5 Cheap Dividend Stocks that Will Help You Retire Before 40

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

Number of Hedge Fund Holders: 20
Dividend Yield: 8.42%

Stock Price as of August 23: $9.70

New Residential Investment Corp. (NYSE: NRZ) is a real estate investment trust that primarily works to invest in and manage residential mortgage-related assets in the US. The company ranks 3rd on our list of cheap dividend stocks that will help you retire before 40 and operates through its Origination, Servicing, MSR Related Investments, Residential Securities and Loan, and Consumer Loans segments.

Kevin Barker, an analyst at Piper Sandler, just this April raised his price target on shares of New Residential Investment Corp. (NYSE: NRZ) from $11.50 to $13. The analyst also reiterated an Overweight rating on the stock.

In the second quarter of 2021, New Residential Investment Corp. (NYSE: NRZ) had an FFO of $0.31, beating estimates by $0.01. The company’s revenue was $454.05 million, up 0.51% year over year but missing estimates by $181.15 million. New Residential Investment Corp. (NYSE: NRZ) has gained 0.21% year to date and 20.87% in the past year.

By the end of the second quarter of 2021, 20 hedge funds out of the 873 tracked by Insider Monkey held stakes in New Residential Investment Corp. (NYSE: NRZ) worth roughly $129 million. This is compared to 15 hedge funds in the previous quarter with a total stake value of approximately $84.8 million.