Why Were CSAL and CYS the Bottom REIT Performers in Mid-July?
Recently, on June 29, 2015, CSAL’s stock price fell by 7%. The move came with pretty good selling volume.
Some of the top performers of the iShares US Real Estate ETF (IYR) are Sun Communities (SUI) and WP Glimcher (WPG).
Recently, Wells Fargo has upgraded some of mortgage REITs to “Outperform” from “Market Perform” that have a significant weighting in the REM ETF.
Major stocks in the top five REIT subgroups that saw positive returns over the week ended July 17.
The United States real estate industry was in the news recently, as it replaced China to become the world’s largest real estate market.
US ten-year Treasuries traded at a yield of 2.27% on July 24. They traded at a yield of 2.34% the previous week.
WTI (West Texas Intermediate) crude oil prices continued to fall in the week ended July 24. WTI prices fell to $48.14 per barrel.
Mont Belvieu ethane prices moved slightly upwards to 19 cents per gallon for the week ended July 24, 2015.
The Henry Hub–Mont Belvieu fractionation spread dropped to $8.40 per barrel for the week ended July 24, 2015.
The benchmark Henry Hub natural gas price fell to $2.78 per million BTU (British thermal units) for the week ended July 24.
Nearly all upstream MLPs ended in the green in yesterday’s trade. Upstream companies’ earnings are significantly tied to crude oil and natural gas prices.
Cone Midstream (CNNX) was the worst performer among midstream MLPs at the end of trading on Tuesday, July 28. It fell 1.33% yesterday.
Buckeye Partners (BPL) was the best performer among the midstream MLPs at the end of trading on Tuesday, July 28. It rose 5.96% yesterday.
At a broader level, ~81.8% of Wall Street analysts rate Kinder Morgan a “buy,” ~13.6% rate it a “hold,” and ~4.5% rate it a “sell.”
According to Wall Street analysts’ consensus outlook, Kinder Morgan’s (KMI) dividend is expected to grow by ~15.3% year-over-year by the end of 2015.
Kinder Morgan’s (KMI) project backlog increased by $3.7 billion during 2Q15. The project backlog increased as a net effect of new projects being launched and others being dropped.
Kinder Morgan’s total EBDA decreased to $1.721 billion in 2Q15 from $1.762 billion in 2Q14—the result of poor performance in various segments.
Kinder Morgan missed its revenue estimates for the third consecutive quarter. The 2Q15 consensus estimate was ~$4.029 billion, but the firm missed that by 14.1%.
In this series, we’ll look at Kindred Morgan’s 2Q15 operating results, compare actual numbers with analyst estimates and individual segment contributions to 2Q15 operating performance.
Three natural gas rigs were added at Haynesville last week, while one natural gas rig was idled at the Niobrara Shale. The Utica Shale added one natural gas rig last week.
But if I knew how to manage my portfolio safer and smarter than most hedge fund managers, I could realistically grow my wealth.