Trade Report: The ClariVest Asset Management LLC Sells shares of New Residential Investment Corp. (NRZ)

The ClariVest Asset Management LLC Sells shares of New Residential Investment Corp. (NRZ)

ClariVest Asset Management LLC cut its stake in New Residential Investment Corp. (NYSE:NRZ) by 1.6% during the second quarter, Holdings Channel reports. The fund owned 128,045 shares of the real estate investment trust’s stock after selling 2,111 shares during the period. ClariVest Asset Management LLC’s holdings in New Residential Investment Corp. were worth $1,772,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Los Angeles Capital Management & Equity Research Inc. increased its position in New Residential Investment Corp. by 0.6% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 75,072 shares of the real estate investment trust’s stock valued at $873,000 after buying an additional 475 shares during the last quarter. Prudential Financial Inc. increased its position in New Residential Investment Corp. by 22.4% in the first quarter. Prudential Financial Inc. now owns 648,458 shares of the real estate investment trust’s stock valued at $7,542,000 after buying an additional 118,580 shares during the last quarter. BlackRock Inc. increased its position in New Residential Investment Corp. by 61.1% in the first quarter. BlackRock Inc. now owns 21,927 shares of the real estate investment trust’s stock valued at $255,000 after buying an additional 8,315 shares during the last quarter. BlackRock Group LTD increased its position in New Residential Investment Corp. by 38.8% in the first quarter. BlackRock Group LTD now owns 170,984 shares of the real estate investment trust’s stock valued at $1,989,000 after buying an additional 47,760 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in New Residential Investment Corp. by 2.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 6,048,004 shares of the real estate investment trust’s stock valued at $70,338,000 after buying an additional 128,227 shares during the last quarter. Institutional investors and hedge funds own 53.36% of the company’s stock.

Shares of New Residential Investment Corp. (NYSE:NRZ) traded up 0.913% during mid-day trading on Wednesday, reaching $13.815. The company had a trading volume of 1,077,907 shares. The company has a market capitalization of $3.18 billion, a PE ratio of 9.443 and a beta of 0.94. The stock’s 50-day moving average price is $14.16 and its 200 day moving average price is $13.36. New Residential Investment Corp. has a 1-year low of $9.07 and a 1-year high of $14.89.

New Residential Investment Corp. (NYSE:NRZ) last announced its quarterly earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.02. The company earned $137.43 million during the quarter, compared to analysts’ expectations of $161 million. New Residential Investment Corp. had a return on equity of 15.25% and a net margin of 38.31%. New Residential Investment Corp.’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the business earned $0.45 earnings per share. Equities analysts expect that New Residential Investment Corp. will post $1.72 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Monday, October 3rd will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 13.44%. The ex-dividend date is Thursday, September 29th. New Residential Investment Corp.’s dividend payout ratio (DPR) is presently 125.17%.

NRZ has been the subject of several recent analyst reports. Zacks Investment Research downgraded New Residential Investment Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, July 27th. Credit Suisse Group AG set a $17.00 price target on New Residential Investment Corp. and gave the stock a “buy” rating in a research note on Monday, August 8th. Barclays PLC upped their price target on New Residential Investment Corp. from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 10th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $16.00 target price on shares of New Residential Investment Corp. in a research report on Friday, September 9th. Finally, Wedbush initiated coverage on New Residential Investment Corp. in a research report on Wednesday, October 5th. They set an “outperform” rating and a $17.00 target price for the company. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. New Residential Investment Corp. currently has a consensus rating of “Buy” and an average target price of $15.54.

About New Residential Investment Corp.

New Residential Investment Corp. is a real estate investment trust (REIT). The Company is focused on investing in, and managing, investments related to residential real estate. The Company conducts its business through the segments, which include investments in excess mortgage servicing rights (MSRs), investments in servicer advances, investments in real estate securities, investments in real estate loans, investments in consumer loans and corporate.

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