Newcastle Investment misses by $0.22

• Newcastle Investment (NCT): Q4 AFFO of $0.17 misses by $0.22.
• Press Release

Comments

[Dividend Investor 101]

Must be people weren't impressed. Wes mentioned they want to pour money into the golf business on the CC this morning...but it will be more than golf...he said to think of it as leisure business. That portfolio should sell at 10 times ETBA (or what ever metric that is)...which would make their equity value around 150 million based on projected 2015 golf earnings. That would be about $2.5 per share to add on to the 4.3 to 5 dollars per share of CDO value... for a grand total of 6.8 to 7.5 dollars per share of future book value.

[Michael Bryant]

So (NCT) surged in premarket, but plunged at the open. I wonder why.

[achilleus]

Came here to say this.

[Dividend Investor 101]

Pretty good earnings. Seeking Alpha messed up though by saying they missed by $0.22 cents... as last quarters earnings included SNR's earnings. This quarter it doesn't. So the 0.17 AFFO was about what I was expecting and the dividend is covered.