New Residential Investment Corp (NRZ) Holdings Reduced by TIAA CREF Investment Management LLC

TIAA CREF Investment Management LLC trimmed its holdings in shares of New Residential Investment Corp (NYSE:NRZ) by 2.7% during the 4th quarter, Holdings Channel reports. The firm owned 990,445 shares of the real estate investment trust’s stock after selling 27,685 shares during the quarter. TIAA CREF Investment Management LLC’s holdings in New Residential Investment were worth $17,709,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Wells Fargo & Company MN boosted its stake in New Residential Investment by 6.7% during the 3rd quarter. Wells Fargo & Company MN now owns 709,541 shares of the real estate investment trust’s stock valued at $11,870,000 after purchasing an additional 44,478 shares during the last quarter. BB&T Securities LLC boosted its stake in New Residential Investment by 2.8% during the 3rd quarter. BB&T Securities LLC now owns 482,718 shares of the real estate investment trust’s stock valued at $8,075,000 after purchasing an additional 13,294 shares during the last quarter. Invictus RG purchased a new stake in New Residential Investment during the 3rd quarter valued at $320,000. Legal & General Group Plc boosted its stake in New Residential Investment by 25.7% during the 3rd quarter. Legal & General Group Plc now owns 266,008 shares of the real estate investment trust’s stock valued at $4,450,000 after purchasing an additional 54,446 shares during the last quarter. Finally, Chesley Taft & Associates LLC purchased a new stake in New Residential Investment during the 4th quarter valued at $564,000. Institutional investors and hedge funds own 48.41% of the company’s stock.

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Several brokerages have commented on NRZ. Vetr upgraded New Residential Investment from a “buy” rating to a “strong-buy” rating and set a $18.76 target price on the stock in a research note on Monday, February 5th. ValuEngine cut New Residential Investment from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. B. Riley set a $19.00 price target on New Residential Investment and gave the company a “buy” rating in a report on Tuesday, February 13th. Wedbush raised New Residential Investment from a “neutral” rating to an “outperform” rating and set a $20.00 price target on the stock in a report on Thursday, January 18th. Finally, Zacks Investment Research raised New Residential Investment from a “sell” rating to a “hold” rating in a report on Thursday, March 15th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. New Residential Investment presently has an average rating of “Buy” and a consensus target price of $18.64.

NYSE NRZ opened at $16.45 on Friday. The firm has a market cap of $5,529.42, a PE ratio of 5.83 and a beta of 0.97. New Residential Investment Corp has a 1-year low of $15.04 and a 1-year high of $18.43.

New Residential Investment (NYSE:NRZ) last released its quarterly earnings results on Tuesday, February 13th. The real estate investment trust reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.07. New Residential Investment had a return on equity of 18.73% and a net margin of 63.01%. The firm had revenue of $235.27 million for the quarter, compared to analysts’ expectations of $178.15 million. During the same period in the prior year, the firm earned $0.62 EPS. sell-side analysts predict that New Residential Investment Corp will post 2.19 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Monday, April 2nd will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $2.00 dividend on an annualized basis and a yield of 12.16%. New Residential Investment’s dividend payout ratio is currently 70.67%.

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New Residential Investment 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.

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

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