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.
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