Karp Capital Management Corp acquired a new position in shares of New Residential Investment Corp. (NYSE:NRZ) during the first quarter, Holdings Channel reports. The fund acquired 42,701 shares of the real estate investment trust’s stock, valued at approximately $725,000.

A number of other hedge funds have also recently added to or reduced their stakes in NRZ. Park National Corp OH boosted its stake in New Residential Investment Corp. by 50.0% in the first quarter. Park National Corp OH now owns 15,000 shares of the real estate investment trust’s stock worth $255,000 after buying an additional 5,000 shares during the last quarter. Teachers Advisors LLC boosted its stake in New Residential Investment Corp. by 326.1% in the fourth quarter. Teachers Advisors LLC now owns 1,667,831 shares of the real estate investment trust’s stock worth $26,218,000 after buying an additional 1,276,387 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in New Residential Investment Corp. during the fourth quarter worth about $416,000. Norges Bank purchased a new stake in New Residential Investment Corp. during the fourth quarter worth about $36,977,000. Finally, AE Wealth Management LLC purchased a new stake in New Residential Investment Corp. during the fourth quarter worth about $230,000. 54.73% of the stock is owned by hedge funds and other institutional investors.

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

New Residential Investment Corp. (NYSE:NRZ) opened at 16.73 on Friday. New Residential Investment Corp. has a 12-month low of $12.58 and a 12-month high of $17.86. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of 8.21 and a beta of 1.00. The firm’s 50-day moving average price is $16.37 and its 200 day moving average price is $16.38.

New Residential Investment Corp. (NYSE:NRZ) last posted its quarterly earnings data on Monday, May 1st. The real estate investment trust reported $0.54 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.01. New Residential Investment Corp. had a net margin of 43.60% and a return on equity of 15.48%. The company had revenue of $170.60 million during the quarter, compared to the consensus estimate of $239.83 million. During the same period in the prior year, the business posted $0.49 EPS. The company’s quarterly revenue was down 21.4% on a year-over-year basis. On average, equities research analysts expect that New Residential Investment Corp. will post $2.12 EPS for the current fiscal year.

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A number of research firms recently issued reports on NRZ. Vetr cut New Residential Investment Corp. from a “buy” rating to a “hold” rating and set a $17.92 price objective for the company. in a research report on Tuesday, April 11th. Zacks Investment Research raised New Residential Investment Corp. from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Wednesday, April 5th. FBR & Co reissued an “outperform” rating and set a $17.50 price objective on shares of New Residential Investment Corp. in a research report on Tuesday, May 2nd. BidaskClub upgraded New Residential Investment Corp. from a “hold” rating to a “buy” rating in a report on Friday. Finally, Keefe, Bruyette & Woods set a $17.00 target price on New Residential Investment Corp. and gave the company a “buy” rating in a report on Tuesday, June 6th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $16.90.

New Residential Investment Corp. Company Profile

New Residential Investment Corp. is a real estate investment trust (REIT). The Company focuses on investing in, and managing, investments related to residential real estate. The Company’s segments include investments in excess mortgage servicing rights (Excess MSRs); investments in mortgage servicing rights (MSRs); investments in servicer advances; investments in real estate securities; investments in residential mortgage loans; investments in consumer loans, and corporate.

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