New Residential Investment Corp (NYSE:NRZ) Shares Sold by Creative Planning

Creative Planning lowered its stake in shares of New Residential Investment Corp (NYSE:NRZ) by 1.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,814 shares of the real estate investment trust’s stock after selling 1,103 shares during the quarter. Creative Planning’s holdings in New Residential Investment were worth $954,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NRZ. Metropolitan Life Insurance Co NY lifted its position in New Residential Investment by 9.3% in the first quarter. Metropolitan Life Insurance Co NY now owns 9,747 shares of the real estate investment trust’s stock valued at $164,000 after purchasing an additional 828 shares during the period. FMR LLC lifted its position in New Residential Investment by 62.2% in the first quarter. FMR LLC now owns 779,914 shares of the real estate investment trust’s stock valued at $13,189,000 after purchasing an additional 299,097 shares during the period. Amundi Pioneer Asset Management Inc. lifted its position in New Residential Investment by 50.8% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 250,386 shares of the real estate investment trust’s stock valued at $4,234,000 after purchasing an additional 84,355 shares during the period. Centaurus Financial Inc. lifted its position in New Residential Investment by 26.4% in the first quarter. Centaurus Financial Inc. now owns 13,174 shares of the real estate investment trust’s stock valued at $779,000 after purchasing an additional 2,752 shares during the period. Finally, Denali Advisors LLC acquired a new stake in New Residential Investment in the second quarter valued at about $5,066,000. 51.36% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NRZ stock traded up $0.02 during midday trading on Wednesday, reaching $15.78. 3,589,850 shares of the company traded hands, compared to its average volume of 3,695,017. The firm’s 50 day simple moving average is $15.64 and its two-hundred day simple moving average is $15.34. New Residential Investment Corp has a 1-year low of $13.63 and a 1-year high of $17.34. The firm has a market cap of $6.55 billion, a PE ratio of 6.63 and a beta of 1.07.

New Residential Investment (NYSE:NRZ) last posted its quarterly earnings results on Friday, October 25th. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.01). New Residential Investment had a net margin of 19.60% and a return on equity of 12.69%. The company had revenue of $202.23 million for the quarter, compared to analyst estimates of $227.21 million. During the same quarter in the previous year, the business posted $0.63 earnings per share. As a group, equities research analysts expect that New Residential Investment Corp will post 2.09 EPS for the current year.

In other New Residential Investment news, Director Robert Mcginnis acquired 4,500 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was acquired at an average cost of $15.73 per share, with a total value of $70,785.00. Following the purchase, the director now directly owns 61,243 shares in the company, valued at approximately $963,352.39. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.47% of the stock is currently owned by company insiders.

NRZ has been the subject of a number of recent analyst reports. B. Riley set a $18.50 price objective on shares of New Residential Investment and gave the company a “buy” rating in a research report on Friday, October 25th. Zacks Investment Research upgraded shares of New Residential Investment from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Compass Point initiated coverage on shares of New Residential Investment in a research report on Monday. They issued a “buy” rating and a $19.00 price objective for the company. Piper Jaffray Companies downgraded shares of New Residential Investment from an “overweight” rating to a “neutral” rating and set a $16.00 price objective for the company. in a research report on Thursday, November 14th. Finally, Wedbush reiterated an “outperform” rating on shares of New Residential Investment in a research report on Monday, August 19th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $18.14.

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 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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