Punch Associates Investment Management buys $13,148,724 stake in Newcastle Investment Corp. (NCT)

Newcastle Investment Corp. (NCT) : Punch Associates Investment Management scooped up 827,902 additional shares in Newcastle Investment Corp. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 25, 2016. The investment management firm now holds a total of 3,029,660 shares of Newcastle Investment Corp. which is valued at $13,148,724.Newcastle Investment Corp. makes up approximately 1.58% of Punch Associates Investment Management’s portfolio.

Newcastle Investment Corp. opened for trading at $4.38 and hit $4.47 on the upside on Monday, eventually ending the session at $4.41, with a gain of 1.61% or 0.07 points. The heightened volatility saw the trading volume jump to 1,71,423 shares. Company has a market cap of $294 M.

Other Hedge Funds, Including , Sheaff Brock Investment Advisors boosted its stake in NCT in the latest quarter, The investment management firm added 112 additional shares and now holds a total of 16,291 shares of Newcastle Investment Corp. which is valued at $70,703. Newcastle Investment Corp. makes up approx 0.01% of Sheaff Brock Investment Advisors’s portfolio.Shikiar Asset Management Inc reduced its stake in NCT by selling 8,199 shares or 12.79% in the most recent quarter. The Hedge Fund company now holds 55,900 shares of NCT which is valued at $242,047. Newcastle Investment Corp. makes up approx 0.11% of Shikiar Asset Management Inc’s portfolio. Reilly Financial Advisors sold out all of its stake in NCT during the most recent quarter. The investment firm sold 91 shares of NCT which is valued $394.Simplex Trading reduced its stake in NCT by selling 1,366 shares or 35.56% in the most recent quarter. The Hedge Fund company now holds 2,475 shares of NCT which is valued at $10,346.

On the company’s financial health, Newcastle Investment Corp. reported $0.13 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Mar 8, 2016. Analyst had a consensus of $0.08. The company had revenue of $69.40 million for the quarter.The company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS.

Newcastle Investment Corp. (Newcastle) is a real estate investment trust (REIT). The Company focuses on investing in and managing a variety of real estate related and other investments. The Company operates through four segments: debt investments financed with collateralized debt obligations (CDOs) other debt investments (Other Debt) investment in golf properties and facilities (Golf) and corporate. Newcastle’s golf business includes around 87 properties in the United States that it leases owns or manages. The Company’s debt business consists of assets of $473.2 million financed in CDOs whereby Newcastle is the manager as well as $833.3 million of other real estate related securities and assets. Its investment portfolio includes debt investments such as commercial assets residential assets corporate assets and other investments such as golf investment. Newcastle is externally managed and advised by an affiliate of Fortress Investment Group LLC (Fortress) (the Manager).

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