Spire Wealth Management raised its stake in New Residential Investment Corp. (NYSE:NRZ – Get Rating ) by 603.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,742 shares of the real estate investment trust’s stock after purchasing an additional 7,500 shares during the period. Spire Wealth Management’s holdings in New Residential Investment were worth $96,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of NRZ. Huntington National Bank purchased a new position in New Residential Investment during the 4th quarter valued at approximately $32,000. UMB Bank NA MO purchased a new position in New Residential Investment during the 4th quarter valued at approximately $32,000. First Horizon Advisors Inc. raised its position in shares of New Residential Investment by 207.1% in the 4th quarter. First Horizon Advisors Inc. now owns 3,329 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 2,245 shares during the last quarter. Amplius Wealth Advisors LLC purchased a new stake in shares of New Residential Investment during the 4th quarter valued at $42,000. Finally, National Bank of Canada FI purchased a new stake in shares of New Residential Investment during the 4th quarter valued at $42 000. Hedge funds and other institutional investors own 46.48% of the company’s shares.
NRZ has been the subject of several recent research reports. StockNews.com raised shares of New Residential Investment from a “hold” rating to a “buy” rating in a research report on Monday, May 9th. Piper Sandler lowered shares of New Residential Investment from a “neutral” rating to an “underweight” rating and cut their target price for the company from $12.00 to $10.00 in a research report on Monday, June 13th. Finally, Raymond James boosted their target price on shares of New Residential Investment from $13.00 to $13.50 and gave the company an “outperform” rating in a research report on Tuesday, March 29th. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.20, based on data from MarketBeat.
Shares of NRZ stock opened at $9.46 on Thursday. New Residential Investment Corp. has a 12-month low of $8.18 and a 12-month high of $11.81. The firm has a market cap of $4.42 billion, a price-to-earnings ratio of 4.19 and a beta of 1.67. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.09. The firm has a fifty day moving average of $10.41 and a 200 day moving average of $10.54.
New Residential Investment (NYSE:NRZ – Get Rating ) last announced its quarterly earnings results on Tuesday, May 3rd. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. New Residential Investment had a net margin of 28.82% and a return on equity of 13.84%. During the same period last year, the business posted earnings of $0.34 per share. Analysts expect that New Residential Investment Corp. will report 1.21 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Friday, July 1st will be given a $0.25 dividend. This represents a dividend of $1.00 per year and a yield of 10.57%. The ex-dividend date is Thursday, June 30th. New Residential Investment’s payout ratio is currently 44.25%.
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New Residential Investment Corp. operates as a real estate investment trust in the United States. It operates through origination, servicing, MSR-related investments, residential securities, real estate and loans, consumer loans, mortgage loans and corporate segments. The company invests in mortgage servicing rights, mortgage origination and servicing companies, residential mortgage-backed securities, real estate and loans, consumer loans and other opportunistic investments.
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