New Residential Investment Corp (NYSE:NRZ) declared a quarterly dividend on Monday, December 18th, RTT News reports. Investors of record on Friday, December 29th will be given a dividend of 0.50 per share by the real estate investment trust on Tuesday, January 30th. This represents a $2.00 dividend on an annualized basis and a yield of 10.94%.

New Residential Investment has raised its dividend payment by an average of 55.4% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. New Residential Investment has a dividend payout ratio of 74.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect New Residential Investment to earn $2.19 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 91.3%.

Shares of New Residential Investment (NRZ) traded down $0.01 during midday trading on Monday, reaching $18.28. 2,416,680 shares of the company’s stock traded hands, compared to its average volume of 3,667,264. New Residential Investment has a 1 year low of $15.03 and a 1 year high of $18.43. The firm has a market cap of $5,620.00, a PE ratio of 6.46, a P/E/G ratio of 6.84 and a beta of 1.02.

New Residential Investment (NYSE:NRZ) last announced its quarterly earnings results on Friday, October 27th. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.08. New Residential Investment had a net margin of 60.06% and a return on equity of 19.38%. The firm had revenue of $331.38 million during the quarter, compared to analysts’ expectations of $291.66 million. During the same period in the prior year, the company posted $0.51 EPS. The company’s revenue was up 72.1% on a year-over-year basis. equities research analysts expect that New Residential Investment will post 2.68 earnings per share for the current fiscal year.

Several equities analysts have issued reports on NRZ shares. Piper Jaffray Companies restated a “buy” rating and issued a $18.00 price target on shares of New Residential Investment in a research report on Sunday, August 27th. Vetr upgraded shares of New Residential Investment from a “hold” rating to a “buy” rating and set a $17.14 price target for the company in a research report on Wednesday, September 6th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $18.00 price target on shares of New Residential Investment in a research report on Thursday, September 14th. ValuEngine cut shares of New Residential Investment from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 15th. Finally, FBR & Co restated a “buy” rating and issued a $17.50 price target on shares of New Residential Investment in a research report on Monday, October 9th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $18.09.

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About New Residential Investment

New Residential Investment Corp. is a real estate investment trust (REIT). The Company focuses on investing in, and managing, investments related to residential real estate. The Company’s segments include investments in excess mortgage servicing rights (Excess MSRs); investments in mortgage servicing rights (MSRs); investments in servicer advances; investments in real estate securities; investments in residential mortgage loans; investments in consumer loans, and corporate.

Dividend History for New Residential Investment (NYSE:NRZ)

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