NEW YORK (
) is trading at unusually high volume Friday with 4.5 million shares changing hands. It is currently at 5.4 times its average daily volume and trading up 14 cents (+2.2%) at $6.30 as of 3:35 p.m. ET.
Newcastle Investment has a market cap of $529 million and is part of the
industry. Shares are up 32.5% year to date as of the close of trading on Thursday.
Operates as a REIT investing in credit-sensitive real estate securities, including commercial and residential mortgage-backed securities and unsecured REIT debt, mostly rated BBB or BB, which it seeks to match with liabilities with respect to interest rates and maturities. The company has a P/E ratio of 2.1, below the S&P 500 P/E ratio of 17.7.
TheStreet Ratings rates Newcastle Investment as a
. The company's strengths can be seen in multiple areas, such as its notable return on equity, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and generally poor debt management. You can view the full
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