New York State Common Retirement Fund grew its position in New Residential Investment Corp (NYSE:NRZ) by 9.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 745,200 shares of the real estate investment trust’s stock after purchasing an additional 62,700 shares during the period. New York State Common Retirement Fund’s holdings in New Residential Investment were worth $12,259,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of New Residential Investment in the 1st quarter valued at approximately $106,000. Glassman Wealth Services purchased a new stake in shares of New Residential Investment in the 1st quarter valued at approximately $111,000. American International Group Inc. purchased a new stake in shares of New Residential Investment in the 4th quarter valued at approximately $115,000. Bronfman E.L. Rothschild L.P. purchased a new stake in shares of New Residential Investment in the 1st quarter valued at approximately $158,000. Finally, Lido Advisors LLC purchased a new position in shares of New Residential Investment during the 4th quarter worth approximately $198,000. 53.33% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently weighed in on the stock. ValuEngine cut shares of New Residential Investment from a “buy” rating to a “hold” rating in a research report on Saturday, June 2nd. Vetr cut shares of New Residential Investment from a “strong-buy” rating to a “buy” rating and set a $18.60 price objective for the company. in a research report on Tuesday, March 6th. Finally, Zacks Investment Research raised shares of New Residential Investment from a “sell” rating to a “hold” rating in a research report on Thursday, March 15th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $19.01.
New Residential Investment (NYSE:NRZ) last posted its quarterly earnings data on Friday, April 27th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.03. The firm had revenue of $259.19 million during the quarter, compared to analysts’ expectations of $185.89 million. New Residential Investment had a net margin of 89.43% and a return on equity of 18.15%. During the same quarter last year, the company posted $0.54 EPS. analysts expect that New Residential Investment Corp will post 2.29 earnings per share for the current fiscal year.
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 Related Assets, Residential Securities and Loans, and Other Investments 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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