TIAA CREF Investment Management LLC raised its stake in shares of New Residential Investment Corp. (NYSE:NRZ) by 36.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,295,913 shares of the real estate investment trust’s stock after buying an additional 346,954 shares during the period. TIAA CREF Investment Management LLC’s holdings in New Residential Investment Corp. were worth $22,005,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. IFP Advisors Inc raised its position in New Residential Investment Corp. by 35.6% in the first quarter. IFP Advisors Inc now owns 6,565 shares of the real estate investment trust’s stock valued at $111,000 after buying an additional 1,724 shares during the period. Penserra Capital Management LLC raised its position in New Residential Investment Corp. by 73.2% in the first quarter. Penserra Capital Management LLC now owns 7,038 shares of the real estate investment trust’s stock valued at $119,000 after buying an additional 2,975 shares during the period. Acrospire Investment Management LLC raised its position in New Residential Investment Corp. by 94.3% in the first quarter. Acrospire Investment Management LLC now owns 8,897 shares of the real estate investment trust’s stock valued at $151,000 after buying an additional 4,317 shares during the period. James Investment Research Inc. acquired a new position in New Residential Investment Corp. during the first quarter valued at approximately $153,000. Finally, NEXT Financial Group Inc raised its position in New Residential Investment Corp. by 23.9% in the first quarter. NEXT Financial Group Inc now owns 9,241 shares of the real estate investment trust’s stock valued at $154,000 after buying an additional 1,784 shares during the period. 54.74% of the stock is owned by institutional investors and hedge funds.

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

New Residential Investment Corp. (NYSE:NRZ) traded down 2.90% during mid-day trading on Tuesday, hitting $16.42. 2,001,948 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $16.38 and a 200 day moving average of $16.40. The stock has a market capitalization of $5.05 billion, a P/E ratio of 8.05 and a beta of 1.00. New Residential Investment Corp. has a 52 week low of $12.58 and a 52 week high of $17.86.

New Residential Investment Corp. (NYSE:NRZ) last posted its earnings results on Monday, May 1st. The real estate investment trust reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.01. New Residential Investment Corp. had a net margin of 43.60% and a return on equity of 15.48%. The business had revenue of $170.60 million for the quarter, compared to analyst estimates of $239.83 million. During the same quarter in the prior year, the firm earned $0.49 EPS. The firm’s quarterly revenue was down 21.4% compared to the same quarter last year. Equities analysts forecast that New Residential Investment Corp. will post $2.12 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “TIAA CREF Investment Management LLC Has $22.01 Million Stake in New Residential Investment Corp. (NRZ)” was published by Daily Political and is the property of of Daily Political. If you are reading this news story on another publication, it was illegally copied and republished in violation of United States & international copyright law. The legal version of this news story can be viewed at https://www.dailypolitical.com/2017/06/20/tiaa-cref-investment-management-llc-has-22-01-million-stake-in-new-residential-investment-corp-nrz.html.

Several analysts recently weighed in on the stock. FBR & Co lifted their price objective on shares of New Residential Investment Corp. from $16.75 to $17.50 and gave the company an “outperform” rating in a research report on Wednesday, February 22nd. Zacks Investment Research upgraded shares of New Residential Investment Corp. from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Wednesday, April 5th. BidaskClub upgraded shares of New Residential Investment Corp. from a “hold” rating to a “buy” rating in a research report on Friday. Wedbush downgraded shares of New Residential Investment Corp. from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $17.00 to $16.50 in a research report on Tuesday. Finally, Vetr downgraded shares of New Residential Investment Corp. from a “buy” rating to a “hold” rating and set a $17.58 price objective on the stock. in a research report on Monday, May 1st. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $16.84.

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).

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 MarketBeat.com's FREE daily email newsletter.