Envestnet Asset Management Inc. grew its stake in New Residential Investment Corp (NYSE:NRZ) by 605,050.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,515 shares of the real estate investment trust’s stock after purchasing an additional 60,505 shares during the quarter. Envestnet Asset Management Inc.’s holdings in New Residential Investment were worth $1,013,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in shares of New Residential Investment by 1.2% in the third quarter. Bank of New York Mellon Corp now owns 2,872,643 shares of the real estate investment trust’s stock valued at $48,058,000 after purchasing an additional 32,892 shares during the period. Goldman Sachs Group Inc. raised its position in shares of New Residential Investment by 211.2% in the second quarter. Goldman Sachs Group Inc. now owns 2,147,579 shares of the real estate investment trust’s stock valued at $33,416,000 after purchasing an additional 1,457,525 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of New Residential Investment by 41.9% in the third quarter. Schwab Charles Investment Management Inc. now owns 1,734,966 shares of the real estate investment trust’s stock valued at $29,026,000 after purchasing an additional 512,474 shares during the period. First Trust Advisors LP raised its position in shares of New Residential Investment by 56.0% in the third quarter. First Trust Advisors LP now owns 1,346,443 shares of the real estate investment trust’s stock valued at $22,526,000 after purchasing an additional 483,316 shares during the period. Finally, Yorktown Management & Research Co Inc bought a new position in shares of New Residential Investment in the third quarter valued at about $20,913,000. 48.49% of the stock is currently owned by institutional investors.

New Residential Investment Corp (NYSE NRZ) opened at $18.01 on Wednesday. New Residential Investment Corp has a 1 year low of $15.03 and a 1 year high of $18.43. The company has a market cap of $5,618.56, a PE ratio of 6.46, a P/E/G ratio of 6.83 and a beta of 1.02.

New Residential Investment (NYSE:NRZ) last released its quarterly earnings results on Friday, October 27th. The real estate investment trust reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.08. New Residential Investment had a net margin of 60.06% and a return on equity of 19.38%. The business had revenue of $331.38 million for the quarter, compared to analyst estimates of $291.66 million. During the same period last year, the firm earned $0.51 earnings per share. New Residential Investment’s revenue for the quarter was up 72.1% compared to the same quarter last year. equities analysts predict that New Residential Investment Corp will post 2.68 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Friday, December 29th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 11.10%. The ex-dividend date is Thursday, December 28th. New Residential Investment’s dividend payout ratio is currently 64.72%.

A number of equities analysts recently commented on NRZ shares. B. Riley reaffirmed a “buy” rating and set a $19.25 price target on shares of New Residential Investment in a research report on Wednesday, November 29th. Zacks Investment Research lowered shares of New Residential Investment from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. FBR & Co reaffirmed a “buy” rating and set a $19.25 price target on shares of New Residential Investment in a research report on Monday, October 30th. Vetr raised shares of New Residential Investment from a “hold” rating to a “buy” rating and set a $17.75 price target on the stock in a research report on Thursday, October 26th. Finally, Barclays raised their price target on shares of New Residential Investment from $16.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 24th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $18.09.

ILLEGAL ACTIVITY NOTICE: This report was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this report on another publication, it was copied illegally and republished in violation of US and international trademark and copyright law. The original version of this report can be viewed at https://www.thecerbatgem.com/2017/12/20/new-residential-investment-corp-nrz-shares-bought-by-envestnet-asset-management-inc.html.

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.

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

Receive News & Ratings for New Residential Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Residential Investment and related companies with MarketBeat.com's FREE daily email newsletter.