State Board of Administration of Florida Retirement System held its position in New Residential Investment Corp. (NYSE:NRZ) during the second quarter, Holdings Channel reports. The fund owned 75,880 shares of the real estate investment trust’s stock at the end of the second quarter. State Board of Administration of Florida Retirement System’s holdings in New Residential Investment Corp. were worth $1,050,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Exane Derivatives purchased a new position in New Residential Investment Corp. during the first quarter valued at $105,000. Envestnet Asset Management Inc. boosted its position in New Residential Investment Corp. by 172.0% in the first quarter. Envestnet Asset Management Inc. now owns 13,169 shares of the real estate investment trust’s stock valued at $153,000 after buying an additional 8,328 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in New Residential Investment Corp. during the second quarter valued at $158,000. Invictus RG purchased a new position in New Residential Investment Corp. during the first quarter valued at $159,000. Finally, Advocacy Wealth Management Services LLC boosted its position in New Residential Investment Corp. by 72.3% in the second quarter. Advocacy Wealth Management Services LLC now owns 12,155 shares of the real estate investment trust’s stock valued at $168,000 after buying an additional 5,101 shares during the last quarter. 53.36% of the stock is currently owned by hedge funds and other institutional investors.

New Residential Investment Corp. (NYSE:NRZ) traded down 1.31% during mid-day trading on Friday, reaching $14.26. 2,510,065 shares of the company’s stock traded hands. New Residential Investment Corp. has a one year low of $9.07 and a one year high of $14.89. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of 9.75 and a beta of 0.93. The firm’s 50-day moving average price is $14.27 and its 200 day moving average price is $13.12.

New Residential Investment Corp. (NYSE:NRZ) last released its earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. New Residential Investment Corp. had a net margin of 38.31% and a return on equity of 15.25%. The company had revenue of $137.43 million for the quarter, compared to analysts’ expectations of $161 million. During the same quarter in the previous year, the company earned $0.45 EPS. New Residential Investment Corp.’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities analysts forecast that New Residential Investment Corp. will post $1.72 EPS for the current year.

NRZ has been the topic of a number of research analyst reports. Zacks Investment Research cut New Residential Investment Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, July 27th. Vetr raised New Residential Investment Corp. from a “buy” rating to a “strong-buy” rating and set a $15.40 target price on the stock in a research note on Monday, June 13th. Credit Suisse Group AG set a $17.00 target price on New Residential Investment Corp. and gave the company a “buy” rating in a research note on Monday, August 8th. Barclays PLC increased their target price on New Residential Investment Corp. from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Wednesday, August 10th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and issued a $16.00 target price on shares of New Residential Investment Corp. in a research note on Friday, September 9th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $15.36.

About New Residential Investment Corp.

New Residential Investment Corp. is a real estate investment trust (REIT). The Company is focused on investing in, and managing, investments related to residential real estate. The Company conducts its business through the segments, which include investments in excess mortgage servicing rights (MSRs), investments in servicer advances, investments in real estate securities, investments in real estate loans, investments in consumer loans and corporate.

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