Newcastle Investment Corp. (NCT) Declares $0.12 Quarterly Dividend
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 dividend on an annualized basis and a dividend yield of 10.67%. The ex-dividend date of this dividend is Thursday, October 20th.
Shares of Newcastle Investment Corp. (NYSE:NCT) opened at 4.50 on Friday. The firm has a market cap of $300.30 million, a price-to-earnings ratio of 4.12 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. The company has a 50 day moving average of $4.54 and a 200-day moving average of $4.52.
Newcastle Investment Corp. (NYSE:NCT) last issued its earnings results on Tuesday, August 9th. The real estate investment trust reported $0.16 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 quarter in the previous year, the firm posted $0.25 earnings per share. Analysts predict that Newcastle Investment Corp. will post $0.50 EPS for the current year.
Separately, Zacks Investment Research upgraded shares of Newcastle Investment Corp. from a “sell” rating to a “hold” rating in a research report on Saturday, September 10th.
A number of institutional investors have recently modified their holdings of NCT. Parametric Portfolio Associates LLC boosted 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 during the last quarter. Nuveen Fund Advisors LLC acquired a new position in shares of Newcastle Investment Corp. during the second quarter worth approximately $376,000. Jefferies Group LLC acquired a new position in shares of Newcastle Investment Corp. during the second quarter worth approximately $4,590,000. BlackRock Fund Advisors boosted its position 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 worth $6,958,000 after buying an additional 531,310 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position 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 worth $18,584,000 after buying an additional 89,510 shares during the last quarter. Institutional investors own 41.92% of the company’s stock.
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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