On the last trading day of the year, I added 80 shares of New Residential Investment Corp (NYSE:NRZ) at $17.9063 per share to my dividend investing portfolio. With a dividend of 50 cents per share, my NRZ buy has a dividend yield of 11.17%. Nice!
NRZ is my second foray into dividend growth investing, as it’s among the many Dividend Aristocrat stocks that have a history of regularly raising their dividends. NRZ is a REIT like OHI, my previous Dividend Aristocrat buy, but NRZ specializes in residential real estate.
According to Zillow, the residential real estate market is expected to continue to do well next year. However, the rate of home price growth will slow but demand will still continue to exceed supply through the year.
I think NRZ is a good investment choice to end the year with and I hope it continues to grow its dividend, moving from a Dividend Challenger to a Dividend Contender.