New Residential Investment Corp (NRZ) Stake Decreased by Teachers Advisors LLC
Teachers Advisors LLC reduced its position in New Residential Investment Corp (NYSE:NRZ) by 70.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 378,431 shares of the real estate investment trust’s stock after selling 883,580 shares during the period. Teachers Advisors LLC owned 0.11% of New Residential Investment worth $6,744,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Quad Cities Investment Group LLC boosted its stake in New Residential Investment by 111.1% in the 3rd quarter. Quad Cities Investment Group LLC now owns 9,665 shares of the real estate investment trust’s stock worth $173,000 after purchasing an additional 5,087 shares in the last quarter. Victory Capital Management Inc. boosted its stake in New Residential Investment by 50.1% in the 3rd quarter. Victory Capital Management Inc. now owns 10,947 shares of the real estate investment trust’s stock worth $195,000 after purchasing an additional 3,655 shares in the last quarter. Jane Street Group LLC acquired a new stake in New Residential Investment in the 2nd quarter worth approximately $226,000. Verition Fund Management LLC acquired a new stake in New Residential Investment in the 3rd quarter worth approximately $264,000. Finally, Claraphi Advisory Network LLC acquired a new stake in New Residential Investment in the 3rd quarter worth approximately $284,000. Institutional investors and hedge funds own 53.96% of the company’s stock.
NYSE NRZ traded up $0.04 on Monday, hitting $16.78. 381,379 shares of the company’s stock traded hands, compared to its average volume of 2,931,117. New Residential Investment Corp has a 1-year low of $13.86 and a 1-year high of $18.75. The stock has a market cap of $5.71 billion, a price-to-earnings ratio of 5.93, a PEG ratio of 7.31 and a beta of 1.10.
A number of analysts recently commented on the stock. Zacks Investment Research upgraded shares of New Residential Investment from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Friday, October 26th. Credit Suisse Group reiterated a “buy” rating and issued a $18.00 target price on shares of New Residential Investment in a research note on Friday, January 4th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $19.48.
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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 Related Assets, Residential Securities and Loans, and Other Investments 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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