SG Americas Securities LLC reduced its position in shares of New Residential Investment Corp (NYSE:NRZ) by 8.8% in the third quarter, Holdings Channel reports. The fund owned 423,941 shares of the real estate investment trust’s stock after selling 40,787 shares during the quarter. SG Americas Securities LLC’s holdings in New Residential Investment were worth $6,647,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NRZ. Metropolitan Life Insurance Co NY boosted its position in shares of New Residential Investment by 9.3% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 9,747 shares of the real estate investment trust’s stock valued at $164,000 after acquiring an additional 828 shares during the last quarter. FMR LLC boosted its position in shares of New Residential Investment by 62.2% during the 1st quarter. FMR LLC now owns 779,914 shares of the real estate investment trust’s stock valued at $13,189,000 after acquiring an additional 299,097 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its position in shares of New Residential Investment by 50.8% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 250,386 shares of the real estate investment trust’s stock valued at $4,234,000 after acquiring an additional 84,355 shares during the last quarter. Centaurus Financial Inc. boosted its position in shares of New Residential Investment by 26.4% during the 1st quarter. Centaurus Financial Inc. now owns 13,174 shares of the real estate investment trust’s stock valued at $779,000 after acquiring an additional 2,752 shares during the last quarter. Finally, Denali Advisors LLC bought a new position in shares of New Residential Investment during the 2nd quarter valued at approximately $5,066,000. Hedge funds and other institutional investors own 52.67% of the company’s stock.

A number of research analysts have recently commented on NRZ shares. ValuEngine upgraded New Residential Investment from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Wedbush restated an “outperform” rating on shares of New Residential Investment in a research report on Monday, August 19th. Piper Jaffray Companies dropped their price objective on shares of New Residential Investment from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Friday, October 4th. Zacks Investment Research raised shares of New Residential Investment from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Finally, BTIG Research began coverage on shares of New Residential Investment in a research report on Friday, September 6th. They set a “buy” rating and a $18.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $18.00.

Shares of NRZ traded up $0.08 during midday trading on Friday, hitting $16.21. The stock had a trading volume of 3,010,998 shares, compared to its average volume of 3,720,572. New Residential Investment Corp has a 1 year low of $13.63 and a 1 year high of $17.82. The firm has a market cap of $6.70 billion, a PE ratio of 6.81 and a beta of 1.10. The stock’s 50 day moving average is $15.49 and its 200 day moving average is $15.49.

New Residential Investment (NYSE:NRZ) last announced its earnings results on Friday, October 25th. The real estate investment trust reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.01). The firm had revenue of $202.23 million during the quarter, compared to analysts’ expectations of $227.21 million. New Residential Investment had a net margin of 19.60% and a return on equity of 12.69%. During the same period in the prior year, the company posted $0.63 EPS. As a group, sell-side analysts predict that New Residential Investment Corp will post 2.08 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 3rd were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 12.34%. The ex-dividend date of this dividend was Wednesday, October 2nd. New Residential Investment’s payout ratio is presently 84.03%.

In related news, Director Robert Mcginnis purchased 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was bought at an average price of $15.73 per share, with a total value of $70,785.00. Following the acquisition, the director now owns 61,243 shares in the company, valued at $963,352.39. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.47% of the stock is currently owned by insiders.

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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