Newcastle Investment Corp. (NYSE:NCT) declared a quarterly dividend on Thursday, October 13th. Stockholders of record on Monday, October 24th will be paid a dividend of 0.12 per share by the real estate investment trust on Monday, October 31st. This represents a $0.48 annualized dividend and a dividend yield of 10.67%. The ex-dividend date is Thursday, October 20th.
Newcastle Investment Corp. (NYSE:NCT) opened at 4.50 on Friday. Newcastle Investment Corp. has a 12 month low of $2.55 and a 12 month high of $5.04. The stock has a 50 day moving average price of $4.54 and a 200 day moving average price of $4.52. The stock has a market capitalization of $300.30 million, a P/E ratio of 4.12 and a beta of 1.25.
Newcastle Investment Corp. (NYSE:NCT) last issued its quarterly earnings results on Tuesday, August 9th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period last year, the company earned $0.25 EPS. Equities analysts predict that Newcastle Investment Corp. will post $0.50 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in NCT. Parametric Portfolio Associates LLC increased its position in Newcastle Investment Corp. by 0.3% in the second quarter. Parametric Portfolio Associates LLC now owns 26,099 shares of the real estate investment trust’s stock valued at $120,000 after buying an additional 77 shares during the last quarter. Jefferies Group LLC purchased a new position in Newcastle Investment Corp. during the second quarter valued at about $4,590,000. Nuveen Fund Advisors LLC purchased a new position in Newcastle Investment Corp. during the second quarter valued at about $376,000. BlackRock Fund Advisors increased its position in Newcastle Investment Corp. by 54.0% in the second quarter. BlackRock Fund Advisors now owns 1,515,850 shares of the real estate investment trust’s stock valued at $6,958,000 after buying an additional 531,310 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Newcastle Investment Corp. by 2.3% in the second quarter. Vanguard Group Inc. now owns 4,048,759 shares of the real estate investment trust’s stock valued at $18,584,000 after buying an additional 89,510 shares during the last quarter. 41.92% of the stock is currently owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research downgraded Newcastle Investment Corp. from a “hold” rating to a “sell” rating in a research report on Friday, September 16th.
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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