quarter worth $28,000. Cedar Wealth Management LLC lifted its holdings in New Residential Investment by 50.0% in the 1st quarter. Cedar Wealth Management LLC now owns 1,800 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 600 shares in the last quarter. Finally, First Manhattan Co. lifted its holdings in New Residential Investment by 120.0% in the 1st quarter. First Manhattan Co. now owns 2,200 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 1,200 shares in the last quarter. 49.25% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have commented on NRZ shares. Zacks Investment Research lowered shares of New Residential Investment from a “hold” rating to a “sell” rating in a report on Saturday, March 16th. Nomura initiated coverage on shares of New Residential Investment in a research note on Wednesday, March 27th. They issued a “buy” rating and a $18.50 target price on the stock. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $19.30.

In other New Residential Investment news, Director David Saltzman acquired 14,174 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were purchased at an average price of $16.66 per share, for a total transaction of $236,138.84. Following the completion of the purchase, the director now directly owns 38,887 shares in the company, valued at $647,857.42. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Nierenberg acquired 60,000 shares of the company’s stock in a transaction that occurred on Friday, February 22nd. The shares were acquired at an average price of $16.50 per share, for a total transaction of $990,000.00. Following the purchase, the chief executive officer now owns 995,352 shares of the company’s stock, valued at $16,423,308. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 75,974 shares of company stock worth $1,256,109. Company insiders own 0.47% of the company’s stock.

Shares of New Residential Investment stock traded down $0.08 during trading on Friday, reaching $16.68. The company had a trading volume of 818,913 shares, compared to its average volume of 2,745,220. The firm has a market cap of $6.93 billion, a PE ratio of 7.01 and a beta of 1.09. New Residential Investment Corp has a fifty-two week low of $13.86 and a fifty-two week high of $18.75.

New Residential Investment (NYSE:NRZ) last issued its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.53. The business had revenue of $423.08 million for the quarter, compared to analyst estimates of $403.45 million. New Residential Investment had a net margin of 29.22% and a return on equity of 13.39%. The company’s revenue for the quarter was up 62.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.58 EPS. Equities analysts expect that New Residential Investment Corp will post 2.19 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Thursday, April 4th were paid a $0.50 dividend. The ex-dividend date was Wednesday, April 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 11.99%. New Residential Investment’s dividend payout ratio (DPR) is presently 84.03%.

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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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Want to see what other hedge funds are holding NRZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for New Residential Investment Corp (NYSE:NRZ).

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

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