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Newcastle Investment Corp | 8.05% Series C Cumulative Redeemable Preferred Stock (NCT.PRC)

Prospectus exerpt:  We are offering and selling 1,600,000 shares of our 8.05% Series C Cumulative Redeemable Preferred Stock, which we refer to as the Series C Preferred Stock. We will pay cumulative dividends on the Series C Preferred Stock from (and including) the date of original issuance in the amount of $2.0125 per share each year, which is equivalent to 8.05% of the $25.00 liquidation preference per share. However, during any period of time that both (i) the Series C Preferred Stock is not listed on the New York Stock Exchange (NYSE) or the American Stock Exchange (AMEX), or quoted on the NASDAQ Stock Market (NASDAQ), and (ii) we are not subject to the reporting requirements of the Securities Exchange Act of 1934, as amended (Exchange Act), but shares of Series C Preferred Stock are outstanding, we will increase the cumulative cash distributions payable on the Series C Preferred Stock to a rate of 9.05% per year of the $25.00 liquidation preference (equivalent to $2.2625 per year per share). Dividends on the Series C Preferred Stock will be payable quarterly in arrears, beginning on January 31, 2006. The shares of Series C Preferred Stock have no stated maturity, will not be subject to any sinking fund or mandatory redemption and will not be convertible into any other securities. Holders of shares of Series C Preferred Stock will generally have no voting rights, but will have limited voting rights if we fail to pay dividends for six or more quarters, whether or not consecutive, and in certain other events.

Full Prospectus PDF », NCT Page »

Series:C
Redeemable?:Yes
Call Date:10/25/2010 (Now Trading Post Call Date)
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:1,600,000
Overallotment:160,000
Liquidation Preference:$25
Recent Market Price:$25.08
Premium to Liquidation Preference:
(More Preferreds Trading at a Premium »)
$0.08 (0.32%)
Annualized Dividend:2.0125
Recent Ex-Date:9/25/2014
Current Yield:8.02%
Original Coupon:8.050%
Pay Period:Quarterly
Pay Dates:31-Jan, 30-Apr, 31-Jul, 31-Oct
Newcastle Investment is a real estate investment trust that focuses on investing in, and managing, a range of real estate related and other investments. Co. invests in senior housing properties, real estate debt and other investments. Co. conducts its business through the following segments: investments in senior housing properties (senior housing), debt investments financed with collateralized debt obligations (CDOs), other debt investments (Other Debt), investments in media (Media), and investment in golf courses and facilities (Golf). As of Dec 31 2013, Co. owned 33 managed properties and 51 triple net lease properties.

Preferreds: NCT.PRB, NCT.PRC, NCT.PRD


Open the NCT Information Page »
Name:  Newcastle Investment Corp
Website:  www.newcastleinv.com
Sector:  REITs
Number of ETFs Holding NCT:  11 (see which ones)
Total Market Value Held by ETFs:  $282,895,524
Total Market Capitalization:  $1,453,000,000
% of Market Cap. Held by ETFs:  19.47%

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