Newcastle Investment Stock Falls On Unusually High Volume (NCT)

NEW YORK ( TheStreet) -- Newcastle Investment Corporation (NYSE: NCT) is trading at unusually high volume Wednesday with 7.5 million shares changing hands. It is currently at 4.1 times its average daily volume and trading down 33 cents (-4.7%) at $6.69 as of 9:36 a.m. ET.

Newcastle Investment has a market cap of $886.6 million and is part of the financial sector and real estate industry. Shares are up 53.5% year to date as of the close of trading on Tuesday.

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 3.5, above the average real estate industry P/E ratio of 3.3 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 solid stock price performance, attractive valuation levels and good cash flow from operations. 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.

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