Newcastle Investment Corporation
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Newcastle Investment Corporation is a real estate investment trust and finance company based in New York City. Its New York Stock Exchange ticker symbol is NCT. It was founded in 1998, and had its Initial Public Offering in October 2002.
Newcastle Investment Commercial, Residential, Corporate Debt
Newcastle owns commercial mortgage backed securities, senior unsecured debt issued by property REITs, real estate related asset backed securities, and agency residential mortgage backed securities. Newcastle also owns interest in loans and pools of loans, including real estate related loans, commercial mortgage loans, residential mortgage loans, and manufactured housing loans. They target A to BB securities, with first loss credit protection.
Newcastle Investment managed by an affiliate of Fortress Investment Group LLC, and Fortress also owned a significant amount of Newcastle. They have a $6.6 billion portfolio -- commercial, residential and corporate debt.
As they are a mortgage REIT, they're an investment with significant interest rate risk.
Next: Annaly Capital Management, Inc -- managing assets on behalf of individuals and institutions
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