By Marc Lichtenfeld Today, Investment U’s Income Expert, Marc Lichtenfeld, takes a look at New Residential Investment Corp’s dividend safety.
New Residential Investment Corp. (NYSE: NRZ) used to be a favorite with dividend investors. As of December, it paid a whopping 12.4% yield and its short track record of paying dividends was solid. It had raised the dividend five times since 2013.
Then, the pandemic occurred. Shares of the mortgage real estate investment trust (REIT) fell from a high of $17.66 to a low of $2.91. Today, it trades around $8, less than half of where it was in February.
Perhaps even more upsetting to income …read more
