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NRZ - New Residential Investment Corp.: Consolidating Before Taking Off
New Residential Investment Corp.
After reporting a COVID-induced net loss of $1.6 billion in the quarter ended March 2020, New Residential Investment Corp. has consolidated its business and is clawing its way forward.
Macroeconomic factors like increasing spreads, low-interest rates, increasing employment after the stimulus, effective COVID-19 vaccines, etc., have improved the business for residential mortgage REITs (mREITs).
The company’s forward dividend yield is about 7.5% and its payouts are likely to pick up as prospects improve.