Great West Life Assurance Co. Can boosted its stake in New Residential Investment Corp (NYSE:NRZ) by 46.4% in the first quarter, HoldingsChannel.com reports. The firm owned 58,205 shares of the real estate investment trust’s stock after buying an additional 18,460 shares during the period. Great West Life Assurance Co. Can’s holdings in New Residential Investment were worth $981,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of NRZ. Squarepoint Ops LLC bought a new position in shares of New Residential Investment in the fourth quarter valued at $677,000. Utah Retirement Systems lifted its stake in shares of New Residential Investment by 7.5% in the fourth quarter. Utah Retirement Systems now owns 67,446 shares of the real estate investment trust’s stock valued at $959,000 after buying an additional 4,700 shares in the last quarter. Stratos Wealth Partners LTD. lifted its stake in shares of New Residential Investment by 8.9% in the fourth quarter. Stratos Wealth Partners LTD. now owns 20,390 shares of the real estate investment trust’s stock valued at $290,000 after buying an additional 1,667 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of New Residential Investment by 9.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 906,086 shares of the real estate investment trust’s stock valued at $12,875,000 after buying an additional 77,040 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC bought a new position in shares of New Residential Investment in the fourth quarter valued at $26,000. Institutional investors and hedge funds own 53.44% of the company’s stock.
In related news, Director Andrew Sloves acquired 1,800 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was acquired at an average price of $16.65 per share, for a total transaction of $29,970.00. Following the completion of the acquisition, the director now owns 29,481 shares of the company’s stock, valued at approximately $490,858.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David Saltzman acquired 14,174 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average price of $16.66 per share, with a total value of $236,138.84. Following the acquisition, the director now directly owns 38,887 shares of the company’s stock, valued at approximately $647,857.42. The disclosure for this purchase can be found here. 0.47% of the stock is owned by company insiders.
New Residential Investment (NYSE:NRZ) last released its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.53 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.53. New Residential Investment had a net margin of 29.22% and a return on equity of 13.39%. The company had revenue of $423.08 million for the quarter, compared to analyst estimates of $403.45 million. During the same period last year, the firm earned $0.58 earnings per share. The firm’s revenue was up 62.9% on a year-over-year basis. On average, research analysts predict that New Residential Investment Corp will post 2.19 EPS for the current fiscal year.
A number of research firms have weighed in on NRZ. Zacks Investment Research raised shares of New Residential Investment from a “sell” rating to a “hold” rating in a research note on Thursday, April 25th. Nomura began coverage on shares of New Residential Investment in a research report on Wednesday, March 27th. They set a “buy” rating and a $18.50 price target on the stock. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $19.30.
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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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