On March 23, I bought 100 additional shares of New Residential Investment Corp (NYSE:NRZ) at $16.65 per share. With its quarterly dividend of 50 cents per share, this newest buy has a dividend yield of 12.01% and will pay $50.00 every quarter. Very nice!
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 is positive.
For the past several years NRZ has had a track record of raising its dividend, so I hope that sometime this year its dividend will be nudged up a bit. That would help mitigate some of the damage from dividend cuts my dividend income has suffered this year.
