David Saltzman Acquires 14,174 Shares of New Residential Investment Corp (NYSE:NRZ) Stock

New Residential Investment Corp (NYSE:NRZ) Director David Saltzman acquired 14,174 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average price of $16.66 per share, with a total value of $236,138.84. Following the completion of the transaction, the director now directly owns 38,887 shares in the company, valued at approximately $647,857.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NYSE:NRZ traded down $0.39 during trading hours on Thursday, reaching $15.59. 4,996,000 shares of the stock were exchanged, compared to its average volume of 4,031,366. New Residential Investment Corp has a twelve month low of $13.86 and a twelve month high of $18.75. The company has a market cap of $6.66 billion, a P/E ratio of 6.55 and a beta of 1.09.

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

Several institutional investors have recently made changes to their positions in NRZ. State Treasurer State of Michigan raised its stake in shares of New Residential Investment by 131.1% during the 4th quarter. State Treasurer State of Michigan now owns 7,154,734 shares of the real estate investment trust’s stock worth $101,669,000 after purchasing an additional 4,058,558 shares in the last quarter. Norges Bank bought a new stake in shares of New Residential Investment during the 4th quarter worth approximately $50,412,000. Vaughan Nelson Investment Management L.P. raised its stake in shares of New Residential Investment by 87.7% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 7,103,965 shares of the real estate investment trust’s stock worth $100,946,000 after purchasing an additional 3,318,765 shares in the last quarter. BlackRock Inc. raised its stake in shares of New Residential Investment by 12.4% during the 1st quarter. BlackRock Inc. now owns 24,944,962 shares of the real estate investment trust’s stock worth $421,818,000 after purchasing an additional 2,755,787 shares in the last quarter. Finally, Graticule Asia Macro Advisors LLC bought a new stake in shares of New Residential Investment during the 1st quarter worth approximately $16,832,000. Institutional investors own 53.45% of the company’s stock.

A number of equities analysts have weighed in on the company. Zacks Investment Research downgraded New Residential Investment from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Nomura assumed coverage on New Residential Investment in a research report on Wednesday, March 27th. They set a “buy” rating and a $18.50 price target for the company. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $19.30.

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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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