Alps Advisors Inc. purchased a new stake in New Residential Investment Corp (NYSE:NRZ) during the 2nd quarter, Holdings Channel reports. The fund purchased 28,481 shares of the real estate investment trust’s stock, valued at approximately $509,000.

Other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in New Residential Investment by 214.0% in the 2nd quarter. Victory Capital Management Inc. now owns 7,292 shares of the real estate investment trust’s stock valued at $128,000 after buying an additional 4,970 shares in the last quarter. Ostrum Asset Management acquired a new stake in New Residential Investment in the 1st quarter valued at $170,000. Hilltop Holdings Inc. acquired a new stake in New Residential Investment in the 1st quarter valued at $179,000. TLP Group LLC boosted its stake in New Residential Investment by 123,009.1% in the 1st quarter. TLP Group LLC now owns 13,542 shares of the real estate investment trust’s stock valued at $223,000 after buying an additional 13,531 shares in the last quarter. Finally, Gideon Capital Advisors Inc. acquired a new stake in New Residential Investment in the 1st quarter valued at $239,000. 52.57% of the stock is currently owned by institutional investors and hedge funds.

Shares of NRZ opened at $18.50 on Friday. New Residential Investment Corp has a 52-week low of $15.24 and a 52-week high of $18.75. The firm has a market capitalization of $6.35 billion, a price-to-earnings ratio of 6.54 and a beta of 0.93.

New Residential Investment (NYSE:NRZ) last issued its quarterly earnings data on Thursday, July 26th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.04. New Residential Investment had a return on equity of 14.85% and a net margin of 83.31%. The firm had revenue of $269.89 million during the quarter, compared to the consensus estimate of $130.70 million. During the same quarter in the previous year, the company posted $1.03 EPS. equities research analysts expect that New Residential Investment Corp will post 2.29 earnings per share for the current year.

In other New Residential Investment news, CEO Michael Nierenberg sold 339,177 shares of New Residential Investment stock in a transaction on Tuesday, June 26th. The stock was sold at an average price of $18.30, for a total value of $6,206,939.10. Following the completion of the transaction, the chief executive officer now owns 2,085,352 shares in the company, valued at approximately $38,161,941.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 4.00% of the company’s stock.

NRZ has been the topic of several recent analyst reports. Zacks Investment Research lowered New Residential Investment from a “buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. ValuEngine lowered New Residential Investment from a “buy” rating to a “hold” rating in a research note on Saturday, June 2nd. Finally, Barclays boosted their price target on New Residential Investment from $19.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, July 25th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. New Residential Investment currently has a consensus rating of “Buy” and a consensus target price of $19.59.

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

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