NEW YORK (
Newcastle Investment Corporation
) hit a new 52-week high Friday as it traded at $8.28 compared with its previous 52-Week high of $8.25. Newcastle Investment is changing hands at $8.29 with 452,817 shares traded as of 1:52 p.m. ET. Average volume has been 738,300 shares over the past 30 days.
Newcastle Investment has a market cap of $476.4 million and is part of the
industry. Shares are up 18.4% 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 0.9, equal to the average real estate industry P/E ratio and below the S&P 500 P/E ratio of 22.6.
TheStreet Ratings rates Newcastle Investment as a hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins and solid stock price performance. However, as a counter to these strengths, we find that we feel that the company's cash flow from its operations has been weak overall. You can view the full
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