I was correct a month ago when I said SIDEWAYS. Now the div has been declared and it comes up short. This is no surprise as NCT only had a 1 penny coverage for the last dividend ASSUMING all investible cash were invested. Guys, the party is over. Check out NTI. Everyone is expecting a large dividend cut for the next one because the plant was shut down for 5 weeks. There will be a cut but much smaller than believed and the price will be much higher in 60 days. By the way the div yield is double NCT plus NRZ. GLTA.
I agree with mreitcmbs. I don't see how you can say "it comes up short" with the Q2 dividend just declared (.17 NCT and .07 NRZ, combined .24, which is still larger that the last pre-split NCT Q div of .22). If you listen to the call, Edens is suggesting the Q3 and Q4 estimated divs at .14-15 for NCT and .12-.13 for NRZ.
The middle of this range would be .27 combined per Q or .05 higher than the last pre-split NCT Q div.of .22!
not for me I sold the NRZ at 6.80s and bought more NCT in the 5.40s and 5.20s so I think I lucked out at this point. Will hold NCT thru my life unless things change with their divie!
Sentiment: Strong Buy
Have you been paying attention at all? The presentation clearly showed a dividend based on ALL cash invested. The fact of the matter is they have those large BofA MSR deals that are scheduled to close over the next couple of months which will put the dividend inline. I suggest you listen to the call they had at 4:30 which would clear up a lot of your confusion.
All I said was the dividend declared was not as high as the dividend was projected to be in the presentations before the split. This is a fact. I thought the entire spin off process and the communication in regard to it was sloppy. That is an opinion. I am not a basher. I owned 7,500 of NCT but sold it at 11.89 before the actual spin off. I invested much of the proceeds in NTI. Twice the yield as the nct/nrz combo. That's a fact. I think more upside potential. That's an opinion.
I liked NCT before, then everyone fell in love with it, it moved higher, the spin off occurred(sloppily) and I sold my position. I was intending to get back in last week but the company has spiked up and I missed my chance. I may like it again and get back in but not now. Geez guys, don't be so sensitive. GLTA!