Edge Wealth Management LLC Has $766,000 Position in New Residential Investment Corp (NRZ)

Edge Wealth Management LLC increased its stake in shares of New Residential Investment Corp (NYSE:NRZ) by 64.4% during the first quarter, Holdings Channel reports. The fund owned 45,063 shares of the real estate investment trust’s stock after buying an additional 17,650 shares during the period. Edge Wealth Management LLC’s holdings in New Residential Investment Corp were worth $766,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Iron Financial LLC boosted its stake in shares of New Residential Investment Corp by 4.3% in the third quarter. Iron Financial LLC now owns 18,595 shares of the real estate investment trust’s stock valued at $257,000 after buying an additional 760 shares during the last quarter. BlackRock Inc. boosted its stake in shares of New Residential Investment Corp by 1.5% in the third quarter. BlackRock Inc. now owns 70,812 shares of the real estate investment trust’s stock valued at $978,000 after buying an additional 1,039 shares during the last quarter. Aperio Group LLC boosted its stake in shares of New Residential Investment Corp by 3.4% in the third quarter. Aperio Group LLC now owns 37,125 shares of the real estate investment trust’s stock valued at $513,000 after buying an additional 1,206 shares during the last quarter. Stockman Wealth Management Inc. boosted its stake in shares of New Residential Investment Corp by 1.1% in the fourth quarter. Stockman Wealth Management Inc. now owns 129,100 shares of the real estate investment trust’s stock valued at $2,029,000 after buying an additional 1,400 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its stake in shares of New Residential Investment Corp by 11.5% in the fourth quarter. GSA Capital Partners LLP now owns 18,360 shares of the real estate investment trust’s stock valued at $289,000 after buying an additional 1,901 shares during the last quarter. Institutional investors and hedge funds own 46.29% of the company’s stock.

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

Shares of New Residential Investment Corp (NYSE:NRZ) traded up 0.17% during trading on Wednesday, reaching $17.28. The company’s stock had a trading volume of 2,602,345 shares. New Residential Investment Corp has a 52-week low of $11.65 and a 52-week high of $17.38. The stock’s 50 day moving average price is $16.88 and its 200-day moving average price is $15.59. The stock has a market cap of $5.31 billion, a price-to-earnings ratio of 8.16 and a beta of 0.96.

New Residential Investment Corp (NYSE:NRZ) last posted its quarterly earnings results on Tuesday, February 21st. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.07. New Residential Investment Corp had a return on equity of 15.13% and a net margin of 38.93%. During the same quarter last year, the business posted $0.52 EPS. Equities analysts anticipate that New Residential Investment Corp will post $2.11 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Monday, March 27th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 11.11%. This is a positive change from New Residential Investment Corp’s previous quarterly dividend of $0.46. The ex-dividend date is Thursday, March 23rd. New Residential Investment Corp’s dividend payout ratio (DPR) is presently 112.20%.

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Several brokerages recently commented on NRZ. Vetr cut New Residential Investment Corp from a “buy” rating to a “hold” rating and set a $17.92 target price on the stock. in a report on Tuesday. Zacks Investment Research upgraded New Residential Investment Corp from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Wednesday, April 5th. FBR & Co upped their target price on New Residential Investment Corp from $16.75 to $17.50 and gave the company an “outperform” rating in a report on Wednesday, February 22nd. Compass Point upgraded New Residential Investment Corp from a “neutral” rating to a “buy” rating in a report on Tuesday, January 31st. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of New Residential Investment Corp in a report on Monday, February 6th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. New Residential Investment Corp presently has a consensus rating of “Buy” and a consensus target price of $16.71.

In related news, CEO Michael Nierenberg purchased 18,600 shares of New Residential Investment Corp stock in a transaction that occurred on Friday, February 3rd. The shares were acquired at an average cost of $15.00 per share, for a total transaction of $279,000.00. Following the transaction, the chief executive officer now directly owns 935,352 shares in the company, valued at $14,030,280. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.00% of the stock is owned by company insiders.

About New Residential Investment Corp

New Residential Investment Corp. is a real estate investment trust (REIT). The Company focuses on investing in, and managing, investments related to residential real estate. The Company’s segments include investments in excess mortgage servicing rights (Excess MSRs); investments in mortgage servicing rights (MSRs); investments in servicer advances; investments in real estate securities; investments in residential mortgage loans; investments in consumer loans, and corporate.

5 Day Chart for NYSE:NRZ

Want to see what other hedge funds are holding NRZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for New Residential Investment Corp (NYSE:NRZ).

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