Actionable news
0
All posts from Actionable news
Actionable news in NRZ: NEW RESIDENTIAL INVESTMENT CORP,

New Residential Investment Corp.: This 15% Yielder Is Not Getting Enough Credit

New Residential released Q3-15 results on Tuesday.

The REIT reported record core earnings of $113 million, $0.49 per share.

Core earnings covered New Residential's new quarterly dividend of $0.46 per share.

The REIT is lowly valued on an accounting book value basis.

NRZ yields a whopping 14.83%.

I have bought New Residential Investment Corp. (NYSE:NRZ) for my $100,000 high-yield income portfolio in February. Since then the real estate investment trust has increased its quarterly dividend payout twice: In July 2015, New Residential Investment Corp. raised its dividend from $0.38 to $0.45 per share, and raised it yet another penny per share at the end of October. Based on New Residential's new dividend of $0.46 per share, the REIT has a whopping forward annualized dividend yield of 14.83% -- not too shabby, even for a mortgage investment company.

New Residential's stock, on the other hand, has not been doing too well in 2015. The stock has been up sharply in the second quarter of this year on the back of the Home Loan Servicing Solutions...


More