NEW YORK ( TheStreet) -- Newcastle Investment Corporation (NYSE: NCT) hit a new 52-week high Friday as it is currently trading at $6.80, above its previous 52-week high of $6.75 with 555,170 shares traded as of 10:30 a.m. ET. Average volume has been 1.3 million shares over the past 30 days. Newcastle Investment has a market cap of $635.3 million and is part of the financial sector and real estate industry. Shares are up 42.4% 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 2.1, above the average real estate industry P/E ratio of two and below the S&P 500 P/E ratio of 17.7.
TheStreet Ratings rates Newcastle Investment as a hold. The company's strengths can be seen in multiple areas, such as its notable return on equity, good cash flow from operations and solid stock price performance. 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 Newcastle Investment Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.