NEW YORK, NY--(Marketwire -04/17/12)- REITs have continued to perform well this year as the U.S. housing market is finally showing signs of a long-awaited recovery. Record-low mortgage rates, lower prices, and an improving job market appear to be encouraging many potential buyers. The Vanguard REIT ETF (VNQ), which tracks and measures the performance of publicly traded equity REITs, is up over 7 percent year-to-date. Five Star Equities examines the outlook for diversified REITs and provides equity research on Newcastle Investment Corp. (NYSE: NCT - News) and NorthStar Realty Finance Corp. (NYSE: NRF - News). Access to the full company reports can be found at:
According to a recent Associated Press article the past winter was the best for sales of previously occupied homes in five years, and permits to build new homes and apartments in February rose to the highest levels since 2008. "People feel much more confident," said Steve Brown, co-owner of real estate company Irongate Inc. of Dayton, Ohio, who says sales jumped more than 16 percent for the first two months of 2012 over the same period last year. "There's no question there's a good feeling in the marketplace."
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Newcastle Investment Corp. announced that its Board of Directors has declared a quarterly dividend of $0.20 per common share for the first quarter of 2012, representing a 33% increase from the prior quarter's dividend of $0.15 per common share. The dividend is payable on April 30, 2012 to shareholders of record on March 26, 2012.
NorthStar Realty Finance Corp. recently announced that it will host a conference call to discuss first quarter 2012 financial results on Thursday, May 3, 2012 at 10:00 a.m. Eastern. Hosting the call will be David T. Hamamoto, Chairman and Chief Executive Officer; Albert Tylis, Co-President and Chief Operating Officer; Daniel R. Gilbert, Co-President and Chief Investment Officer; and Debra A. Hess, Chief Financial Officer. A press release with first quarter 2012 financial results is scheduled to be issued before the market open on May 3, 2012.
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