Edge Capital Group LLC Acquires New Stake in New Residential Investment Corp (NRZ)
Edge Capital Group LLC acquired a new position in shares of New Residential Investment Corp (NYSE:NRZ) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 60,000 shares of the real estate investment trust’s stock, valued at approximately $853,000.
Several other hedge funds have also recently bought and sold shares of NRZ. MML Investors Services LLC raised its stake in New Residential Investment by 3.7% in the fourth quarter. MML Investors Services LLC now owns 45,329 shares of the real estate investment trust’s stock valued at $644,000 after buying an additional 1,617 shares during the period. Squarepoint Ops LLC bought a new stake in New Residential Investment in the fourth quarter valued at approximately $677,000. Intellectus Partners LLC raised its stake in New Residential Investment by 100.2% in the fourth quarter. Intellectus Partners LLC now owns 3,529 shares of the real estate investment trust’s stock valued at $52,000 after buying an additional 1,766 shares during the period. Two Sigma Securities LLC bought a new stake in New Residential Investment in the fourth quarter valued at approximately $308,000. Finally, Bronfman E.L. Rothschild L.P. raised its stake in New Residential Investment by 29.2% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 10,269 shares of the real estate investment trust’s stock valued at $146,000 after buying an additional 2,323 shares during the period. 48.19% of the stock is owned by institutional investors.
Several analysts have issued reports on the company. Zacks Investment Research lowered New Residential Investment from a “hold” rating to a “sell” rating in a research note on Saturday, March 16th. Credit Suisse Group restated a “buy” rating and issued a $18.00 price objective on shares of New Residential Investment in a research note on Friday, January 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $19.57.
New Residential Investment (NYSE:NRZ) last released its quarterly earnings data on Tuesday, February 12th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.03. The firm had revenue of $266.00 million for the quarter, compared to analyst estimates of $210.42 million. New Residential Investment had a return on equity of 13.88% and a net margin of 57.58%. During the same quarter in the prior year, the company earned $0.61 earnings per share. On average, equities research analysts forecast that New Residential Investment Corp will post 2.3 EPS for the current fiscal year.
In other news, CEO Michael Nierenberg bought 60,000 shares of the stock in a transaction dated Friday, February 22nd. The shares were bought at an average price of $16.50 per share, for a total transaction of $990,000.00. Following the completion of the purchase, the chief executive officer now owns 995,352 shares in the company, valued at $16,423,308. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.93% of the stock is currently owned by company insiders.
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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 Related Assets, Residential Securities and Loans, and Other Investments 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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