New Residential Investment Corp (NRZ) Shares Sold by Independent Advisor Alliance
Independent Advisor Alliance trimmed its stake in New Residential Investment Corp (NYSE:NRZ) by 30.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,649 shares of the real estate investment trust’s stock after selling 11,399 shares during the period. Independent Advisor Alliance’s holdings in New Residential Investment were worth $440,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Alps Advisors Inc. grew its position in New Residential Investment by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 28,952 shares of the real estate investment trust’s stock worth $450,000 after purchasing an additional 75 shares during the last quarter. US Bancorp DE grew its position in New Residential Investment by 0.6% in the 2nd quarter. US Bancorp DE now owns 15,807 shares of the real estate investment trust’s stock worth $245,000 after purchasing an additional 100 shares during the last quarter. Penserra Capital Management LLC grew its position in New Residential Investment by 8.4% in the 2nd quarter. Penserra Capital Management LLC now owns 7,631 shares of the real estate investment trust’s stock worth $118,000 after purchasing an additional 593 shares during the last quarter. IFP Advisors Inc grew its position in New Residential Investment by 9.6% in the 2nd quarter. IFP Advisors Inc now owns 7,194 shares of the real estate investment trust’s stock worth $112,000 after purchasing an additional 629 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its position in New Residential Investment by 4.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 24,567 shares of the real estate investment trust’s stock worth $382,000 after purchasing an additional 997 shares during the last quarter. Institutional investors own 48.61% of the company’s stock.
NRZ has been the subject of a number of analyst reports. Piper Jaffray Companies reaffirmed a “buy” rating and set a $18.00 price objective on shares of New Residential Investment in a report on Sunday, August 27th. FBR & Co reaffirmed a “buy” rating and set a $17.50 price objective on shares of New Residential Investment in a report on Monday, October 9th. Barclays raised their price objective on shares of New Residential Investment from $16.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, October 24th. Zacks Investment Research downgraded shares of New Residential Investment from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Finally, Vetr raised shares of New Residential Investment from a “hold” rating to a “buy” rating and set a $17.75 price objective for the company in a report on Thursday, October 26th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $18.09.
Shares of New Residential Investment Corp (NYSE NRZ) traded up $0.07 during mid-day trading on Thursday, reaching $18.10. 386,283 shares of the company traded hands, compared to its average volume of 3,683,449. New Residential Investment Corp has a 12-month low of $15.03 and a 12-month high of $18.18. The company has a market cap of $5,538.65, a P/E ratio of 6.37, a P/E/G ratio of 6.74 and a beta of 1.02.
New Residential Investment (NYSE:NRZ) last announced its earnings results on Friday, October 27th. The real estate investment trust reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.08. New Residential Investment had a net margin of 60.06% and a return on equity of 19.38%. The company had revenue of $331.38 million during the quarter, compared to the consensus estimate of $291.66 million. During the same period in the previous year, the firm posted $0.51 earnings per share. The company’s revenue was up 72.1% on a year-over-year basis. equities research analysts expect that New Residential Investment Corp will post 2.68 EPS for the current year.
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New Residential Investment 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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