Bank of New York Mellon Corp decreased its position in Newcastle Investment Corp. (NYSE:NCT) by 0.2% during the second quarter, Holdings Channel reports. The institutional investor owned 550,373 shares of the real estate investment trust’s stock after selling 877 shares during the period. Bank of New York Mellon Corp owned about 0.83% of Newcastle Investment Corp. worth $2,526,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the company. Punch & Associates Investment Management Inc. increased its position in shares of Newcastle Investment Corp. by 10.8% in the second quarter. Punch & Associates Investment Management Inc. now owns 3,356,368 shares of the real estate investment trust’s stock worth $15,406,000 after buying an additional 326,708 shares in the last quarter. Kennedy Capital Management Inc. purchased a new position in shares of Newcastle Investment Corp. during the first quarter worth $302,000. Menta Capital LLC increased its position in shares of Newcastle Investment Corp. by 37.4% in the first quarter. Menta Capital LLC now owns 138,162 shares of the real estate investment trust’s stock worth $598,000 after buying an additional 37,600 shares in the last quarter. BlackRock Institutional Trust Company N.A. purchased a new position in shares of Newcastle Investment Corp. during the first quarter worth $156,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of Newcastle Investment Corp. during the first quarter worth $112,000. 41.92% of the stock is owned by institutional investors and hedge funds.
Newcastle Investment Corp. (NYSE:NCT) remained flat at $4.53 during midday trading on Monday. 44,711 shares of the company’s stock were exchanged. Newcastle Investment Corp. has a 52 week low of $2.55 and a 52 week high of $5.04. The stock has a market cap of $302.31 million, a PE ratio of 4.15 and a beta of 1.25. The company has a 50-day moving average price of $4.57 and a 200-day moving average price of $4.50.
Newcastle Investment Corp. (NYSE:NCT) last issued its quarterly earnings results on Tuesday, August 9th. The real estate investment trust reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.02. Newcastle Investment Corp. had a return on equity of 15.50% and a net margin of 93.85%. During the same quarter in the prior year, the business posted $0.25 earnings per share. Equities research analysts forecast that Newcastle Investment Corp. will post $0.50 EPS for the current fiscal year.
Separately, Zacks Investment Research raised shares of Newcastle Investment Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 24th.
Newcastle Investment Corp. Company Profile
Newcastle Investment Corp. (Newcastle) is a real estate investment trust (REIT). The Company focuses on investing in, and managing, a range of real estate related and other investments. The Company’s segments include debt investments financed with collateralized debt obligations (CDOs), other debt investments (Other Debt), investment in golf properties and facilities (Golf) and corporate.
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