First Manhattan Co. held its stake in shares of New Residential Investment Corp. (NYSE:NRZ) during the second quarter, Holdings Channel reports. The institutional investor owned 12,600 shares of the real estate investment trust’s stock at the end of the second quarter. First Manhattan Co.’s holdings in New Residential Investment Corp. were worth $196,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Wells Fargo & Company MN raised its stake in shares of New Residential Investment Corp. by 58.7% in the first quarter. Wells Fargo & Company MN now owns 1,413,015 shares of the real estate investment trust’s stock valued at $23,993,000 after buying an additional 522,706 shares during the last quarter. Telemus Capital LLC raised its stake in shares of New Residential Investment Corp. by 11.6% in the first quarter. Telemus Capital LLC now owns 262,745 shares of the real estate investment trust’s stock valued at $4,461,000 after buying an additional 27,390 shares during the last quarter. Suntrust Banks Inc. raised its stake in shares of New Residential Investment Corp. by 6.8% in the first quarter. Suntrust Banks Inc. now owns 47,874 shares of the real estate investment trust’s stock valued at $811,000 after buying an additional 3,051 shares during the last quarter. Creative Planning raised its stake in shares of New Residential Investment Corp. by 12.2% in the first quarter. Creative Planning now owns 58,822 shares of the real estate investment trust’s stock valued at $999,000 after buying an additional 6,386 shares during the last quarter. Finally, Penn Mutual Life Insurance Co. raised its stake in shares of New Residential Investment Corp. by 102.1% in the first quarter. Penn Mutual Life Insurance Co. now owns 380,000 shares of the real estate investment trust’s stock valued at $6,335,000 after buying an additional 192,000 shares during the last quarter. 54.85% of the stock is currently owned by institutional investors.

Shares of New Residential Investment Corp. (NRZ) opened at 16.56 on Friday. The firm has a market cap of $5.09 billion, a price-to-earnings ratio of 5.88 and a beta of 1.02. New Residential Investment Corp. has a 52 week low of $13.30 and a 52 week high of $17.86. The company has a 50-day moving average price of $16.09 and a 200 day moving average price of $16.43.

New Residential Investment Corp. (NYSE:NRZ) last posted its quarterly earnings data on Monday, July 31st. The real estate investment trust reported $1.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.48. New Residential Investment Corp. had a return on equity of 19.02% and a net margin of 55.85%. The firm had revenue of $356.80 million for the quarter, compared to analyst estimates of $202.40 million. During the same quarter last year, the company earned $0.52 EPS. Analysts expect that New Residential Investment Corp. will post $2.46 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Monday, July 3rd were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 12.08%. The ex-dividend date was Thursday, June 29th. This is a positive change from New Residential Investment Corp.’s previous quarterly dividend of $0.48. New Residential Investment Corp.’s dividend payout ratio (DPR) is 72.20%.

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NRZ has been the topic of several recent research reports. ValuEngine lowered New Residential Investment Corp. from a “strong-buy” rating to a “buy” rating in a report on Friday, June 30th. Zacks Investment Research lowered New Residential Investment Corp. from a “buy” rating to a “sell” rating in a report on Wednesday, July 5th. FBR & Co reissued an “outperform” rating and set a $17.50 price objective on shares of New Residential Investment Corp. in a report on Sunday, April 23rd. BidaskClub lowered New Residential Investment Corp. from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Finally, Vetr lowered New Residential Investment Corp. from a “buy” rating to a “hold” rating and set a $17.58 price objective on the stock. in a report on Monday, May 1st. One investment analyst has rated the stock with a sell rating, three have given 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 price target of $16.62.

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

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