Newcastle Investment Corp. (NCT) Forecasted to Earn FY2016 Earnings of $1.32 Per Share
Newcastle Investment Corp. (NYSE:NCT) – Equities research analysts at Imperial Capital issued their FY2016 earnings per share estimates for shares of Newcastle Investment Corp. in a report released on Tuesday. Imperial Capital analyst G. Kelly forecasts that the brokerage will earn $1.32 per share for the year. Imperial Capital has a “In-Line” rating and a $4.50 price objective on the stock. Imperial Capital also issued estimates for Newcastle Investment Corp.’s Q4 2016 earnings at ($0.03) EPS, Q1 2017 earnings at ($0.10) EPS, Q2 2017 earnings at $0.03 EPS, Q3 2017 earnings at ($0.01) EPS, Q4 2017 earnings at ($0.03) EPS and FY2017 earnings at ($0.11) EPS.
Separately, Zacks Investment Research upgraded shares of Newcastle Investment Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, October 19th.
Shares of Newcastle Investment Corp. (NYSE:NCT) opened at 4.55 on Thursday. Newcastle Investment Corp. has a 12 month low of $2.55 and a 12 month high of $4.88. The firm has a market cap of $303.64 million, a price-to-earnings ratio of 4.17 and a beta of 1.23. The firm has a 50-day moving average of $4.48 and a 200-day moving average of $4.55.
Newcastle Investment Corp. (NYSE:NCT) last issued its earnings results on Friday, November 4th. The real estate investment trust reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.29. Newcastle Investment Corp. had a net margin of 97.72% and a return on equity of 23.34%. The firm had revenue of $83.16 million for the quarter, compared to analyst estimates of $4.84 million. During the same quarter last year, the business posted $0.25 earnings per share. The company’s quarterly revenue was up .4% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 31st. Investors of record on Monday, October 24th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 10.55%. The ex-dividend date of this dividend was Thursday, October 20th. Newcastle Investment Corp.’s payout ratio is currently 38.10%.
Several hedge funds have recently made changes to their positions in NCT. Parametric Portfolio Associates LLC boosted 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 worth $120,000 after buying an additional 77 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in Newcastle Investment Corp. during the third quarter worth $148,000. First Trust Advisors LP purchased a new stake in Newcastle Investment Corp. during the third quarter worth $151,000. Sheaff Brock Investment Advisors LLC raised its stake in Newcastle Investment Corp. by 107.5% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 33,803 shares of the real estate investment trust’s stock worth $155,000 after buying an additional 17,512 shares during the period. Finally, Shikiar Asset Management Inc. raised its stake in Newcastle Investment Corp. by 3.0% in the third quarter. Shikiar Asset Management Inc. now owns 47,900 shares of the real estate investment trust’s stock worth $217,000 after buying an additional 1,400 shares during the period. Institutional investors own 42.48% of the company’s stock.
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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