5 Best Dividend Stocks on Robinhood

2. New Residential Investment Corp. (NYSE:NRZ)

Number of Hedge Fund Holders: 19
Dividend Yield as of June 6: 9.84%

New Residential Investment Corp. (NYSE:NRZ) is an American real estate investment trust that mainly maintains investments comprised of mortgage servicing rights and related segments.

New Residential Investment Corp. (NYSE:NRZ) currently pays a quarterly dividend of $0.25 per share, growing it by 25% in 2021. The stock’s dividend yield, as of June 6, stood at 9.84%. In May, Piper Sandler analyst Kevin Barker mentioned in his investors’ note that New Residential Investment Corp. (NYSE:NRZ) is fairly valued and is expected to deliver more within the mortgage and servicing sector. The analyst set a $12 price target on the stock while downgrading the stock to Neutral.

In Q1 2022, New Residential Investment Corp. (NYSE:NRZ) posted an EPS of $0.37, beating the consensus by $0.02. During the quarter, the company also saw its book value climb by 10% to $12.56 per share and expects further growth in the second quarter.

As per Insider Monkey’s Q1 2022 database, 19 hedge funds held stakes in New Residential Investment Corp. (NYSE:NRZ), the same as in the previous quarter. The consolidated value of these stakes is over $57.6 million. Arrowstreet Capital owned the largest stake in the New York-based company in Q1 2022, worth over $28.7 million.