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

Prospectus excerpt:  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 »

Alternate symbology:NCT-C, NCT-PC, NCTprC
Call Date:10/25/2010 (Now Trading Post Call Date)
Shares Offered:1,600,000
Liquidation Preference:$25
Recent Market Price:$24.57
Discount to Liquidation Preference:
(More Preferreds Trading at a Discount »)
$-0.43 (-1.72%)
Annualized Dividend:2.0125
Recent Ex-Date:10/20/2016
Current Yield:8.19%
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 invests in, and manages, a range of real estate related and other investments. Co. operates through the following segments: debt investments financed with collateralized debt obligations, other debt investments, and investment in golf properties and facilities. Co.'s investments include investments in commercial mortgage backed securities, senior unsecured debt issued by property REITs, real estate related asset backed securities and Federal National Mortgage Association /Federal Home Loan Mortgage Corporation securities. As of Dec. 31, 2015, Co.'s Golf business included 86 properties in the U.S. that Co. leased, owned or managed.


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Name:  Newcastle Investment Corp
Sector:  REITs
Number of ETFs Holding NCT:  6 (see which ones)
Total Market Value Held by ETFs:  $9,589,828
Total Market Capitalization:  $297,000,000
% of Market Cap. Held by ETFs:  3.23%

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