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The spinoff of New Residential from Newcastle (NCT +1.8%) by quarter's end is on track, says...

The spinoff of New Residential from Newcastle (NCT +1.8%) by quarter's end is on track, says Chairman Wes Edens on the earnings call (transcript). One "actionable" idea for 2013 from Edens: The non-performing loan market - "This could be the year where a lot of that does break loose .. the (GSEs) own many hundreds of billions." With nearly $300M to invest after the last capital raise, NCT has the funds to be a player.
Comments (4)
  • getgl
    , contributor
    Comments (724) | Send Message
     
    Management is what you buy with NCT and for the past year they have done very well for us stockholders.
    28 Feb 2013, 03:50 PM Reply Like
  • RSI Raistlin
    , contributor
    Comments (405) | Send Message
     
    a far cry from that day when it closed at .15 a few years ago
    28 Feb 2013, 03:57 PM Reply Like
  • Michael Bryant
    , contributor
    Comments (5834) | Send Message
     
    Can't wait to see if (NCT)'s spin-off will rise, maybe doubling in 6 months.
    28 Feb 2013, 07:30 PM Reply Like
  • GriffinKnight
    , contributor
    Comment (1) | Send Message
     
    Is this spin-off for current shareholders? If not, who is getting the shares?
    1 Mar 2013, 05:37 AM Reply Like
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