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Sep 30 2018

My Latest Stock Buy: NRZ

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On September 7th, I bought 70 additional shares of New Residential Investment Corp (NYSE:NRZ) at $18.4552 per share. With its quarterly dividend of 50 cents per share, this newest buy has a dividend yield of 10.84% and will pay $35.00 every quarter. Nice!

Since my last NRZ buy in April, analyst opinion of NRZ is unchanged. According to the Analysts page of Yahoo Finance, analysts seem quite upbeat about NRZ. Of the 8 analysts, only one says ‘Hold’ and the others are ‘Buy’ (5) and ‘Strong Buy’ (2). Obviously analyst opinions should always be taken with a grain of salt, but still the general view about NRZ seems quite positive.

For the past several years NRZ has had a track record of raising its dividend, but this late in the year I doubt a dividend increase will happen. Maybe in 2019 the dividend will get dialed up a little. That would help mitigate some of the damage from dividend cuts my dividend income portfolio regularly suffers every year.

Image Credits: PublicDomainPictures (shopper, money), (pixabay.com); NYSE logo © New York Stock Exchange

 

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