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NCT

Newcastle Investment Corp.

6/19/2013, 5:20 AM ET

Quote & Headlines Market Currents StockTalk

All
| Earnings
| Dividends
| M&A
| On the move

Wednesday, June 12, 8:59 AM Newcastle Investment (NCT) prices its upsized secondary (from 30M to 35M shares) at about $4.97/share for gross proceeds of $174M. Shares off 1.55% premarket to $5.07. (PR) Comment! [Financials, On the Move, Breaking News]
Tuesday, June 11, 7:15 PM Newcastle Investment (NCT) announces a 30M share public offering, with a 30 day option for an additional 4.5M shares. The company plans to use the net proceeds to make a variety of investments, primarily acquisitions of senior housing properties, but could also include CDO debt, other real estate securities and loans, operating businesses or other assets. Shares -1.4% AH. 1 Comment [Financials, On the Move]
Tuesday, June 11, 5:30 PM After-hours top gainers, as of 5:15 p.m.: RMBS +8%. ULTA +8%. LND +5%. BNNY +5%. Z +3%.
After-hours top losers: IEP -5%. FSLR -4%. BCOV -3%. GOL -3%. NCT -3%. Comment! [On the Move]
Tuesday, June 4, 7:19 AM In addition to declaring its first post-spinoff dividend last night, Newcastle (NCT) also announced the completion of the sale of all the assets in CDO IV. Valued at $153M at par, the sale was done at $145M, or 95% of par. The company will recover par on $60M of CDO debt which had previously been purchased at $0.52. (PR) Comment! [Financials]
Monday, June 3, 5:45 PM Newcastle Investment (NCT) declares $0.17/share quarterly dividend. Forward yield 13.3% For shareholders of record June 13.Payable July 31.Ex-div date June 11. Shares +3.7% AH. (PR) 1 Comment [Dividends, On the Move]
Monday, June 3, 2:50 PM Both New Residentail (NRZ -0.9%) and Newcastle Investment (NCT +0.4%) plan conference calls after the close to provide dividend policy updates following last month's spinoff of NRZ from NCT. An underwhelming performer since the spinoff, Newcastle has ticked higher by nearly 3% since the CC announcement. Did investors think there was never going to be a dividend again? Both calls (I, II) are set for 4:30 ET. 1 Comment [Financials]
Thursday, May 23, 8:49 AM Just spun off from Newcastle Investment (NCT), New Residential (NRZ) gets busy, announcing a co-investment with Nationstar Mortgage (NSM) in a recent acquisition of MSRs with UPB of about $23B. New Residential is investing about $38M in exchange for one-third of the monthly cash flow, net of a fee paid to Nationstar, which will perform all servicing functions. All of the mentioned companies are in the portfolio of Fortress Investment (FIG), which has also acquired one-third of the cash flows. (PR) Comment! [Financials]
Wednesday, May 22, 12:00 PM After more than tripling since its (unloved) IPO 14 months ago, Nationstar Mortgage (NSM) is the subject of a glowing writeup in Forbes - "A jewel in Fortress' (FIG) portfolio." Mortgage servicing is recognized as a great business now and Nationstar - along with Fortress-owned Newcastle (NCT, NRZ) - Ocwen (OCN) and Walter (WAC) are currently the favorites of the mortgage gorillas, Fannie and Freddie. 2 Comments [Financials]
Wednesday, May 22, 10:16 AM New Residential (NRZ) is initiated a Buy with $7.50 price target at Credit Suisse following its spinoff from Newcastle (NCT -1.4%). Earlier, Newcastle was downgraded to Hold at KBW. Comment! [Financials]
Wednesday, May 22, 9:58 AM Newcastle Investment (NCT -2.5%) continues a bit of a post NRZ-spinoff tumble as KBW downgrades from Buy to Hold with price target of $5.50. The combined value of the two now stands at $12.44, roughly the level just ahead of the spinoff. 4 Comments [Financials]
Thursday, May 16, 12:51 PM Midday top 10 gainers: EGLE +46%. NBG +24%. SBSA +23%. DQ +22%. GNK +19%. AEGR +19%. GLBS +17%. SINO +17%. PRGN +16%. LWAY +16%.
Midday top 10 losers: NCT -54%. SNFCA -22%. ONTY -21%. INFI -19%. CNIT -15%. CYCC -14%. PTSX -14%. AMD -13%. BDCO -11%. TRIT -11%. 2 Comments [On the Move]
Thursday, May 16, 9:14 AM Premarket gainers: RGDX +24%. EGLE +23%. EFUT +19%. TSLA +13%. CSCO +13%. SCTY +11%. DQ +9%. HALO +8%. DANG +7%. AV +7%. YRCW +8%. NBG +7%. KSS +7%. SPWR +6%.
Losers: NCT -53%. SNFCA -24%. AMD -10%. NQ -7%. CYCC -5%. Comment! [On the Move]
Thursday, May 16, 8:06 AM The spinoff of New Residential (NRZ) from Newcastle Investment (NCT) has been completed and NRZ will begin trading on the NYSE today. At the moment, NCT is indicated to open at $5.83, NRZ at $6.70 - a total of $12.53 vs. yesterday's NCT close of $12.33. (PR) 17 Comments [Financials]
Tuesday, May 7, 10:47 AM Mortgage servicers all move higher after a big earnings report from Nationstar (NSM +5.7%). Nationstar cousin Newcastle (NCT +2%), Ocwen (OCN +2.4%), Walter Investment (WAC +2.1%). Scale is key in the servicing business, and Nationstar has increased its UPB by an average 104% annually since 2008 (presentation). Another nice profit center is originations, and they're expected to more than triple this year, helped by the immediately accretive acquisition of Greenlight at 0.7x AEBITDA. 1 Comment [Financials, On the Move]
Friday, May 3, 6:18 PM After-hours top gainers, as of 5:30 p.m.: ABFS +16.0%. RNR +3.75%. MSG +3.3%. NCT +3.1%. INCY +3.0%.
After-hours top losers: STM -9%. GRMN -3.6%. BRCD -2.7%. H -2.6%. CPWR -2.1%. Comment! [On the Move]
Friday, May 3, 12:42 PM "Loving (the) mREIT (MORT -2%) pullback," says Tom Akin, who - in addition to being CEO of Dynex Capital (DX) - runs an income-focused hedge fund. A longtime bull on Newcastle Investment (NCT -0.5%), Akin says if it drops below $5 post the New Residential spinoff, it's the one to buy. In when-issued trading, NCT is at $5.10 (NRZ's at $6.67). 14 Comments [Financials, Quick Ideas]