CIBC Asset Management Inc bought a new stake in New Residential Investment Corp. (NYSE:NRZ) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,569 shares of the real estate investment trust’s stock, valued at approximately $177,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NRZ. Global X MANAGEMENT CO LLC lifted its holdings in New Residential Investment Corp. by 7.5% in the third quarter. Global X MANAGEMENT CO LLC now owns 677,569 shares of the real estate investment trust’s stock valued at $11,336,000 after acquiring an additional 47,547 shares during the period. Telemus Capital LLC lifted its holdings in New Residential Investment Corp. by 21.2% in the third quarter. Telemus Capital LLC now owns 350,970 shares of the real estate investment trust’s stock valued at $5,872,000 after acquiring an additional 61,345 shares during the period. Principal Financial Group Inc. lifted its holdings in New Residential Investment Corp. by 96.7% in the third quarter. Principal Financial Group Inc. now owns 1,053,855 shares of the real estate investment trust’s stock valued at $17,631,000 after acquiring an additional 518,089 shares during the period. Joel Isaacson & Co. LLC lifted its holdings in New Residential Investment Corp. by 139.8% in the third quarter. Joel Isaacson & Co. LLC now owns 68,603 shares of the real estate investment trust’s stock valued at $1,148,000 after acquiring an additional 40,000 shares during the period. Finally, Stevens Capital Management LP acquired a new position in New Residential Investment Corp. in the third quarter valued at approximately $3,263,000. Hedge funds and other institutional investors own 48.98% of the company’s stock.

New Residential Investment Corp. (NYSE:NRZ) opened at $17.82 on Wednesday. New Residential Investment Corp. has a 52 week low of $15.03 and a 52 week high of $17.91. The company has a market capitalization of $5,418.78, a price-to-earnings ratio of 6.23, a P/E/G ratio of 6.61 and a beta of 1.04.

New Residential Investment Corp. (NYSE:NRZ) last posted its quarterly earnings data on Friday, October 27th. The real estate investment trust reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.08. New Residential Investment Corp. had a return on equity of 19.38% and a net margin of 60.06%. The firm had revenue of $331.38 million during the quarter, compared to the consensus estimate of $291.66 million. During the same period in the prior year, the company earned $0.51 EPS. The firm’s revenue was up 72.1% compared to the same quarter last year. research analysts anticipate that New Residential Investment Corp. will post 2.67 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Monday, October 2nd were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 11.22%. The ex-dividend date was Friday, September 29th. New Residential Investment Corp.’s dividend payout ratio is currently 64.72%.

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A number of research analysts have issued reports on NRZ shares. BidaskClub raised New Residential Investment Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. ValuEngine raised New Residential Investment Corp. from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 1st. Vetr downgraded New Residential Investment Corp. from a “hold” rating to a “sell” rating and set a $16.55 target price for the company. in a research note on Wednesday, August 2nd. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $18.00 target price on shares of New Residential Investment Corp. in a research note on Thursday, August 3rd. Finally, Zacks Investment Research raised New Residential Investment Corp. from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $17.93.

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.

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

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