Newcastle Investment Stock Hits New 52-Week High (NCT)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK ( TheStreet) -- Newcastle Investment Corporation (NYSE: NCT) hit a new 52-week high Thursday as it is currently trading at $10.98, above its previous 52-week high of $10.95 with 659,111 shares traded as of 10:27 a.m. ET. Average volume has been 3.9 million shares over the past 30 days.

Newcastle Investment has a market cap of $1.85 billion and is part of the financial sector and real estate industry. Shares are up 23.8% year to date as of the close of trading on Wednesday.

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 four, below the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Newcastle Investment as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and increase in net income. However, as a counter to these strengths, we find that the growth in the company's earnings per share has not been good. You can view the full Newcastle Investment Ratings Report.

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