Newcastle Investment Corp. (NCT) Sees Strong Trading Volume
Newcastle Investment Corp. (NYSE:NCT) saw an uptick in trading volume on Tuesday . 267,216 shares were traded during trading, an increase of 30% from the previous session’s volume of 205,899 shares.The stock last traded at $4.61 and had previously closed at $4.65.
Separately, Zacks Investment Research downgraded Newcastle Investment Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, August 11th.
The firm’s 50-day moving average is $4.68 and its 200-day moving average is $4.27. The stock has a market cap of $304.61 million and a price-to-earnings ratio of 3.51.
Newcastle Investment Corp. (NYSE:NCT) last posted its earnings results on Tuesday, August 9th. The real estate investment trust reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.02. During the same period last year, the business posted $0.25 earnings per share. Analysts expect that Newcastle Investment Corp. will post $0.50 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Friday, July 22nd were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 10.50%. The ex-dividend date of this dividend was Wednesday, July 20th.
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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