World Asset Management Inc Has $115,000 Stock Holdings in New Residential Investment Corp (NYSE:NRZ)

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World Asset Management Inc grew its position in New Residential Investment Corp (NYSE:NRZ) by 17.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,481 shares of the real estate investment trust’s stock after purchasing an additional 2,302 shares during the quarter. World Asset Management Inc’s holdings in New Residential Investment were worth $115,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in NRZ. Norges Bank bought a new position in shares of New Residential Investment in the fourth quarter valued at approximately $63,713,000. Wolverine Asset Management LLC raised its position in shares of New Residential Investment by 105.5% in the first quarter. Wolverine Asset Management LLC now owns 3,891,340 shares of the real estate investment trust’s stock valued at $19,495,000 after purchasing an additional 1,997,995 shares during the period. First Trust Advisors LP raised its position in shares of New Residential Investment by 918.1% in the second quarter. First Trust Advisors LP now owns 1,471,644 shares of the real estate investment trust’s stock valued at $10,934,000 after purchasing an additional 1,327,092 shares during the period. Morgan Stanley raised its position in shares of New Residential Investment by 60.7% in the first quarter. Morgan Stanley now owns 3,354,306 shares of the real estate investment trust’s stock valued at $16,806,000 after purchasing an additional 1,267,518 shares during the period. Finally, American Assets Capital Advisers LLC raised its position in shares of New Residential Investment by 3,051.5% in the first quarter. American Assets Capital Advisers LLC now owns 1,161,558 shares of the real estate investment trust’s stock valued at $5,819,000 after purchasing an additional 1,124,701 shares during the period. 43.87% of the stock is currently owned by institutional investors.

In other news, Director Andrew Sloves bought 3,600 shares of New Residential Investment stock in a transaction dated Friday, May 29th. The shares were bought at an average price of $7.42 per share, for a total transaction of $26,712.00. Following the purchase, the director now owns 62,743 shares of the company’s stock, valued at $465,553.06. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alan L. Tyson bought 10,000 shares of New Residential Investment stock in a transaction dated Monday, July 27th. The stock was purchased at an average price of $7.72 per share, for a total transaction of $77,200.00. Following the purchase, the director now directly owns 149,158 shares in the company, valued at approximately $1,151,499.76. The disclosure for this purchase can be found here. Insiders own 0.47% of the company’s stock.

Shares of New Residential Investment stock opened at $7.93 on Friday. The firm has a market capitalization of $3.30 billion, a PE ratio of 4.18 and a beta of 1.82. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.41 and a quick ratio of 0.52. The company’s fifty day moving average price is $7.40 and its two-hundred day moving average price is $9.82. New Residential Investment Corp has a 52-week low of $2.91 and a 52-week high of $17.66.

New Residential Investment (NYSE:NRZ) last announced its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.04. The firm had revenue of $115.80 million for the quarter, compared to analyst estimates of $87.87 million. New Residential Investment had a negative net margin of 74.42% and a positive return on equity of 14.32%. Analysts predict that New Residential Investment Corp will post 1.24 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Thursday, July 2nd were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 5.04%. The ex-dividend date was Wednesday, July 1st. This is a positive change from New Residential Investment’s previous quarterly dividend of $0.05. New Residential Investment’s payout ratio is 18.43%.

A number of equities analysts have recently commented on the stock. ValuEngine raised shares of New Residential Investment from a “strong sell” rating to a “sell” rating in a research report on Friday, May 1st. B. Riley reissued a “buy” rating and issued a $9.00 price target on shares of New Residential Investment in a research report on Tuesday, June 23rd. Argus raised shares of New Residential Investment from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Monday, July 27th. Piper Sandler raised shares of New Residential Investment from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $8.50 to $9.50 in a research report on Thursday, July 16th. Finally, Zacks Investment Research raised shares of New Residential Investment from a “hold” rating to a “buy” rating and set a $9.00 target price on the stock in a research report on Saturday. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $12.25.

About New Residential Investment

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

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