The Emerald Acquisition Ltd. Acquires 58,456 Shares of New Residential Investment Corp. (NRZ)

The Emerald Acquisition Ltd. Acquires 58,456  Shares of New Residential Investment Corp. (NRZ)

Emerald Acquisition Ltd. bought a new stake in shares of New Residential Investment Corp. (NYSE:NRZ) during the second quarter, Holdings Channel reports. The fund bought 58,456 shares of the real estate investment trust’s stock, valued at approximately $809,000.

A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Institutional Trust Company N.A. boosted 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 worth $70,338,000 after buying an additional 128,227 shares during the last quarter. Kingstown Capital Management L.P. boosted its position in shares of New Residential Investment Corp. by 11.1% in the first quarter. Kingstown Capital Management L.P. now owns 5,000,000 shares of the real estate investment trust’s stock worth $58,150,000 after buying an additional 500,000 shares in the last quarter. State Street Corp boosted its position in shares of New Residential Investment Corp. by 1.3% in the first quarter. State Street Corp now owns 4,615,848 shares of the real estate investment trust’s stock worth $53,686,000 after buying an additional 58,600 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of New Residential Investment Corp. by 105.5% in the first quarter. Goldman Sachs Group Inc. now owns 2,152,711 shares of the real estate investment trust’s stock worth $25,036,000 after buying an additional 1,105,284 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of New Residential Investment Corp. by 3.0% in the first quarter. Geode Capital Management LLC now owns 1,982,382 shares of the real estate investment trust’s stock worth $23,054,000 after buying an additional 56,931 shares in the last quarter. Institutional investors and hedge funds own 53.36% of the company’s stock.

New Residential Investment Corp. (NYSE:NRZ) traded up 0.181% during midday trading on Thursday, reaching $13.825. The company had a trading volume of 640,166 shares. The stock has a market capitalization of $3.19 billion, a PE ratio of 9.450 and a beta of 0.94. New Residential Investment Corp. has a 12-month low of $9.07 and a 12-month high of $14.89. The company has a 50-day moving average of $14.15 and a 200-day moving average of $13.36.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Monday, October 3rd will be paid a dividend of $0.46 per share. The ex-dividend date is Thursday, September 29th. This represents a $1.84 annualized dividend and a dividend yield of 13.33%. New Residential Investment Corp.’s dividend payout ratio (DPR) is presently 125.17%.

A number of brokerages recently issued reports on NRZ. Zacks Investment Research upgraded New Residential Investment Corp. from a “sell” rating to a “hold” rating in a report on Thursday, August 11th. Credit Suisse Group AG set a $17.00 target price on New Residential Investment Corp. and gave the stock a “buy” rating in a report on Monday, August 8th. Barclays PLC increased their target price on New Residential Investment Corp. from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Wednesday, August 10th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $16.00 target price on shares of New Residential Investment Corp. in a report on Friday, September 9th. Finally, Wedbush began coverage on New Residential Investment Corp. in a report on Wednesday, October 5th. They issued an “outperform” rating and a $17.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. New Residential Investment Corp. presently 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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