Newcastle Investment Stock Gaps Down On Spin-Off (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) -- Shares of Newcastle Investment Corporation (NYSE: NCT) were gapping down Thursday morning upon completion of the New Residential Investment Corp spin-off under new NYSE ticker NRZ. Shareholders of record on May 6 were issued one share of NRZ for ear share of NCT owned.

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The average volume for Newcastle Investment has been 5.2 million shares per day over the past 30 days. Newcastle Investment has a market cap of $3.11 billion and is part of the financial sector and real estate industry. Shares are up 42.1% year to date as of the close of trading on Wednesday.

Newcastle Investment Corp. operates as a real estate investment and finance company in the United States. The company has a P/E ratio of 5.1, 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, revenue growth and attractive valuation levels. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share and unimpressive growth in net income. You can view the full Newcastle Investment Ratings Report.

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