Newcastle Investment Corp. (NYSE:NCT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Friday.
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. “
Newcastle Investment Corp. (NYSE:NCT) traded down 0.66% on Friday, hitting $4.51. 496,353 shares of the company’s stock traded hands. The stock has a market cap of $300.97 million, a P/E ratio of 4.13 and a beta of 1.42. Newcastle Investment Corp. has a 12 month low of $2.55 and a 12 month high of $5.23. The stock has a 50 day moving average price of $4.62 and a 200-day moving average price of $4.45.
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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 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.02. Newcastle Investment Corp. had a net margin of 93.85% and a return on equity of 15.50%. During the same quarter in the previous year, the business posted $0.25 EPS. Equities analysts predict that Newcastle Investment Corp. will post $0.50 earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. OMERS ADMINISTRATION Corp bought a new position in shares of Newcastle Investment Corp. during the first quarter worth about $112,000. 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 during the period. Sheaff Brock Investment Advisors LLC increased its position in shares of 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. BlackRock Institutional Trust Company N.A. bought a new position in shares of Newcastle Investment Corp. during the first quarter worth about $156,000. Finally, Kennedy Capital Management Inc. bought a new position in shares of Newcastle Investment Corp. during the first quarter worth about $302,000. 41.92% of the stock is owned by hedge funds and other institutional investors.
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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