On August 22, 2018, I bought 27 shares of New Residential Investment Corp (NRZ ) at $18.47 per share. With its quarterly dividend payout of 0.5 dollars per share, this latest buy has a dividend yield of 10.82% and will pay me $13.5 every quarter. Awesome!
NRZ has been on my stock watchlist for a couple of months already, first discovered on dividendquest.com.
There are two simple reasons I like this stock - it has a nice yield of 10% and it has increased the dividend payout for the past 4 consecutive years. Not quite an dividend aristocrat but still good. Another reason I like this stock, it has a dividend payments in January, April, July, and October.
New Residential Investment Corp NYSE: NRZ
NRZ currently is trading close to all-time height.
Now, I bought this stock close to its 52 weeks high and it worries me a little bit. As they say, we have been in the 9-year bulls market, and things could go south anytime soon. On the other hand, my investment is rather small to worry much about. Time will show.
For the rest of the year, I'm looking to get a dividend income of $13.5 from this stock, which is about 1.1% from my $1,200 goal for 2018.
About New Residential Investment Corp. (NYSE: NRZ
New Residential Investment Corp. (NYSE: NRZ) is a publicly traded real estate investment trust (“REIT”) that focuses on investing in, and actively managing, investments primarily related to residential real estate.
We aim to drive strong risk-adjusted returns primarily through investments in (i) Excess Mortgage Servicing Rights ("MSRs"), (ii) Servicer Advances, (iii) non-Agency residential mortgage backed securities ("RMBS") and associated call rights.
Our objective is to leverage our proven investment expertise to deliver attractive returns that will help drive strong and growing dividends to our shareholders. We target assets that generate stable long term cash flows and employ conservative capital structures to generate returns throughout different interest rate environments.
Over the last few decades the complexity of the market for residential mortgage loans in the U.S. has dramatically increased. We believe that unfolding developments in the approximately $21 trillion U.S. residential housing market are generating significant investment opportunities. For example, in the aftermath of the U.S. financial crisis, the residential mortgage industry is undergoing major structural changes that are transforming the way mortgages are originated, owned and serviced. These changes are creating a compelling set of investment opportunities. We believe that New Residential is one of only a select number of market participants that have the combination of capital, industry experience and key business relationships we think are necessary to take advantage of this opportunity.
New Residential was formed as a wholly owned subsidiary of Newcastle Investment Corp. We were subsequently spun off as a separate publicly-traded entity on May 15, 2013. We are externally managed and advised by an affiliate of Fortress Investment Group LLC and benefit from the resources of a highly diversified global alternative investment manager.