NCT Split History

NCT (NCT) has 5 splits in our NCT split history database. The first split for NCT took place on May 16, 2013. This was a 2133 for 1000 split, meaning for each 1000 shares of NCT owned pre-split, the shareholder now owned 2133 shares. For example, a 1000 share position pre-split, became a 2133 share position following the split. NCT's second split took place on February 14, 2014. This was a 119 for 100 split, meaning for each 100 shares of NCT owned pre-split, the shareholder now owned 119 shares. For example, a 2133 share position pre-split, became a 2538.27 share position following the split. NCT's third split took place on August 19, 2014. This was a 1 for 3 reverse split, meaning for each 3 shares of NCT owned pre-split, the shareholder now owned 1 share. For example, a 2538.27 share position pre-split, became a 846.09 share position following the split. NCT's 4th split took place on October 23, 2014. This was a 1 for 2 reverse split, meaning for each 2 shares of NCT owned pre-split, the shareholder now owned 1 share. For example, a 846.09 share position pre-split, became a 423.045 share position following the split. NCT's 5th split took place on November 07, 2014. This was a 5575 for 1000 split, meaning for each 1000 shares of NCT owned pre-split, the shareholder now owned 5575 shares. For example, a 423.045 share position pre-split, became a 2358.475875 share position following the split.

When a company such as NCT splits its shares, the market capitalization before and after the split takes place remains stable, meaning the shareholder now owns more shares but each are valued at a lower price per share. Often, however, a lower priced stock on a per-share basis can attract a wider range of buyers. If that increased demand causes the share price to appreciate, then the total market capitalization rises post-split. This does not always happen, however, often depending on the underlying fundamentals of the business. When a company such as NCT conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share.

Looking at the NCT split history from start to finish, an original position size of 1000 shares would have turned into 2358.475875 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into NCT shares, starting with a $10,000 purchase of NCT, presented on a split-history-adjusted basis factoring in the complete NCT split history.

Growth of $10,000.00 With Dividends Reinvested
Start date:	06/11/2013
End date:	12/28/2016
Start price/share:	$4.66
End price/share:	$4.18
Starting shares:	2,145.92
Ending shares:	3,134.68
Dividends reinvested/share:	$1.74
Total return:	31.03%
Average Annual Total Return:	7.91%
Starting investment:	$10,000.00
Ending investment:	$13,103.63
Years:	3.55

Growth of $10,000.00 Without Dividends Reinvested
Start date:	06/11/2013
End date:	12/28/2016
Start price/share:	$4.66
End price/share:	$4.18
Dividends collected/share:	$1.74
Total return:	26.98%
Average Annual Total Return:	6.96%
Starting investment:	$10,000.00
Ending investment:	$12,698.60
Years:	3.55

About NCT

Drive Shack is a real estate investment trust that invests in, and manages, a range of real estate related and other investments. Co. operates through the following segments: debt investments financed with collateralized debt obligations, other debt investments, and investment in golf properties and facilities. Co.'s investments include investments in commercial mortgage backed securities, senior unsecured debt issued by property REITs, real estate related asset backed securities and Federal National Mortgage Association /Federal Home Loan Mortgage Corporation securities. As of Dec. 31, 2015, Co.'s Golf business included 86 properties in the U.S. that Co. leased, owned or managed. According to our NCT split history records, NCT has had 5 splits.