Eagle Asset Management Inc. lowered its holdings in New Residential Investment Corp (NYSE:NRZ) by 9.7% during the fourth quarter, Holdings Channel reports. The fund owned 967,262 shares of the real estate investment trust’s stock after selling 104,187 shares during the period. Eagle Asset Management Inc.’s holdings in New Residential Investment were worth $17,294,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of NRZ. TCI Wealth Advisors Inc. lifted its holdings in New Residential Investment by 203.0% in the third quarter. TCI Wealth Advisors Inc. now owns 6,060 shares of the real estate investment trust’s stock worth $101,000 after acquiring an additional 4,060 shares during the last quarter. Ffcm LLC lifted its holdings in New Residential Investment by 673.4% in the third quarter. Ffcm LLC now owns 6,976 shares of the real estate investment trust’s stock worth $120,000 after acquiring an additional 6,074 shares during the last quarter. Janus Henderson Group PLC bought a new position in New Residential Investment in the second quarter worth about $168,000. Cadence Capital Management LLC bought a new position in New Residential Investment in the third quarter worth about $170,000. Finally, IFP Advisors Inc lifted its holdings in New Residential Investment by 46.3% in the third quarter. IFP Advisors Inc now owns 10,525 shares of the real estate investment trust’s stock worth $176,000 after acquiring an additional 3,331 shares during the last quarter. 48.79% of the stock is currently owned by hedge funds and other institutional investors.
Shares of New Residential Investment Corp (NRZ) opened at $16.89 on Tuesday. The firm has a market capitalization of $5,610.00, a P/E ratio of 5.41 and a beta of 0.92. New Residential Investment Corp has a twelve month low of $15.04 and a twelve month high of $18.43.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 30th. Stockholders of record on Friday, December 29th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 11.84%. New Residential Investment’s dividend payout ratio (DPR) is presently 64.10%.
A number of brokerages have issued reports on NRZ. FBR & Co reissued a “buy” rating and issued a $19.25 target price on shares of New Residential Investment in a report on Monday, October 30th. B. Riley reaffirmed a “buy” rating and set a $19.25 price target on shares of New Residential Investment in a report on Wednesday, November 29th. Zacks Investment Research cut New Residential Investment from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Barclays lifted their price target on New Residential Investment from $16.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, October 24th. Finally, ValuEngine cut New Residential Investment from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $18.61.
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About New Residential Investment
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.
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