Newcastle Investment Corp. (NCT) - NYSE
  • 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
  • Mar. 12, 2015, 3:02 PM
    • New Senior (SNR +1.5%) has had a tough go of it since being the latest spinoff out of Newcastle Investment (NCT) late last year, but it's posting a modest bounce as Leon Cooperman reports a 5.13% passive stake in the stock.
    | Mar. 12, 2015, 3:02 PM | 2 Comments
  • Mar. 5, 2015, 7:27 AM
    • Newcastle Investment (NYSE:NCT) files a shelf offering for 6.3M shares to be sold by "selling shareholders."
    • SEC Form S-3
    | Mar. 5, 2015, 7:27 AM
  • Mar. 2, 2015, 9:18 AM
    • Q4 core earnings of $8M or $0.12 per weighted-average share. AFFO of $11M and $0.17. Q4 dividend was $0.12. Comparisons to prior quarters/year are tough after all of the spinoffs.
    • The earnings call is set for 10 ET.
    • NCT +1.25% premarket
    | Mar. 2, 2015, 9:18 AM
  • Mar. 2, 2015, 7:38 AM
    • Newcastle Investment (NYSE:NCT): Q4 AFFO of $0.17 misses by $0.22.
    | Mar. 2, 2015, 7:38 AM | 4 Comments
  • Mar. 1, 2015, 5:30 PM
    | Mar. 1, 2015, 5:30 PM | 3 Comments
  • Dec. 22, 2014, 7:43 AM
    • Newcastle Investment Corp. (NYSE:NCT) declares $0.12/share quarterly dividend.
    • Forward yield 10.06%
    • Payable Jan 30; for shareholders of record Jan 2; ex-div Dec. 30.
    | Dec. 22, 2014, 7:43 AM
  • Nov. 18, 2014, 8:53 AM
    • "Our positive thesis is based primarily on the industry opportunity and the company's off-market acquisition strategy and managed portfolio, which we expect to drive higher than average industry returns," says Compass Point analyst Jason Stewart, starting New Senior (NYSE:SNR) with a Buy rating and $20 price target. "In addition, the current valuation provides for sufficient downside protection for execution of the acquisition strategy, which is likely to be lumpy quarter to quarter."
    • Despite said lumpiness, Stewart expects the company to close on what is likely a substantial pipeline, and for SNR to be able to generate necessary efficiencies.
    • The $20 price target is based on a 20% discount to NAV, a 17x AFFO multiple, and a dividend yield of 5.5%.
    • The stock is down 7.9% since being spun off from Newcastle Investment (NYSE:NCT) at the end of last month.
    | Nov. 18, 2014, 8:53 AM | 6 Comments
Company Description
Newcastle Investment Corp., a real estate investment trust, invests in commercial real estate companies located in the US. It primarily invests in real estate & other debt and senior housing areas.
Sector: Financial
Industry: REIT - Diversified
Country: United States