Yes, that’s better

By Geert De Lombaerde Posted on February 25, 2010 at 11:51 am

Local investor Hugh Entrekin and two other preferred shareholders of Newcastle Investment Trust are much more satisfied with the REIT’s latest exchange offer, which will give them about $10 per share. That’s almost 50 percent more than the company (Ticker: NCT) offered three months ago.

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Tags: Hugh Entrekin, Newcastle Investment Corp., preferred stock, real estate investment trusts, Southern Strategic Partners LP, stock buybacks  

Local money manager fights REIT on preferred buyback

By Geert De Lombaerde Posted on November 9, 2009 at 10:07 am

Nashville investment vehicle Southern Strategic Partners says it and other holders of Newcastle Investment Corp. preferred stock aren’t getting a fair deal in the real estate investment trust’s $150 million repurchase plan. Newcastle (Ticker: NCT) has been posting some pretty ugly results of late and is looking to restructure its balance sheet.

“While we could be supportive of a restructuring of Newcastle, we cannot support the current proposal because it fails to recognize the preferred stock’s priority position in the capital structure and does not offer preferred stockholders common stock or warrants to purchase common stock as part of the tender.”

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Tags: activist investors, debt buybacks, Hugh Entrekin, investment management, Newcastle Investment Corp., preferred stock, real estate investment trusts, Southern Strategic Partners LP, stock valuation