Trading Report: The Nationwide Fund Advisors Reduces stake in New Residential Investment Corp. (NRZ)

The Nationwide Fund Advisors Reduces stake in New Residential Investment Corp. (NRZ)

Nationwide Fund Advisors cut its stake in New Residential Investment Corp. (NYSE:NRZ) by 1.1% during the second quarter, Holdings Channel reports. The fund owned 147,901 shares of the real estate investment trust’s stock after selling 1,686 shares during the period. Nationwide Fund Advisors owned about 0.06% of New Residential Investment Corp. worth $2,047,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of 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. raised its stake in shares of 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. raised its stake in shares of 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 raised its stake in shares of 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. raised its stake in shares of 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. 53.36% of the stock is owned by institutional investors.

Shares of New Residential Investment Corp. (NYSE:NRZ) traded down 0.14% during midday trading on Thursday, hitting $13.78. The company had a trading volume of 285,115 shares. New Residential Investment Corp. has a 12 month low of $9.07 and a 12 month high of $14.89. The stock’s 50-day moving average price is $14.15 and its 200-day moving average price is $13.36. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 9.42 and a beta of 0.94.

New Residential Investment Corp. (NYSE:NRZ) last released its quarterly earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, topping 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 company earned $137.43 million during the quarter, compared to analysts’ expectations of $161 million. During the same quarter in the prior year, the business posted $0.45 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities research analysts forecast that New Residential Investment Corp. will post $1.72 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Monday, October 3rd will be issued a $0.46 dividend. 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 125.17%.

A number of research firms have recently issued reports on NRZ. Zacks Investment Research lowered shares of New Residential Investment Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, July 27th. Credit Suisse Group AG set a $17.00 price objective on shares of New Residential Investment Corp. and gave the company a “buy” rating in a report on Monday, August 8th. Barclays PLC upped their price objective on shares of New Residential Investment Corp. from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Wednesday, August 10th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued 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 shares of New Residential Investment Corp. in a research 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 assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus 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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