Newcastle Investment Corp. (NYSE:NCT)’s share price traded down 2.6% during mid-day trading on Thursday . The stock traded as low as $4.51 and last traded at $4.51, with a volume of 158,786 shares changing hands. The stock had previously closed at $4.63.

Separately, Zacks Investment Research downgraded shares of Newcastle Investment Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, May 11th.

The firm’s 50 day moving average is $4.57 and its 200 day moving average is $4.07. The stock has a market capitalization of $301.94 million and a P/E ratio of 3.48.

Newcastle Investment Corp. (NYSE:NCT) last issued its quarterly earnings results on Tuesday, May 10th. The real estate investment trust reported $1.21 EPS for the quarter, beating the consensus estimate of $0.13 by $1.08. During the same quarter in the prior year, the company earned $0.12 EPS. On average, analysts forecast that Newcastle Investment Corp. will post $0.50 EPS for the current fiscal year.

A hedge fund recently raised its stake in Newcastle Investment Corp. stock. GSA Capital Partners LLP raised its stake in Newcastle Investment Corp. (NYSE:NCT) by 38.9% during the fourth quarter, Holdings Channel reports. The fund owned 413,247 shares of the real estate investment trust’s stock after buying an additional 115,770 shares during the period. GSA Capital Partners LLP owned approximately 0.62% of Newcastle Investment Corp. worth $1,686,000 at the end of the most recent reporting period.

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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