5 High-Yield Dividend Stocks Popular on Robinhood

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

Number of Hedge Fund Holders: 19

Dividend Yield as of May 20: 9.44%

New Residential Investment Corp. (NYSE:NRZ) is an American real estate investment trust that operates through Origination, Servicing, MSR Related Investments, Residential Securities, Properties and Loans, Consumer Loans, Mortgage Loans, and Corporate segments. New Residential Investment Corp. (NYSE:NRZ) delivers a dividend yield of 9.44% as of May 20 and it is one of the top high yield dividend stocks trading on Robinhood. The company paid on April 29 a dividend of $0.25 per share for the first quarter 2022. 

On May 3, New Residential Investment Corp. (NYSE:NRZ) announced its Q1 financial results, posting an EPS of $0.37, beating market estimates by $0.02. The revenue grew 47.70% from the prior-year quarter to $1.73 billion, outperforming analysts’ predictions by almost $653 million. 

Piper Sandler analyst Kevin Barker on May 5 downgraded New Residential Investment Corp. (NYSE:NRZ) to Neutral from Overweight with an unchanged price target of $12. The analyst believes the stock is fairly valued, but he sees better opportunities to generate share returns within the mortgage origination/servicing sector that are less sensitive to rate movements.

According to Insider Monkey’s Q4 database, 19 hedge funds were long New Residential Investment Corp. (NYSE:NRZ), compared to 16 funds in the last quarter. In Q1 2022, Arrowstreet Capital reported a prominent position in the company, with 2.6 million shares worth $28.7 million.