New Residential Investment (NYSE:NRZ) Shares Gap Up to $6.68
New Residential Investment Corp (NYSE:NRZ) shares gapped up prior to trading on Thursday . The stock had previously closed at $6.99, but opened at $6.68. New Residential Investment shares last traded at $6.96, with a volume of 585,681 shares changing hands.
A number of brokerages recently commented on NRZ. TheStreet lowered shares of New Residential Investment from a “c-” rating to a “d” rating in a research note on Tuesday, May 5th. ValuEngine raised shares of New Residential Investment from a “strong sell” rating to a “sell” rating in a report on Friday, May 1st. BTIG Research cut their price objective on shares of New Residential Investment from $18.00 to $10.50 in a report on Thursday, April 2nd. Argus downgraded shares of New Residential Investment from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Finally, Nomura Securities boosted their price objective on shares of New Residential Investment from $18.50 to $20.00 and gave the company a “buy” rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. New Residential Investment currently has a consensus rating of “Hold” and a consensus price target of $16.57.
The stock’s fifty day moving average price is $5.51 and its two-hundred day moving average price is $12.77. The company has a market cap of $2.89 billion, a P/E ratio of -2.42 and a beta of 1.80.
The company also recently declared 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 of this dividend was Tuesday, April 14th. New Residential Investment’s dividend payout ratio (DPR) is presently 9.22%.
In related news, Director Alan L. Tyson acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The stock was acquired at an average price of $5.01 per share, with a total value of $50,100.00. Following the purchase, the director now directly owns 125,735 shares in the company, valued at $629,932.35. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Nicola Santoro, Jr. acquired 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The stock was bought at an average cost of $5.84 per share, with a total value of $292,000.00. Following the purchase, the chief financial officer now owns 50,000 shares in the company, valued at $292,000. The disclosure for this purchase can be found here. Corporate insiders own 0.47% of the company’s stock.
Large investors have recently modified their holdings of the stock. Weaver Consulting Group bought a new position in New Residential Investment in the 1st quarter valued at approximately $26,000. Golden State Wealth Management LLC bought a new position in New Residential Investment in the 1st quarter valued at approximately $33,000. Orion Portfolio Solutions LLC bought a new position in New Residential Investment in the 4th quarter valued at approximately $36,000. Tower Research Capital LLC TRC lifted its stake in New Residential Investment by 192.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 7,600 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 5,005 shares during the last quarter. Finally, Liberty Wealth Management LLC increased its position 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 acquiring an additional 963 shares during the period. 45.37% of the stock is owned by institutional investors and hedge funds.
New Residential Investment Company Profile (NYSE:NRZ)
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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