RECENT Real Estate Investment Trusts RESEARCH
In April, the Case-Shiller Index rose by 1% month-over-month. It’s up by 5.4% YoY. Prices are still about 10% below the peak set in the summer of 2006.
The latest Existing Home Sales report shows available inventory at 4.7 months and a market that’s tilted heavily in favor of sellers.
From March 2015 to March 2016, the Pacific states took the lead with home price appreciation of 9.5%, followed by the Mountain states with a gain of 8.5%.
During the week ending May 6, the average 30-year fixed rate mortgage fell by 5 basis points. Mortgage rates have been less volatile than the ten-year bond.
After an uneventful FOMC (Federal Open Market Committee) meeting last week where the Fed stood firm, all eyes turned to the jobs report this coming Friday, May 6.
In February 2016, the FHFA (Federal Housing Finance Agency) reported that home prices grew 0.4% month-over-month and 5.6% year-over-year. Home prices have eclipsed their April 2007 peak and are hitting…
With the spring selling season underway, housing starts in the United States are rising.
On April 6, 2016, the Fed released the March FOMC minutes. Bonds were already weak on the day given the strength in equity markets, so they didn’t react much to the dovish language.
Being the most densely populated of the five boroughs of New York City and a key commercial and financial center globally, Manhattan has expensive housing.
In January 2016, the FHFA reported that house prices grew 0.5% month-over-month. The prices rose by 6% year-over-year. They’re higher than the peak in April 2007.
During the week ending March 4, 2016, the average 30-year fixed-rate mortgage was steady at 3.69%. The ten-year bond yield rose by 11 basis points.
In December 2015, the FHFA reported that house prices grew 0.4% month-over-month, rising by 5.2% year-over-year.
This week contains a slew of important economic data including the jobs report. This will be the last jobs report before the March 15–16 FOMC meeting.
MFA Financial’s (MFA) book value per share fell from $7.70 in 3Q15 to $7.47 in 4Q15. Losses on agency and non-agency mortgage-backed securities drove the drop.
General Growth Properties’ FFO (funds from operations) per share for 4Q15 were $0.43, higher than the consensus estimate of $0.42.
Equity Residential, the largest US residential REIT, reported its 4Q15 earnings on February 2, 2016. Its earnings per share were $0.55.
The largest US retail REIT, Simon Property Group reported its 4Q15 earnings on January 29, 2016. The company’s EPS for 4Q15 was $1.27, higher than the consensus estimate of $1.16.
AvalonBay Communities is the second-largest residential REIT company in the US with a market cap of $24.6 billion. Among the 26 analysts following AvalonBay’s stock, 16 have assigned a “buy” rating. AvalonBay received only one sell rating and nine “hold” ratings.
Simon Property Group (SPG) is set to release its 4Q15 and full year 2015 earnings on January 29, 2016. In 2015, it returned 4.9%. The stock was trading at $186.40 on January 19, 2016.
Camden Property Trust is set to release its 4Q15 earnings and full-year 2015 earnings on January 29, 2016. The stock was trading at $72.30 on January 15, 2015.