More on Newcastle Q4 results

|About: Newcastle Investment Corp. (NCT)|By:, SA News Editor

Core earnings of $26.8M or $0.08 per share compares to $23.9M and $0.08 in Q3. GAAP book value of $3.14 per share compares to $2.74. There was an average of $150M of uninvested capital throughout the quarter

About $434M of capital was invested during quarter, with Senior Housing division investing $331M to acquire $1.1B of assets.

In CDOs and other, there was the New Media deal and also the restructuring of National Golf Properties in which Newcastle invested $49M and acquired the equity of NGP and its affiliated American Golf Corporation. The businesses own, lease, or manage a portfolio of 92 gold courses in 15 U.S. states.

Subsequent to the end of the year, Newcastle invested $9M to acquire 2 managed senior housing properties for a total price of $26M. The company has another 11 properties under contract for a total purchase price of $273M (will require equity investment of $92M).

Justine Cheng comes over from Fortress to become the new CFO and COO, effective March 4.

CC at 10 ET

NCT no trades premarket