Menlo Advisors LLC Invests $2.352 Million in New Residential Investment Corp (NRZ)

Menlo Advisors LLC acquired a new position in New Residential Investment Corp (NYSE:NRZ) during the first quarter, Holdings Channel reports. The fund acquired 138,560 shares of the real estate investment trust’s stock, valued at approximately $2,352,000. New Residential Investment Corp makes up about 1.8% of Menlo Advisors LLC’s portfolio, making the stock its 24th largest position.

Several other hedge funds and other institutional investors also recently modified their holdings of NRZ. Bank of Montreal Can boosted its position in shares of New Residential Investment Corp by 433.8% in the third quarter. Bank of Montreal Can now owns 659,564 shares of the real estate investment trust’s stock worth $9,109,000 after buying an additional 536,000 shares in the last quarter. BB&T Securities LLC boosted its position in shares of New Residential Investment Corp by 5.6% in the third quarter. BB&T Securities LLC now owns 393,847 shares of the real estate investment trust’s stock worth $5,439,000 after buying an additional 20,995 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of New Residential Investment Corp by 8.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 6,441,903 shares of the real estate investment trust’s stock worth $88,963,000 after buying an additional 516,825 shares in the last quarter. Swiss National Bank boosted its position in shares of New Residential Investment Corp by 6.6% in the third quarter. Swiss National Bank now owns 405,405 shares of the real estate investment trust’s stock worth $5,599,000 after buying an additional 25,100 shares in the last quarter. Finally, EJF Capital LLC bought a new position in shares of New Residential Investment Corp during the third quarter worth approximately $43,745,000. Institutional investors 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 0.81% during mid-day trading on Thursday, reaching $17.42. The company’s stock had a trading volume of 3,809,758 shares. The company has a 50 day moving average price of $16.90 and a 200 day moving average price of $15.60. New Residential Investment Corp has a 12 month low of $11.68 and a 12 month high of $17.44. The stock has a market capitalization of $5.35 billion, a P/E ratio of 8.22 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 for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.07. New Residential Investment Corp had a net margin of 38.93% and a return on equity of 15.13%. During the same period in the prior year, the firm earned $0.52 EPS. On average, equities research analysts anticipate that New Residential Investment Corp will post $2.11 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Shareholders 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 11.02%. This is an increase from New Residential Investment Corp’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Thursday, March 23rd. New Residential Investment Corp’s dividend payout ratio is presently 112.20%.

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A number of research analysts have commented on NRZ shares. Keefe, Bruyette & Woods restated an “outperform” rating on shares of New Residential Investment Corp in a research note on Monday, February 6th. Zacks Investment Research cut New Residential Investment Corp from a “buy” rating to a “hold” rating in a research note on Thursday, January 5th. FBR & Co reiterated an “outperform” rating and issued a $17.50 price target on shares of New Residential Investment Corp in a research note on Tuesday, March 28th. Compass Point upgraded New Residential Investment Corp from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 31st. Finally, Vetr cut New Residential Investment Corp from a “buy” rating to a “hold” rating and set a $17.92 price target on the stock. in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $16.71.

In other New Residential Investment Corp news, CEO Michael Nierenberg bought 18,600 shares of the stock in a transaction on Friday, February 3rd. The shares were purchased at an average cost of $15.00 per share, with a total value of $279,000.00. Following the completion of the transaction, the chief executive officer now directly owns 935,352 shares of the company’s stock, valued at approximately $14,030,280. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.00% of the company’s stock.

New Residential Investment Corp Company Profile

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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