Newcastle Investment Corp. (NCT) Plans Quarterly Dividend of $0.12
Newcastle Investment Corp. (NYSE:NCT) announced a quarterly dividend on Thursday, October 13th. Investors of record on Monday, October 24th will be given 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%.
Newcastle Investment Corp. (NYSE:NCT) traded down 0.66% during midday trading on Thursday, hitting $4.50. 132,928 shares of the company traded hands. Newcastle Investment Corp. has a 12-month low of $2.55 and a 12-month high of $5.04. The stock’s 50-day moving average is $4.54 and its 200-day moving average is $4.52. The firm has a market capitalization of $300.30 million, a PE ratio of 4.12 and a beta of 1.25.
Newcastle Investment Corp. (NYSE:NCT) last posted its quarterly earnings results on Tuesday, August 9th. The real estate investment trust reported $0.16 earnings per share 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 company earned $0.25 EPS. Analysts anticipate that Newcastle Investment Corp. will post $0.50 EPS for the current fiscal year.
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A number of large investors have recently modified their holdings of the stock. Parametric Portfolio Associates LLC increased its stake in shares of 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. Nuveen Fund Advisors LLC purchased a new stake in shares of Newcastle Investment Corp. during the second quarter valued at approximately $376,000. Jefferies Group LLC purchased a new stake in shares of Newcastle Investment Corp. during the second quarter valued at approximately $4,590,000. BlackRock Fund Advisors increased its stake in shares of 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 stake in shares of 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 owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research downgraded shares of Newcastle Investment Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd.
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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