Newcastle Investment Corp. (NCT) : Punch Associates Investment Management scooped up 326,708 additional shares in Newcastle Investment Corp. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 15, 2016. The investment management firm now holds a total of 3,356,368 shares of Newcastle Investment Corp. which is valued at $15,741,366.Newcastle Investment Corp. makes up approximately 1.75% of Punch Associates Investment Management’s portfolio.
Other Hedge Funds, Including , First Manhattan Co added NCT to its portfolio by purchasing 2,000 company shares during the most recent quarter which is valued at $9,380.Creative Planning reduced its stake in NCT by selling 11 shares or 0.07% in the most recent quarter. The Hedge Fund company now holds 14,741 shares of NCT which is valued at $69,430.
Newcastle Investment Corp. opened for trading at $4.7 and hit $4.75 on the upside on Monday, eventually ending the session at $4.69, with a gain of 0.64% or 0.03 points. The heightened volatility saw the trading volume jump to 3,85,888 shares. Company has a market cap of $313 M.
On the company’s financial health, Newcastle Investment Corp. reported $0.05 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on May 10, 2016. Analyst had a consensus of $0.10.During the same quarter in the previous year, the company posted $0.12 EPS.
Newcastle Investment Corp. (Newcastle) is a real estate investment trust (REIT). The Company focuses on investing in and managing a variety of real estate related and other investments. The Company operates through four segments: debt investments financed with collateralized debt obligations (CDOs) other debt investments (Other Debt) investment in golf properties and facilities (Golf) and corporate. Newcastle’s golf business includes around 87 properties in the United States that it leases owns or manages. The Company’s debt business consists of assets of $473.2 million financed in CDOs whereby Newcastle is the manager as well as $833.3 million of other real estate related securities and assets. Its investment portfolio includes debt investments such as commercial assets residential assets corporate assets and other investments such as golf investment. Newcastle is externally managed and advised by an affiliate of Fortress Investment Group LLC (Fortress) (the Manager).