Penn Mutual Life Insurance Co Sells 5,000 Shares of New Residential Investment Corp (NRZ)

Penn Mutual Life Insurance Co decreased its holdings in shares of New Residential Investment Corp (NYSE:NRZ) by 0.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 632,000 shares of the real estate investment trust’s stock after selling 5,000 shares during the period. New Residential Investment makes up approximately 7.2% of Penn Mutual Life Insurance Co’s holdings, making the stock its 6th largest position. Penn Mutual Life Insurance Co owned approximately 0.21% of New Residential Investment worth $10,580,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Alps Advisors Inc. lifted its position in New Residential Investment by 0.3% in the second quarter. Alps Advisors Inc. now owns 28,952 shares of the real estate investment trust’s stock valued at $450,000 after purchasing an additional 75 shares during the period. US Bancorp DE lifted its position in New Residential Investment by 0.6% in the second quarter. US Bancorp DE now owns 15,807 shares of the real estate investment trust’s stock valued at $245,000 after purchasing an additional 100 shares during the period. Penserra Capital Management LLC lifted its position in New Residential Investment by 8.4% in the second quarter. Penserra Capital Management LLC now owns 7,631 shares of the real estate investment trust’s stock valued at $118,000 after purchasing an additional 593 shares during the period. IFP Advisors Inc lifted its position in New Residential Investment by 9.6% in the second quarter. IFP Advisors Inc now owns 7,194 shares of the real estate investment trust’s stock valued at $112,000 after purchasing an additional 629 shares during the period. Finally, Teacher Retirement System of Texas lifted its position in shares of New Residential Investment by 4.2% during the 2nd quarter. Teacher Retirement System of Texas now owns 24,567 shares of the real estate investment trust’s stock valued at $382,000 after acquiring an additional 997 shares during the period. Institutional investors and hedge funds own 48.61% of the company’s stock.

Shares of New Residential Investment Corp (NRZ) traded down $0.05 on Thursday, hitting $17.78. 1,681,100 shares of the stock were exchanged, compared to its average volume of 3,712,291. New Residential Investment Corp has a fifty-two week low of $15.03 and a fifty-two week high of $18.00. The stock has a market cap of $5,480.25, a PE ratio of 6.30, a price-to-earnings-growth ratio of 6.67 and a beta of 1.02.

New Residential Investment (NYSE:NRZ) last issued its quarterly earnings data on Friday, October 27th. The real estate investment trust reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $291.66 million. During the same period last year, the company posted $0.51 EPS. The company’s revenue was up 72.1% on a year-over-year basis. analysts expect that New Residential Investment Corp will post 2.68 earnings per share for the current year.

A number of equities research analysts have recently issued reports on NRZ shares. Vetr upgraded shares of New Residential Investment from a “hold” rating to a “buy” rating and set a $17.75 price target for the company in a research report on Thursday, October 26th. Barclays lifted their price target on shares of New Residential Investment from $16.00 to $19.00 and gave the company an “overweight” rating in a research report on Tuesday, October 24th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $18.00 price target on shares of New Residential Investment in a research report on Thursday, September 14th. Zacks Investment Research upgraded shares of New Residential Investment from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Finally, B. Riley reiterated a “buy” rating on shares of New Residential Investment in a research report on Wednesday, November 1st. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. New Residential Investment has a consensus rating of “Buy” and a consensus price target of $18.09.

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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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