5 Cheap Dividend Stocks with Over 6% Yield

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

Dividend Yield as of June 26: 10.18%
Share Price as of June 26: $9.82

New Residential Investment Corp. (NYSE:NRZ) is an American mortgage-based real estate investment trust that provides mortgage servicing rights and related investment services to consumers. In Q1 2022, the company reported a 10% growth in its book value per share to $12.56. Its gross revenue for the quarter came in at $1.73 billion, showing a 47.7% year-over-year growth.

At the end of Q1 2022, 19 hedge funds in Insider Monkey’s database owned stakes in New Residential Investment Corp. (NYSE:NRZ), valued at $57.6 million. In comparison, 19 hedge funds held positions in the company in the previous quarter, with stakes worth over $80.8 million.

On June 17, New Residential Investment Corp. (NYSE:NRZ) declared a quarterly dividend of $0.25 per share, consistent with its previous dividend. The stock’s dividend yield was recorded at 10.18% on June 26. Keefe Bruyette mentioned New Residential Investment Corp. (NYSE:NRZ) in its June investors’ note, expecting the company’s book value to increase in Q2. The firm raised its price target on the stock to $14.25, while maintaining an Outperform rating on the shares.