State Board of Administration of Florida Retirement System Acquires 7,280 Shares of New Residential Investment Corp (NYSE:NRZ)

State Board of Administration of Florida Retirement System raised its position in New Residential Investment Corp (NYSE:NRZ) by 2.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 356,988 shares of the real estate investment trust’s stock after purchasing an additional 7,280 shares during the period. State Board of Administration of Florida Retirement System owned 0.09% of New Residential Investment worth $6,037,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Trust Co. of Vermont bought a new stake in shares of New Residential Investment in the 1st quarter valued at $27,000. Private Capital Group LLC bought a new stake in shares of New Residential Investment in the 1st quarter valued at $28,000. Cedar Wealth Management LLC increased its stake in shares of New Residential Investment by 50.0% in the 1st quarter. Cedar Wealth Management LLC now owns 1,800 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 600 shares in the last quarter. Prime Capital Investment Advisors LLC bought a new stake in shares of New Residential Investment in the 4th quarter valued at $26,000. Finally, First Manhattan Co. increased its stake in shares of New Residential Investment by 120.0% in the 1st quarter. First Manhattan Co. now owns 2,200 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 1,200 shares in the last quarter. Hedge funds and other institutional investors own 53.44% of the company’s stock.

NRZ stock traded down $0.09 during midday trading on Friday, reaching $15.46. 2,416,227 shares of the company’s stock traded hands, compared to its average volume of 4,037,392. The firm has a market capitalization of $6.46 billion, a PE ratio of 6.50 and a beta of 1.12. New Residential Investment Corp has a 52 week low of $13.86 and a 52 week high of $18.75.

New Residential Investment (NYSE:NRZ) last posted its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.53. New Residential Investment had a net margin of 29.22% and a return on equity of 13.39%. The firm had revenue of $423.08 million during the quarter, compared to analyst estimates of $403.45 million. During the same quarter in the prior year, the business posted $0.58 EPS. The business’s revenue was up 62.9% compared to the same quarter last year. Research analysts anticipate that New Residential Investment Corp will post 2.19 EPS for the current year.

A number of analysts have commented on the stock. Zacks Investment Research lowered shares of New Residential Investment from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. Nomura assumed coverage on shares of New Residential Investment in a research note on Wednesday, March 27th. They set a “buy” rating and a $18.50 price target for the company. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $19.30.

In related news, Director Andrew Sloves purchased 1,800 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were bought at an average cost of $16.65 per share, with a total value of $29,970.00. Following the acquisition, the director now owns 29,481 shares of the company’s stock, valued at $490,858.65. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Saltzman purchased 14,174 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was bought at an average cost of $16.66 per share, for a total transaction of $236,138.84. Following the completion of the acquisition, the director now directly owns 38,887 shares in the company, valued at approximately $647,857.42. The disclosure for this purchase can be found here. Corporate insiders own 0.47% of the company’s stock.

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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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