Wells Fargo & Company MN lowered its stake in shares of New Residential Investment Corp. (NYSE:NRZ) by 52.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 665,063 shares of the real estate investment trust’s stock after selling 747,952 shares during the quarter. Wells Fargo & Company MN owned 0.22% of New Residential Investment Corp. worth $10,347,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. lifted its stake in New Residential Investment Corp. by 63.4% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 155,034 shares of the real estate investment trust’s stock valued at $2,412,000 after acquiring an additional 60,175 shares in the last quarter. Utah Retirement Systems bought a new stake in shares of New Residential Investment Corp. in the 2nd quarter worth $874,000. Swiss National Bank grew its stake in shares of New Residential Investment Corp. by 3.2% in the 2nd quarter. Swiss National Bank now owns 511,905 shares of the real estate investment trust’s stock worth $7,965,000 after acquiring an additional 15,800 shares in the last quarter. Chicago Equity Partners LLC grew its stake in shares of New Residential Investment Corp. by 139.0% in the 2nd quarter. Chicago Equity Partners LLC now owns 395,250 shares of the real estate investment trust’s stock worth $6,150,000 after acquiring an additional 229,885 shares in the last quarter. Finally, Geneva Advisors LLC grew its stake in shares of New Residential Investment Corp. by 24.1% in the 2nd quarter. Geneva Advisors LLC now owns 136,262 shares of the real estate investment trust’s stock worth $2,120,000 after acquiring an additional 26,443 shares in the last quarter. Institutional investors and hedge funds own 48.12% of the company’s stock.

Shares of New Residential Investment Corp. (NYSE:NRZ) opened at 16.94 on Wednesday. The firm has a 50-day moving average price of $16.66 and a 200-day moving average price of $16.50. The stock has a market capitalization of $5.21 billion, a P/E ratio of 6.01 and a beta of 1.03. New Residential Investment Corp. has a 52-week low of $13.42 and a 52-week high of $17.86.

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

The business also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Monday, October 2nd will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 11.81%. The ex-dividend date is Friday, September 29th. New Residential Investment Corp.’s dividend payout ratio (DPR) is presently 72.20%.

TRADEMARK VIOLATION NOTICE: This story was originally posted by Watch List News and is the property of of Watch List News. If you are reading this story on another publication, it was copied illegally and republished in violation of U.S. and international copyright laws. The legal version of this story can be viewed at https://www.watchlistnews.com/wells-fargo-company-mn-sells-747952-shares-of-new-residential-investment-corp-nrz/1606862.html.

A number of research analysts recently weighed in on NRZ shares. ValuEngine raised shares of New Residential Investment Corp. from a “buy” rating to a “strong-buy” rating in a research report on Monday. Vetr upgraded shares of New Residential Investment Corp. from a “hold” rating to a “buy” rating and set a $17.72 price objective for the company in a research note on Monday. BidaskClub upgraded New Residential Investment Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Keefe, Bruyette & Woods set a $17.00 target price on New Residential Investment Corp. and gave the stock a “buy” rating in a research note on Tuesday, June 6th. Finally, Zacks Investment Research raised New Residential Investment Corp. from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $16.97.

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.

Want to see what other hedge funds are holding NRZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for New Residential Investment Corp. (NYSE:NRZ).

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

Receive News & Ratings for New Residential Investment Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Residential Investment Corp. and related companies with Analyst Ratings Network's FREE daily email newsletter.