Ladenburg Thalmann Financial Services Inc. cut its position in shares of New Residential Investment Corp (NYSE:NRZ) by 52.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 44,650 shares of the real estate investment trust’s stock after selling 49,814 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in New Residential Investment were worth $686,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Phocas Financial Corp. acquired a new position in New Residential Investment during the second quarter worth $2,084,000. Personal Wealth Partners acquired a new position in New Residential Investment during the second quarter worth $29,000. Liberty Wealth Management LLC raised its holdings in New Residential Investment by 60.8% during the second quarter. Liberty Wealth Management LLC now owns 2,531 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 957 shares during the last quarter. Nordea Investment Management AB raised its holdings in New Residential Investment by 476.5% during the first quarter. Nordea Investment Management AB now owns 3,361 shares of the real estate investment trust’s stock worth $57,000 after purchasing an additional 2,778 shares during the last quarter. Finally, Optimum Investment Advisors raised its holdings in New Residential Investment by 166.0% during the second quarter. Optimum Investment Advisors now owns 3,525 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 2,200 shares during the last quarter. 53.13% of the stock is owned by hedge funds and other institutional investors.
NRZ has been the subject of several research reports. Zacks Investment Research raised New Residential Investment from a “sell” rating to a “hold” rating in a report on Tuesday. BTIG Research began coverage on New Residential Investment in a report on Friday, September 6th. They issued a “buy” rating and a $18.00 price target for the company. ValuEngine raised New Residential Investment from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Piper Jaffray Companies cut their price target 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. Finally, B. Riley set a $19.00 price target on New Residential Investment and gave the stock a “buy” rating in a report on Thursday, August 29th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $18.08.
New Residential Investment (NYSE:NRZ) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.01). New Residential Investment had a return on equity of 13.22% and a net margin of 17.24%. The company had revenue of $188.04 million during the quarter, compared to analyst estimates of $240.28 million. During the same period last year, the firm earned $0.58 earnings per share. As a group, analysts forecast that New Residential Investment Corp will post 2.13 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 3rd will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 12.99%. New Residential Investment’s dividend payout ratio (DPR) is 84.03%.
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.
See Also: Book Value Per Share – BVPS
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).
Receive News & Ratings for New Residential Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Residential Investment and related companies with MarketBeat.com's FREE daily email newsletter.