The short-term stake in New Residential Investment Corp. (NYSE:NRZ) rises 27.0%

New Residential Investment Corp. (NYSE:NRZ- Get a rating) was the target of significant short-term interest growth in June. As of June 30, there was short interest totaling 12,740,000 shares, a growth of 27.0% from the total of 10,030,000 shares as of June 15. Based on an average daily volume of 6,530,000 shares, the day-to-cover ratio is currently 2.0 days.

Institutional Negotiation of New Residential Investments

A number of large investors have recently changed their holdings in the company. M&R Capital Management Inc. increased its equity stake in New Residential Investment by 2.6% in Q1. M&R Capital Management Inc. now owns 39,120 shares of the real estate investment trust worth $429,000 after acquiring an additional 1,000 shares during the period. Fort Sheridan Advisors LLC increased its position in new residential investment by 0.9% in the 1st quarter. Fort Sheridan Advisors LLC now owns 118,418 shares of the real estate investment trust valued at $1,300,000 after buying an additional 1,000 shares last quarter. Mercer Global Advisors Inc. ADV increased its position in new residential investment by 2.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 38,327 shares of the real estate investment trust worth $410,000 after purchasing an additional 1,010 shares in the last quarter. Catalyst Capital Advisors LLC increased its position in new residential investments by 6.8% in the fourth quarter. Catalyst Capital Advisors LLC now owns 16,100 shares of the real estate investment trust valued at $172,000 after buying an additional 1,020 shares in the last quarter. Finally, Belpointe Asset Management LLC increased its position in new residential investment by 2.7% in the 1st quarter. Belpointe Asset Management LLC now owns 43,334 shares of the real estate investment trust valued at $476,000 after buying 1,157 additional shares last quarter. Institutional investors and hedge funds hold 46.48% of the company’s shares.

Stock of new residential investment up 2.9%

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NYSE:NRZ shares opened at $10.04 on Wednesday. The stock has a market capitalization of $4.69 billion, a price-earnings ratio of 4.44 and a beta of 1.67. The new residential investment has a 1-year low of $8.18 and a 1-year high of $11.81. The company’s fifty-day moving average is $10.16 and its two hundred-day moving average is $10.46. The company has a debt ratio of 0.09, a quick ratio of 0.44 and a current ratio of 0.44.

New Residential Investment (NYSE:NRZ – Get a rating) last released its quarterly earnings data on Tuesday, May 3. The real estate investment trust reported earnings per share of $0.37 for the quarter, beating analysts’ consensus estimate of $0.35 by $0.02. New Residential Investments generated a net margin of 28.82% and a return on equity of 13.84%. During the same period a year earlier, the company posted EPS of $0.34. Equity analysts expect new residential investments to post EPS of 1.21 for the current year.

New announcement of dividends on residential investments

The company also recently announced a quarterly dividend, which will be paid on Friday, July 29. Investors of record on Friday, July 1 will receive a dividend of $0.25. The ex-dividend date is Thursday, June 30. This represents a dividend of $1.00 on an annualized basis and a dividend yield of 9.96%. The dividend payout ratio (DPR) of New Residential Investment is currently 44.25%.

Wall Street analysts predict growth

Several research analysts have recently weighed in on NRZ shares. StockNews.com upgraded shares of New Residential Investment from a “hold” rating to a “buy” rating in a Monday, May 9 research note. Raymond James raised his price target on shares of New Residential Investment from $13.00 to $13.50 and gave the company an “outperform” rating in a Tuesday, March 29 research note. Finally, Piper Sandler cut shares of New Residential Investment from a “neutral” rating to an “underweight” rating and lowered her price target for the company from $12.00 to $10.00 in a report. Monday, June 13. One financial analyst gave the stock a sell rating and seven gave the company a buy rating. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.20.

About new residential investment

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New Residential Investment Corp. operates as a real estate investment trust in the United States. It operates through Origination, Servicing, MSR Related Investments, Residential Securities, Properties and Loans, Consumer Loans, Mortgage Loans and Corporate segments. The Company invests in mortgage servicing rights, mortgage origination and servicing companies, residential mortgage-backed securities, property and loans, consumer loans and other opportunistic investments.

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