Too high of a dividend yield for New Residential

Newcastle Investment (NCT) spinoff New Residential (NRZ) soars 6.9% premarket after declaring its first full quarterly dividend of $0.175 per share for a 10.95% yield (based on last night's close).

Nearly 11% is a whopper of a yield considering peers like Redwood (RWT), HLSS, and Pennymac (PMT) are in the 5-10% range.

Comments (4)
  • Javimanic
    , contributor
    Comments (293) | Send Message
    18 Sep 2013, 09:26 AM Reply Like
  • joelkatz
    , contributor
    Comments (570) | Send Message
    Kudos to the Board Members, they deserve an ovation from us investors.
    18 Sep 2013, 09:42 AM Reply Like
  • Javimanic
    , contributor
    Comments (293) | Send Message
    how about NCT though?
    18 Sep 2013, 11:30 AM Reply Like
  • ChrisTesta
    , contributor
    Comments (137) | Send Message
    Has the poster bothered to realize how different all the companies listed are? My guess is no, and to use yield for comps on such different companies is not exactly a great means of valuation.
    19 Sep 2013, 09:10 AM Reply Like
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