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New Residential Investment's Series B Preferred Stock Shares Cross 9.5% Yield Mark

In trading on Tuesday, shares of New Residential Investment Corp's 7.125% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (Symbol: NRZ.PRB) were yielding above the 9.5% mark based on its quarterly dividend (annualized to $1.7812), with shares changing hands as low as $18.41 on the day. This compares to an average yield of 8.13% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, NRZ.PRB was trading at a 23.80% discount to its liquidation preference amount, versus the average premium of 32.22% in the "Real Estate" category.

The chart below shows the one year performance of NRZ.PRB shares, versus NRZ:

Performance Comparison Chart

Below is a dividend history chart for NRZ.PRB, showing historical dividend payments on New Residential Investment Corp's 7.125% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock:

NRZ.PRB+Dividend+History+Chart

In Tuesday trading, New Residential Investment Corp's 7.125% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (Symbol: NRZ.PRB) is currently up about 0.1% on the day, while the common shares (Symbol: NRZ) are up about 0.2%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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