Seeking Alpha

The spinoff of New Residential (NRZ) from Newcastle Investment (NCT) has been completed and NRZ...

The spinoff of New Residential (NRZ) from Newcastle Investment (NCT) has been completed and NRZ will begin trading on the NYSE today. At the moment, NCT is indicated to open at $5.83, NRZ at $6.70 - a total of $12.53 vs. yesterday's NCT close of $12.33. (PR
Comments (17)
  • My NRZ shares aren't showing up in my Scottrade account yet.


    Anybody know how long this takes?
    16 May 2013, 10:58 AM Reply Like
  • I'm surprised it wasn't immediate.
    16 May 2013, 11:00 AM Reply Like
  • Just spoke to Scottrade-- they say for our 'safety', to be sure stock is avail, it will credit after the close!! What a load....
    16 May 2013, 01:50 PM Reply Like
  • Of course, for a fee they can trade it even though they treat it as if they are not on the market already. Money grubbing. But- not selling, so nothing lost at this point.
    16 May 2013, 01:51 PM Reply Like
  • Great. That is a relief. But as long as I get the correct shares, why does it matter if Scottrade credits it 8 hours after it started trading? The money is the same. And I'm not selling. Both (NCT) and (NRZ) should do very well.
    16 May 2013, 05:53 PM Reply Like
  • Not a problem for those of us holding on. But what if you had a reason to sell while it had popped yesterday...still feel good if that happened?
    17 May 2013, 01:50 PM Reply Like
  • My Schwab account shows both today. Both are in the green, but it is early.
    16 May 2013, 11:06 AM Reply Like
  • I fired off an email query.


    We'll see.
    16 May 2013, 12:37 PM Reply Like
  • I don't see it in my ML account yet either.......and I can't get a quote on NRZ altho my broker told me it was trading@ $6.94
    Does anyone know how many shares of NRZ we get for each share of NCT? My on line portfolio won't accept the symbol NRZ as yet. Anyone else having that problem?
    16 May 2013, 01:14 PM Reply Like
  • 1 for 1.
    16 May 2013, 03:48 PM Reply Like
  • Anyone have a clue about the cost basis? $6.55?
    16 May 2013, 01:15 PM Reply Like
  • ML told me it would show Monday! I wasn't following this closely enough... imagine my surprise to see NCT down 53% this morning, and not knowing what the heck is going on. Google answered my questions... but seriously, can't see until Monday? Thanks for nothing Merrill!
    16 May 2013, 03:48 PM Reply Like
  • If I read the news release correctly the CB for NCT will be $5.83 and for NRZ it is $6.70. Any corrections?
    16 May 2013, 07:29 PM Reply Like
  • I got the NRZ shares in my Scottrade account today.


    I'm good.
    17 May 2013, 12:44 PM Reply Like
  • If the spinoff was for holders of record as of 5/6, then why did NCT not drop the 50+% as of 5/7 (like going ex-dividend)? Any thoughts?


    Seems like anyone who would have bought in between 5/7 and 5/16 really got the shaft...


    Waiting for mine to hit my account...I guess it will be Monday like the Merrill accounts...
    19 May 2013, 07:49 PM Reply Like
  • Now I'm trying to figure out what the dividends will be.


    20 May 2013, 01:50 PM Reply Like
  • Check the 4/26/13 "Presentation" pgs 6 & 7 on their website:


    20 May 2013, 05:09 PM Reply Like
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