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Newcastle Investment Corp. Message Board

  • bobdbeck bobdbeck Jan 22, 2013 4:18 PM Flag

    OT: IVR announces

    secondary, 17.5 million shares ,,eom..

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • It's been awhile since IVR has been able to raise capital. And now that the stock hit a year high, I'm not surprised that they'd take advantage. If the recovery in the hoursing market is real (I think so), then this is a good time to add more non-agency and/or comerical stuff. The 15 million is not relatively large for them, and they've done larger (20 million).

      W. Ross is behind Invesco, so I would not be surprised if they we looking at distressed real estate -- possibly in the European market.

      • 2 Replies to sonnenwayne
      • Wayne: Looks like that's the new area (distressed residential) of interest. TWO just spun off Silver Bay to concentrate on that. Speaking of spin offs, Credit Suisse breaks out the NCT breakup value as $7.40 for the Residential and $3.10 for the commercial (there's the $10.50 stock price a/h today). I'm still trying to figure out how the market will value both entities.

        Sentiment: Strong Buy

      • Secondaries are the way all REITs raise major money to grow their business. Preferred shares, bonds and other minor issues raise a minor amount. If you check most REITs, you'll see they all make secondaries on a fairly regular basis if market conditions allow. Right now the sector is running hot and prices are strong so I would agree we should expect some more SPO announcements soon. As I hold now 10 different REITS (ANH, AMTG,MTGE,AGNC,MFA,TWO,NYMT,WMC, IVR, and last but not least NCT) I expect 2 or 3 of them to announce SPOs before the end of the month. Real estate is hopping.

        Sentiment: Strong Buy

    • Not surprised. I think we'll see some more mREITS doing SOs in the near future. A good time to buy IMO.

 
NCT
4.69-0.05(-1.05%)Jul 23 4:03 PMEDT

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