Infrastructure Capital Advisors LLC increased its stake in New Residential Investment Corp. (NYSE:NRZ) by 136.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,001 shares of the real estate investment trust’s stock after buying an additional 15,001 shares during the quarter. Infrastructure Capital Advisors LLC’s holdings in New Residential Investment were worth $275,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NRZ. Harbour Investments Inc. bought a new position in New Residential Investment in the first quarter valued at about $25,000. Tradewinds Capital Management LLC purchased a new position in shares of New Residential Investment during the 2nd quarter valued at $26,000. Tradition Wealth Management LLC purchased a new position in shares of New Residential Investment during the 2nd quarter valued at $29,000. TCI Wealth Advisors Inc. lifted its position in shares of New Residential Investment by 1,807.2% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 3,166 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 3,000 shares during the last quarter. Finally, Horan Securities Inc. purchased a new stake in New Residential Investment during the 2nd quarter worth about $40,000. 48.68% of the stock is owned by institutional investors.
Shares of New Residential Investment stock traded up $0.05 during trading on Thursday, hitting $11.37. 68,656 shares of the stock traded hands, compared to its average volume of 5,470,812. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.10. The stock has a market cap of $5.31 billion, a price-to-earnings ratio of 8.98 and a beta of 1.93. The firm’s fifty day moving average is $10.65 and its 200-day moving average is $10.51. New Residential Investment Corp. has a 52 week low of $7.27 and a 52 week high of $11.48.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 29th. Shareholders of record on Monday, October 4th will be issued a $0.25 dividend. The ex-dividend date is Friday, October 1st. This represents a $1.00 annualized dividend and a yield of 8.80%. This is a boost from New Residential Investment’s previous quarterly dividend of $0.20. New Residential Investment’s dividend payout ratio (DPR) is 68.49%.
A number of brokerages recently issued reports on NRZ. Barclays began coverage on New Residential Investment in a report on Wednesday, September 29th. They set an “overweight” rating on the stock. Credit Suisse Group began coverage on New Residential Investment in a report on Monday, August 30th. They set an “outperform” rating and a $13.00 price objective on the stock. Zacks Investment Research raised New Residential Investment from a “sell” rating to a “hold” rating in a report on Wednesday, August 11th. Finally, Wedbush reissued an “outperform” rating on shares of New Residential Investment in a report on Friday, October 8th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $11.73.
New Residential Investment Profile
New Residential Investment Corp. is a real estate investment trust, which focuses on investing and actively managing, investments related to residential real estate. It operates through the following segments: Origination, Servicing, MSR Related Investments, Residential Securities and Loans, Consumer Loans and Corporate.
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