Global Wealth Management Investment Advisory Inc. lowered its stake in shares of New Residential Investment Corp (NYSE:NRZ) by 41.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,573 shares of the real estate investment trust’s stock after selling 4,665 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in New Residential Investment were worth $111,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the company. Cedar Wealth Management LLC raised its stake in shares of New Residential Investment by 50.0% during the 1st quarter. Cedar Wealth Management LLC now owns 1,800 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 600 shares in the last quarter. Winfield Associates Inc. raised its stake in shares of New Residential Investment by 0.4% during the 1st quarter. Winfield Associates Inc. now owns 157,077 shares of the real estate investment trust’s stock worth $2,656,000 after purchasing an additional 610 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of New Residential Investment by 2.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,768 shares of the real estate investment trust’s stock worth $385,000 after purchasing an additional 651 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in shares of New Residential Investment by 8.2% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,919 shares of the real estate investment trust’s stock worth $127,000 after purchasing an additional 674 shares in the last quarter. Finally, AE Wealth Management LLC raised its stake in shares of New Residential Investment by 2.5% during the 4th quarter. AE Wealth Management LLC now owns 29,115 shares of the real estate investment trust’s stock worth $414,000 after purchasing an additional 708 shares in the last quarter. Institutional investors own 53.44% of the company’s stock.

NRZ stock opened at $15.25 on Monday. The company has a market cap of $6.34 billion, a P/E ratio of 6.41 and a beta of 1.12. New Residential Investment Corp has a 1-year low of $13.86 and a 1-year high of $18.75.

New Residential Investment (NYSE:NRZ) last posted its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.53 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.53. The business had revenue of $423.08 million for the quarter, compared to analyst estimates of $403.45 million. New Residential Investment had a return on equity of 13.39% and a net margin of 29.22%. The firm’s revenue was up 62.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.58 EPS. Analysts anticipate that New Residential Investment Corp will post 2.19 earnings per share for the current fiscal year.

In other New Residential Investment news, Director Andrew Sloves bought 1,800 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were acquired at an average cost of $16.65 per share, with a total value of $29,970.00. Following the acquisition, the director now owns 29,481 shares of the company’s stock, valued at $490,858.65. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Saltzman bought 14,174 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average cost of $16.66 per share, for a total transaction of $236,138.84. Following the completion of the acquisition, the director now directly owns 38,887 shares in the company, valued at approximately $647,857.42. The disclosure for this purchase can be found here. 0.47% of the stock is currently owned by insiders.

A number of research analysts recently weighed in on NRZ shares. Zacks Investment Research raised New Residential Investment from a “sell” rating to a “hold” rating in a report on Thursday, March 28th. Nomura started coverage on New Residential Investment in a report on Wednesday, March 27th. They set a “buy” rating and a $18.50 target price on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $19.30.

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About New Residential Investment

New Residential Investment Corp., a real estate investment trust, focuses on investing in and managing residential mortgage related assets in the United States. It operates through Servicing and Originations, Residential Securities and Loans, and Consumer Loans segments. The company invests in excess mortgage servicing rights (MSRs) on residential mortgage loans; and in servicer advances, including the basic fee component of the related MSRs.

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

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