5 Cheap Dividend Stocks to Buy Now

4. New Residential Investment Corp (NYSE:NRZ)

Number of Hedge Fund Holders: 16

Dividend Yield: 8.80%

Share Price as of November 16: $11.40

New Residential Investment Corp. (NYSE:NRZ), another REIT among the 10 cheap dividend stocks to buy now, focuses on investing in and managing residential mortgage-related assets in the United States. It operates through five segments: Origination, Servicing, MSR Related Investments, Residential Securities and Loans, and Consumer Loans. New Residential Investment Corp. (NYSE:NRZ) was founded in 2011 and is based in New York, New York.

On September 29th, Barclays analyst Mark DeVries reinstated coverage of New Residential Investment Corp (NYSE:NRZ) and assigned it an Overweight rating with a $13 price target. The company has increased its dividend for 2 years consecutively and currently pays an annual dividend of $1.00 per share of stock, bringing its yield to 8.80%.

At Insider Monkey we track data for 867 hedge funds, out of which 16 held stakes in the company by the end of the third quarter of 2021. The total value of these stakes was $93.06 million.

Arrowstreet Capital is currently the largest stakeholder in New Residential Investment Corp. (NYSE:NRZ). As of September 30th, the fund’s stake in the company is roughly $25.5 million.