American Century Companies Inc. cut its position in New Residential Investment Corp. (NYSE:NRZ) by 91.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,291 shares of the real estate investment trust’s stock after selling 257,424 shares during the quarter. American Century Companies Inc.’s holdings in New Residential Investment Corp. were worth $378,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of New Residential Investment Corp. by 39,965.7% in the first quarter. BlackRock Inc. now owns 26,571,141 shares of the real estate investment trust’s stock valued at $451,177,000 after purchasing an additional 26,504,822 shares during the period. Vanguard Group Inc. boosted its stake in shares of New Residential Investment Corp. by 28.9% in the first quarter. Vanguard Group Inc. now owns 24,818,674 shares of the real estate investment trust’s stock valued at $421,421,000 after purchasing an additional 5,571,198 shares during the period. State Street Corp boosted its stake in shares of New Residential Investment Corp. by 25.3% in the first quarter. State Street Corp now owns 5,913,353 shares of the real estate investment trust’s stock valued at $100,410,000 after purchasing an additional 1,192,731 shares during the period. Bank of America Corp DE boosted its stake in shares of New Residential Investment Corp. by 9.3% in the first quarter. Bank of America Corp DE now owns 5,291,446 shares of the real estate investment trust’s stock valued at $89,849,000 after purchasing an additional 451,323 shares during the period. Finally, Wellington Management Group LLP purchased a new position in shares of New Residential Investment Corp. in the first quarter valued at $59,515,000. Institutional investors and hedge funds own 47.79% of the company’s stock.

New Residential Investment Corp. (NYSE:NRZ) opened at 16.79 on Wednesday. New Residential Investment Corp. has a 1-year low of $13.30 and a 1-year high of $17.86. The firm’s 50-day moving average is $16.61 and its 200-day moving average is $16.49. The company has a market capitalization of $5.16 billion, a P/E ratio of 5.96 and a beta of 1.02.

New Residential Investment Corp. (NYSE:NRZ) last announced its quarterly earnings data on Monday, July 31st. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.48. The business had revenue of $356.80 million for the quarter, compared to the consensus estimate of $202.40 million. New Residential Investment Corp. had a net margin of 55.85% and a return on equity of 19.02%. During the same quarter last year, the company posted $0.52 earnings per share. Equities research analysts predict that New Residential Investment Corp. will post $2.56 EPS for the current year.

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Several research analysts have recently weighed in on the stock. Piper Jaffray Companies restated a “buy” rating and issued a $18.00 target price on shares of New Residential Investment Corp. in a research note on Sunday, August 27th. BidaskClub upgraded shares of New Residential Investment Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. ValuEngine downgraded shares of New Residential Investment Corp. from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 15th. Vetr downgraded shares of New Residential Investment Corp. from a “buy” rating to a “hold” rating and set a $16.55 price objective on the stock. in a research note on Thursday, July 20th. Finally, Zacks Investment Research upgraded shares of New Residential Investment Corp. from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research note on Tuesday, July 4th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. New Residential Investment Corp. presently has a consensus rating of “Buy” and an average target price of $16.89.

New Residential Investment Corp. 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.

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

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