Kestra Advisory Services LLC Buys 4,184 Shares of New Residential Investment Corp. (NYSE:NRZ)

Kestra Advisory Services LLC grew its stake in New Residential Investment Corp. (NYSE:NRZGet Rating) by 7.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,283 shares of the real estate investment trust’s stock after acquiring an additional 4,184 shares during the quarter. Kestra Advisory Services LLC’s holdings in New Residential Investment were worth $706,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NRZ. Kestra Private Wealth Services LLC bought a new stake in New Residential Investment during the 4th quarter worth approximately $132,000. Huntington National Bank bought a new stake in New Residential Investment during the 4th quarter worth approximately $32,000. Rothschild Investment Corp IL increased its stake in New Residential Investment by 67.1% during the 4th quarter. Rothschild Investment Corp IL now owns 50,114 shares of the real estate investment trust’s stock worth $537,000 after purchasing an additional 20,118 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV increased its stake in New Residential Investment by 22.1% during the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 13,800 shares of the real estate investment trust’s stock worth $148,000 after purchasing an additional 2,500 shares in the last quarter. Finally, National Bank of Canada FI bought a new stake in New Residential Investment during the 4th quarter worth approximately $42,000. 46.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on NRZ. Raymond James increased their target price on New Residential Investment from $13.00 to $13.50 and gave the stock an “outperform” rating in a research note on Tuesday, March 29th. StockNews.com raised New Residential Investment from a “hold” rating to a “buy” rating in a research note on Monday, May 9th. Finally, Piper Sandler cut shares of New Residential Investment from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $12.00 to $10.00 in a research note on Monday, June 13th. One analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.20.

New Residential Investment Price Performance

Shares of NRZ opened at $10.04 on Wednesday. The stock has a market capitalization of $4.69 billion, a P/E ratio of 4.44 and a beta of 1.67. New Residential Investment Corp. has a twelve month low of $8.18 and a twelve month high of $11.81. The company has a 50 day moving average of $10.16 and a 200-day moving average of $10.46. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.09.

New Residential Investment (NYSE:NRZGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The real estate investment trust reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. New Residential Investment had a net margin of 28.82% and a return on equity of 13.84%. During the same quarter in the previous year, the company posted $0.34 earnings per share. As a group, equities research analysts forecast that New Residential Investment Corp. will post 1.21 EPS for the current fiscal year.

New Residential Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Friday, July 1st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.96%. The ex-dividend date of this dividend is Thursday, June 30th. New Residential Investment’s payout ratio is presently 44.25%.

New Residential Investment Company Profile

(Get Rating)

New Residential Investment Corp. operates as a real estate investment trust in the United States. It operates through Origination, Servicing, MSR Related Investments, Residential Securities, Properties and Loans, Consumer Loans, Mortgage Loans, and Corporate segments. The company invests in mortgage servicing rights, mortgage origination and servicing companies, residential mortgage-backed securities, properties and loans, consumer loans, and other opportunistic investments.

Further Reading

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

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