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NRZ - New Residential: 100% Dividend Raise Upside Potential
New Residential Investment Corp.
Article Thesis
Following a rough first quarter, during which New Residential (NRZ) cut its dividend by 90%, the company recently doubled its dividend. This provides a solid, although not spectacular dividend yield for those buying at today's price.
New Residential remains a company with substantial risk exposure, but the valuation remains quite low, and it looks like there is a lot of upside potential if things go right over the coming quarters. It also would not be too much of a surprise to see more dividend increases in the foreseeable future.