Newcastle slips after earnings beat

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

Newcastle Investment (NCT -2.1%) is lower post-earnings, maybe as investors mull the company being one of the country's 5 largest owners and operators of golf courses in what wasn't a great winter and isn't yet shaping up to be a very good spring.

Newcastle's hope for a 22% yield from these properties is more "aspirational" at this time, admits management on the earnings call. As with senior housing, the Newcastle team is excited by the opportunity offered by a highly fragmented, "mom & pop" ownership-dominated industry that looks like it may be beginning to recover from a period of distress.

Previously: Newcastle Investment beats by $0.01