New Residential Investment Corp. (NRZ) added to 50 new portfolios
- Author: Zachary Reyes Feb 24, 2017,
Feb 24, 2017, 4:25
PNC Financial Services Group Inc. increased its position in shares of New Residential Investment Corp.by 58.3% in the second quarter.
Many research firms have provided their ratings on New Residential Investment Corp. For recent position, 8 analysts have ranked the NRZ with Buy ratings.
During and after fourth quarter, New Residential continued to improve funding by securing fixed-rate financing, lowering cost of funds and extending maturities. New Residential Investment Corp.is based in NY. Analysts have a mean recommendation of 3.00 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range). In any case, New Residential Investment's dividend coverage stats are excellent (and improving, actually), leaving significant headroom for dividend growth, or a special dividend. (NYSE:NRZ) will release its earnings at about 3%.
Today there are 250,773,000 shares in issue of New Residential Investment Corp which are now trading at 16.51 which brings the business's market capitalisation to 4.14B United States dollars. The company's 50-day moving average is $15.96 and its 200-day moving average is $14.68.
New Residential Investment has PE ratio of 10.08 with a one year low of $10.30 and a one year high of $16.55 and has a market capitalization of $0.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Monday, March 27th will be given a dividend of $0.48 per share.
EPS growth in next year is estimated to reach 2.31% while EPS growth estimate for this year is set at -47.60%. New Residential Investment Corp.'s payout ratio is presently 112.20%.
In other news, Director Andrew Sloves purchased 13,200 shares of the firm's stock in a transaction on Friday, November 11th. The shares were sold at an average price of $60.46, for a total value of $340,571.18. Following the completion of the transaction, the director now owns 700 shares of the company's stock, valued at approximately $9,954. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.00% of the company's stock.
Several hedge funds and other institutional investors have recently made changes to their positions in NRZ. NEXT Financial Group Inc increased its position in New Residential Investment Corp.by 19.3% in the third quarter. The last session's volume of 2.13 million shares was higher than its average volume of 1.72 million shares. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of New Residential Investment Corp.by 11.4% in the third quarter. AllSquare Wealth Management LLC now owns 26,900 shares of the real estate investment trust's stock worth $372,000 after buying an additional 3,800 shares during the last quarter. Municipal Employees Retirement System of MI raised its position in shares of Equity Residential by 0.3% in the third quarter. Finally, Public Employees Retirement System of OH raised its position in shares of New Residential Investment Corp.by 19.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 989,447 shares of the real estate investment trust's stock worth $13,694,000 after buying an additional 38,223 shares during the last quarter. In any case, all of New Residential's investment strategies have attractive targeted net yields of at least 12 percent. Of course, New Residential Investment can choose a combination of such measures to return more cash to shareholders.
Equity Residential is a real estate investment trust. The Company conducts its business through the segments, which include investments in excess mortgage servicing rights (MSRs), investments in servicer advances, investments in real estate securities, investments in real estate loans, investments in consumer loans and corporate. As far as I am concerned, New Residential Investment continues to be the best high-yield income vehicle on the Street.