Newcastle Investment Corp.
 (NCT)

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  • Wed, Feb. 3, 7:28 AM
    • Clifford Press has been appointed to the Newcastle Investment (NYSE:NCT) board of directors, bringing toe board size to seven.
    • This comes as part of a deal with a group of investors led by BLR Partners in which they will vote all their shares for the company's slate this year.
    • Press has been a managing member of Oliver Press Partners since March 2005, and prior to that was a general partner at a P-E firm.
    • Press: "As the legacy real estate portfolio continues to be monetized, I believe there are positive capital allocation opportunities available to create significant stockholder value both in the short and long term."
    • Source: Press Release
    | Wed, Feb. 3, 7:28 AM | 1 Comment
  • Dec. 14, 2015, 5:47 PM
    • Newcastle Investment (NYSE:NCT) declares $0.12/share quarterly dividend, in line with previous.
    • Forward yield 12.4%
    • Payable Jan. 29; for shareholders of record Dec. 24; ex-div Dec. 22.
    | Dec. 14, 2015, 5:47 PM | 1 Comment
  • Nov. 4, 2015, 7:28 AM
    • Q3 core earnings of $10M or $0.16 per share vs. $12M and $0.17 in Q2. Adjusted FFO of $16M or $0.25 vs. $27M and $0.40. Dividend is $0.12.
    • Real Estate Debt Portfolio of $361M of non-agency assets and $355M of agency; generated $13M of NII, or an 18% annualized return.
    • Golf Business Owned, leased and managed 87 properties across 13 states.
    • Earnings call at 10 ET
    • Previously: Newcastle Investment misses by $0.02 (Nov. 4)
    • NCT flat premarket
    | Nov. 4, 2015, 7:28 AM | 1 Comment
  • Nov. 4, 2015, 6:42 AM
    • Newcastle Investment (NYSE:NCT): Q3 EPS of $0.16 misses by $0.02.
    • Revenue of $8.29M (-9.2% Y/Y)
    | Nov. 4, 2015, 6:42 AM
  • Nov. 3, 2015, 5:30 PM
  • Sep. 30, 2015, 7:34 AM
    • Reporting a 5.18% stake in New Senior (NYSE:SNR), John Levin's Levin Capital Strategies takes note of the dramatic underperformance of late of not just New Senior (SNR), but other Newcastle Investment (NYSE:NCT) spinoffs, New Residential (NYSE:NRZ) and New Media (NYSE:NEWM).
    • External management - in which Wes Eden and team at Fortress Investment (NYSE:FIG) get paid on size, but not necessarily performance - is at issue here, says Levin.
    • "Setting targets for capital raising may or may not be helpful in getting Fortress’ stock price up, but it sends a terrible message to the shareholders of companies that are externally managed by Fortress."
    | Sep. 30, 2015, 7:34 AM | 24 Comments
  • Sep. 21, 2015, 5:28 PM
    • Newcastle Investment (NYSE:NCT) declares $0.12/share quarterly dividend, in line with previous.
    • Forward yield 9.38%
    • Payable Oct. 30; for shareholders of record Oct. 1; ex-div Sept. 29.
    | Sep. 21, 2015, 5:28 PM | 1 Comment
  • Sep. 2, 2015, 4:23 PM
    • The $157M face amount of third-party gold debt was bought back by NCT at 90% of par. The $141M purchase was funded with $71M of cash on hand and $70M of short-term financing.
    • The deal generated a $15M gain.
    | Sep. 2, 2015, 4:23 PM | 3 Comments
  • Aug. 10, 2015, 1:17 PM
    • Newcastle Investment (NYSE:NCT) is up 2.7% as LF Partners' Charles Frischer writes to its manager, Fortress Investment Group (FIG +1.1%), requesting that Newcastle launch a $100M share buyback.
    • "I have been a long-term investor" in Newcastle and recently bought more shares feeling they were at a significant discount to NAV, he writes. Frischer owns 5.2% of NCT after the move.
    • "In the aftermath of a great earnings report, NCT shares were down 6.5% for the week," he says. "At the current stock price of $4.60, the market clearly is not giving the company credit for the value of the golf assets."
    • If Fortress won't implement the big buyback, Frischer is calling for an immediate sale or liquidation of the company that he thinks will bring more than $6.65/share.
    • With today's move, shares are trading at $4.74.
    • LF Partners 13-D filing
    | Aug. 10, 2015, 1:17 PM | 4 Comments
  • Aug. 5, 2015, 7:57 AM
    • Q2 core earnings of $12M or $0.17 per share vs. $8M and $0.12 in Q1. Adjusted FFO of $27M or $0.40 per share vs. $7M and $0.11. Dividend of $0.12.
    • Real Estate Debt Portfolio: Sold $203M of non-agency paper during Q at average price of 96% of par, and $7M of real estate properties, and received $32M of pay downs generating $73M of proceeds and $30M gain on sale. Generated $12M of NII, or a 15% annualized return.
    • Gold Business: Added 314 private club members to same-store portfolio Y/Y, and increased rounds played by about 55K during H1 compared to H1 of 2014.
    • Earnings call at 9 ET
    • Previously: Newcastle Investment reports Q2 results (Aug. 5)
    • NCT flat premarket
    | Aug. 5, 2015, 7:57 AM | 5 Comments
  • Aug. 5, 2015, 7:38 AM
    • Newcastle Investment (NYSE:NCT): Q2 AFFO of $0.40
    • Revenue of $82.8M (+0.1% Y/Y)
    | Aug. 5, 2015, 7:38 AM
  • Jun. 22, 2015, 5:43 PM
    • Newcastle Investment (NYSE:NCT) declares $0.12/share quarterly dividend, in line with previous.
    • Forward yield 9.47%
    • Payable July 31; for shareholders of record July 2; ex-div June 30.
    | Jun. 22, 2015, 5:43 PM | 2 Comments
  • May 8, 2015, 7:28 AM
    • Q1 core earnings of $8M or $0.12 per share flat from Q4. AFFO of $7M or $0.11 vs. $11M and $0.17. DIvidend is $0.12.
    • Real Estate Debt Portfolio asset face value of $1B - $600M of non-agency assets and $400M of agency. Portfolio increased in value by $6M during quarter to price of 87% of par. $43M in non-agency asset pay downs and recovered $7M of net proceeds to company. Generated $15M if NII, or a 16% annualized yield.
    • Golf Business owned and leased 88 properties over 14 states. 270 private club members added to same store portfolio, increased rounds played by about 9K. Added a golf property in SoCal; signed a 21-year lease to operate a 27-hole muni course which generated more than $3B of revenue in 2014.
    • Earnings call at 9 ET
    • Previously: Newcastle Investment reports Q1 results (May 8)
    • NCT flat premarketN
    | May 8, 2015, 7:28 AM
  • May 8, 2015, 7:22 AM
    • Newcastle Investment (NYSE:NCT): Q1 AFFO of $0.11
    • Revenue of $60.83M (-2.9% Y/Y)
    | May 8, 2015, 7:22 AM
  • May 7, 2015, 5:30 PM
    | May 7, 2015, 5:30 PM | 7 Comments
  • Mar. 16, 2015, 6:10 PM
    • Newcastle Investment (NYSE:NCT) declares $0.12/share quarterly dividend, in line with previous.
    • Forward yield 10.46%
    • Payable April 30; for shareholders of record March 27; ex-div March 25.
    | Mar. 16, 2015, 6:10 PM | 4 Comments
Company Description
Newcastle Investment Corporation is a real estate investment trust (REIT) that focuses on opportunistically investing in, and actively managing, a variety of real estate related and other investments.
Sector: Financial
Country: United States