Aviance Capital Management Lowers stake in New Residential Investment Corp (NRZ)

New Residential Investment Corp (NRZ) : Aviance Capital Management reduced its stake in New Residential Investment Corp by 6.48% during the most recent quarter end. The investment management company now holds a total of 1,286,644 shares of New Residential Investment Corp which is valued at $17,318,228 after selling 89,137 shares in New Residential Investment Corp , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.New Residential Investment Corp makes up approximately 0.52% of Aviance Capital Management’s portfolio.

Other Hedge Funds, Including , Cibc World Markets added NRZ to its portfolio by purchasing 16,716 company shares during the most recent quarter which is valued at $225,499. Acadian Asset Management sold out all of its stake in NRZ during the most recent quarter. The investment firm sold 15,670 shares of NRZ which is valued $211,075.Advocacy Wealth Management Services boosted its stake in NRZ in the latest quarter, The investment management firm added 5,101 additional shares and now holds a total of 12,155 shares of New Residential Investment Corp which is valued at $161,054. New Residential Investment Corp makes up approx 0.08% of Advocacy Wealth Management Services’s portfolio.Creative Planning boosted its stake in NRZ in the latest quarter, The investment management firm added 2,508 additional shares and now holds a total of 35,490 shares of New Residential Investment Corp which is valued at $470,597.

New Residential Investment Corp opened for trading at $13.6 and hit $13.67 on the upside on Friday, eventually ending the session at $13.67, with a gain of 0.81% or 0.11 points. The heightened volatility saw the trading volume jump to 17,87,683 shares. Company has a market cap of $3,151 M.

On the company’s financial health, New Residential Investment Corp reported $0.49 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on May 4, 2016. Analyst had a consensus of $0.50.Analysts expectations of $ 138.01.During the same quarter in the previous year, the company posted $0.44 EPS.

Many Wall Street Analysts have commented on New Residential Investment Corp. Compass Point Downgraded New Residential Investment Corp on May 18, 2016 to ” Neutral”, Price Target of the shares are set at $15.

New Residential Investment Corp. (New Residential) is a publicly traded real estate investment trust. The Company is focused on investing and managing residential real estate investments. Its portfolio consists of servicing related assets residential securities and loans and other investments. Its business segments include: Excess Mortgage Servicing Rights (Excess MSRs) Servicer Advances Real Estate Securities Real Estate Loans Consumer Loans and Corporate. It has acquired Excess MSRs on residential mortgage loans with an aggregate unpaid principal balance (UPB) as of December 31 2014 of approximately $248.7 billion. It acquires and manages a portfolio of credit sensitive real estate securities including Non-Agency and Agency residential mortgage backed securities (RMBS). It has acquired residential mortgage loans including performing non-performing re-performing and reverse mortgage loans.

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