Park Avenue Securities LLC Boosts Stock Holdings in New Residential Investment Corp. (NYSE:NRZ)

Park Avenue Securities LLC boosted its position in shares of New Residential Investment Corp. (NYSE:NRZGet Rating) by 7.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,427 shares of the real estate investment trust’s stock after buying an additional 1,503 shares during the period. Park Avenue Securities LLC’s holdings in New Residential Investment were worth $224,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. M&R Capital Management Inc. increased its stake in New Residential Investment by 2.6% during the 1st quarter. M&R Capital Management Inc. now owns 39,120 shares of the real estate investment trust’s stock worth $429,000 after buying an additional 1,000 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in shares of New Residential Investment by 2.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 38,327 shares of the real estate investment trust’s stock valued at $410,000 after purchasing an additional 1,010 shares in the last quarter. Catalyst Capital Advisors LLC grew its position in shares of New Residential Investment by 6.8% in the fourth quarter. Catalyst Capital Advisors LLC now owns 16,100 shares of the real estate investment trust’s stock valued at $172,000 after purchasing an additional 1,020 shares in the last quarter. Belpointe Asset Management LLC grew its position in shares of New Residential Investment by 2.7% in the first quarter. Belpointe Asset Management LLC now owns 43,334 shares of the real estate investment trust’s stock valued at $476,000 after purchasing an additional 1,157 shares in the last quarter. Finally, AllSquare Wealth Management LLC grew its position in shares of New Residential Investment by 15.2% in the fourth quarter. AllSquare Wealth Management LLC now owns 9,500 shares of the real estate investment trust’s stock valued at $102,000 after purchasing an additional 1,250 shares in the last quarter. 46.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NRZ. Piper Sandler lowered New Residential Investment from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $12.00 to $10.00 in a research report on Monday, June 13th. StockNews.com upgraded New Residential Investment from a “hold” rating to a “buy” rating in a research report on Monday, May 9th. Finally, Credit Suisse Group dropped their price target on New Residential Investment to $12.00 in a research report on Friday, July 22nd. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, New Residential Investment currently has an average rating of “Moderate Buy” and an average target price of $12.00.

New Residential Investment Stock Up 3.6 %

NYSE:NRZ opened at $10.62 on Thursday. The stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of 4.70 and a beta of 1.67. 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 Corp. has a 52 week low of $8.18 and a 52 week high of $11.81. The stock’s fifty day moving average is $10.09 and its two-hundred day moving average is $10.44.

New Residential Investment (NYSE:NRZGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. New Residential Investment had a return on equity of 13.84% and a net margin of 28.82%. During the same period in the previous year, the company earned $0.34 EPS. Research analysts anticipate that New Residential Investment Corp. will post 1.21 EPS for the current year.

New Residential Investment Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Friday, July 1st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 9.42%. The ex-dividend date of this dividend is Thursday, June 30th. New Residential Investment’s dividend payout ratio (DPR) is presently 44.25%.

New Residential Investment 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.

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

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