Schwab Charles Investment Management Inc. lessened its holdings in shares of New Residential Investment Corp. (NYSE:NRZ) by 24.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,222,492 shares of the real estate investment trust’s stock after selling 404,520 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.40% of New Residential Investment Corp. worth $19,022,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Los Angeles Capital Management & Equity Research Inc. grew its stake in New Residential Investment Corp. by 634.1% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 276,671 shares of the real estate investment trust’s stock valued at $4,698,000 after purchasing an additional 238,981 shares in the last quarter. JPMorgan Chase & Co. grew its stake in New Residential Investment Corp. by 186.3% during the 1st quarter. JPMorgan Chase & Co. now owns 1,218,930 shares of the real estate investment trust’s stock valued at $20,697,000 after purchasing an additional 793,208 shares in the last quarter. Teewinot Capital Advisers L.L.C. acquired a new stake in New Residential Investment Corp. during the 1st quarter valued at approximately $1,433,000. Comerica Bank acquired a new stake in New Residential Investment Corp. during the 1st quarter valued at approximately $186,000. Finally, Cornerstone Capital Management Holdings LLC. grew its stake in New Residential Investment Corp. by 27.3% during the 1st quarter. Cornerstone Capital Management Holdings LLC. now owns 245,518 shares of the real estate investment trust’s stock valued at $4,168,000 after purchasing an additional 52,618 shares in the last quarter. Hedge funds and other institutional investors own 47.79% of the company’s stock.

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

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New Residential Investment Corp. (NRZ) opened at 16.75 on Thursday. The company has a market cap of $5.15 billion, a P/E ratio of 5.95 and a beta of 1.02. New Residential Investment Corp. has a 12-month low of $13.30 and a 12-month high of $17.86. The firm’s 50-day moving average price is $16.61 and its 200-day moving average price is $16.49.

New Residential Investment Corp. (NYSE:NRZ) last issued its quarterly earnings results on Monday, July 31st. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.48. New Residential Investment Corp. had a return on equity of 19.02% and a net margin of 55.85%. The firm had revenue of $356.80 million for the quarter, compared to analyst estimates of $202.40 million. During the same period in the previous year, the company posted $0.52 earnings per share. Analysts expect that New Residential Investment Corp. will post $2.56 EPS for the current year.

About New Residential Investment Corp.

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

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