Newcastle Investment Hits 52-Week High On Dividend News (NCT)

Shares of Newcastle Investment Corporation

ended the Friday trading session up 9.9% at $7.32 per share. The company announced on Thursday after the market closed that it would pay dividends on January 31, 2011 to holders of record on January 20, 2011 for the period beginning May 1, 2010 and ending January 31, 2011. The day's range for shares of Newcastle Investment Corporation was between $6.71 and a 52-week high of $7.36 per share. The average price target of analysts who cover Newcastle Investment Corporation (

) is $10.00 per share. Volume of 2.1 million shares was was nearly triple the daily average volume of 718,000 shares. Newcastle Investment Corporation invests in real estate debt and other real estate related assets. Newcastle Investment Corporation is organized and conducts its operations to qualify as a real estate investment trust (REIT) for federal income tax purposes. Read more