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XLF - 18%-Yielding New Residential: Buy And Make Out Like A Bandit
SPDR Select Sector Fund - Financial
Article Thesis
New Residential (NRZ) sold off massively over the past two weeks, as investors are dumping anything that is related to high-yield investments, mortgages, etc. Declining interest rates can be a headwind for some companies in the space, and New Residential is not completely immune, but the sell-off is way overdone. It looks like investors can buy New Residential way below book value right here, and thanks to a massive dividend yield the total return outlook is attractive, I believe.