Arizona State Retirement System acquired a new stake in New Residential Investment Corp (NYSE:NRZ) in the first quarter, according to its most recent filing with the SEC. The fund acquired 97,550 shares of the real estate investment trust’s stock, valued at approximately $489,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Cetera Advisors LLC grew its stake in New Residential Investment by 3.9% in the 4th quarter. Cetera Advisors LLC now owns 18,916 shares of the real estate investment trust’s stock valued at $305,000 after buying an additional 709 shares in the last quarter. Cetera Investment Advisers grew its stake in New Residential Investment by 6.3% in the 4th quarter. Cetera Investment Advisers now owns 12,385 shares of the real estate investment trust’s stock valued at $200,000 after buying an additional 736 shares in the last quarter. Metropolitan Life Insurance Co NY grew its stake in New Residential Investment by 9.3% in the 1st quarter. Metropolitan Life Insurance Co NY now owns 9,747 shares of the real estate investment trust’s stock valued at $164,000 after buying an additional 828 shares in the last quarter. Liberty Wealth Management LLC grew its stake in New Residential Investment by 57.5% in the 4th quarter. Liberty Wealth Management LLC now owns 2,637 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 963 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in New Residential Investment by 4.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,486 shares of the real estate investment trust’s stock valued at $443,000 after buying an additional 1,063 shares in the last quarter. Institutional investors and hedge funds own 45.37% of the company’s stock.

NYSE NRZ opened at $7.00 on Friday. New Residential Investment Corp has a 52-week low of $2.91 and a 52-week high of $17.66. The company has a market capitalization of $2.89 billion, a P/E ratio of -2.42 and a beta of 1.80. The company has a fifty day moving average of $5.51 and a 200-day moving average of $12.77.

New Residential Investment (NYSE:NRZ) last posted its quarterly earnings data on Tuesday, May 5th. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.25. New Residential Investment had a negative net margin of 67.84% and a positive return on equity of 14.32%. The company had revenue of $185.52 million during the quarter, compared to the consensus estimate of $215.46 million. During the same period in the previous year, the firm posted $0.53 EPS. As a group, sell-side analysts predict that New Residential Investment Corp will post 0.75 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Wednesday, April 15th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date was Tuesday, April 14th. New Residential Investment’s dividend payout ratio is currently 9.22%.

A number of research firms have recently commented on NRZ. Nomura Securities boosted their price target on shares of New Residential Investment from $18.50 to $20.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. BTIG Research reduced their price target on shares of New Residential Investment from $18.00 to $10.50 in a research report on Thursday, April 2nd. ValuEngine upgraded shares of New Residential Investment from a “strong sell” rating to a “sell” rating in a research report on Friday, May 1st. TheStreet lowered shares of New Residential Investment from a “c-” rating to a “d” rating in a research report on Tuesday, May 5th. Finally, Zacks Investment Research upgraded shares of New Residential Investment from a “sell” rating to a “hold” rating in a research report on Friday, May 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $16.57.

In other New Residential Investment news, CFO Nicola Santoro, Jr. purchased 50,000 shares of the stock in a transaction on Wednesday, March 18th. The stock was acquired at an average cost of $5.84 per share, with a total value of $292,000.00. Following the completion of the purchase, the chief financial officer now directly owns 50,000 shares of the company’s stock, valued at approximately $292,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan L. Tyson purchased 10,000 shares of the stock in a transaction on Wednesday, March 18th. The stock was acquired at an average cost of $5.01 per share, with a total value of $50,100.00. Following the completion of the purchase, the director now directly owns 125,735 shares of the company’s stock, valued at $629,932.35. The disclosure for this purchase can be found here. Insiders own 0.47% of the company’s stock.

New Residential Investment Profile

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 and Originations, Residential Securities and Loans, and Consumer Loans 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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