California Public Employees Retirement System Raises Stake in Newcastle Investment Corp. (NCT)
California Public Employees Retirement System increased its stake in Newcastle Investment Corp. (NYSE:NCT) by 36.0% during the second quarter, Holdings Channel reports. The institutional investor owned 211,099 shares of the real estate investment trust’s stock after buying an additional 55,900 shares during the period. California Public Employees Retirement System owned approximately 0.32% of Newcastle Investment Corp. worth $969,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. OMERS ADMINISTRATION Corp bought a new stake in Newcastle Investment Corp. during the first quarter valued at approximately $112,000. BlackRock Institutional Trust Company N.A. bought a new stake in Newcastle Investment Corp. during the first quarter valued at approximately $156,000. Kennedy Capital Management Inc. bought a new stake in Newcastle Investment Corp. during the first quarter valued at approximately $302,000. Menta Capital LLC boosted its stake in 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 valued at $598,000 after buying an additional 37,600 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. boosted its stake in Newcastle Investment Corp. by 10.8% in the second quarter. Punch & Associates Investment Management Inc. now owns 3,356,368 shares of the real estate investment trust’s stock valued at $15,406,000 after buying an additional 326,708 shares in the last quarter. Institutional investors and hedge funds own 41.93% of the company’s stock.
Newcastle Investment Corp. (NYSE:NCT) traded down 0.66% during mid-day trading on Wednesday, hitting $4.55. 26,109 shares of the company traded hands. The company has a market capitalization of $303.64 million, a price-to-earnings ratio of 4.17 and a beta of 1.25. The company’s 50-day moving average price is $4.54 and its 200 day moving average price is $4.53. Newcastle Investment Corp. has a one year low of $2.55 and a one year high of $5.04.
Newcastle Investment Corp. (NYSE:NCT) last announced its quarterly earnings data on Tuesday, August 9th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ 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 period in the prior year, the firm earned $0.25 EPS. On average, analysts anticipate that Newcastle Investment Corp. will post $0.50 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Monday, October 24th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, October 20th. This represents a $0.48 annualized dividend and a yield of 10.48%. Newcastle Investment Corp.’s dividend payout ratio is currently 44.44%.
Separately, Zacks Investment Research upgraded shares of Newcastle Investment Corp. from a “sell” rating to a “hold” rating in a report on Wednesday.
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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