Newcastle Investment Corp. (NCT) Upgraded by Zacks Investment Research to Hold
Newcastle Investment Corp. (NYSE:NCT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Newcastle Investment Corp invests in real estate securities and other real estate-related assets. Newcastle is organized and conducts its operations to qualify as a real estate investment trust for federal income tax purposes. “
Shares of Newcastle Investment Corp. (NYSE:NCT) opened at 4.58 on Wednesday. The company has a 50 day moving average of $4.54 and a 200-day moving average of $4.53. The company has a market cap of $305.64 million, a PE ratio of 4.19 and a beta of 1.25. Newcastle Investment Corp. has a 12-month low of $2.55 and a 12-month high of $5.04.
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Newcastle Investment Corp. (NYSE:NCT) last released its quarterly earnings results on Tuesday, August 9th. The real estate investment trust reported $0.16 earnings per share (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 company earned $0.25 earnings per share. Equities research analysts anticipate that Newcastle Investment Corp. will post $0.50 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Monday, October 24th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 10.48%. The ex-dividend date is Thursday, October 20th. Newcastle Investment Corp.’s dividend payout ratio is 44.44%.
Several institutional investors have recently made changes to their positions in the stock. Kennedy Capital Management Inc. acquired a new position in shares of Newcastle Investment Corp. during the first quarter worth $302,000. OMERS ADMINISTRATION Corp acquired a new position in shares of Newcastle Investment Corp. during the first quarter worth $112,000. 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. acquired a new position in shares of Newcastle Investment Corp. during the first quarter worth $156,000. Finally, Parametric Portfolio Associates LLC increased its position 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 worth $120,000 after buying an additional 77 shares in the last quarter. 41.93% of the stock is owned by institutional investors and hedge funds.
About Newcastle Investment Corp.
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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