RECENT Real Estate Investment Trusts RESEARCH
According to the MBA (Mortgage Bankers Association) survey, mortgage applications rose 1.2% for the week ending December 4.
The ten-year bond yield rose five basis points. Mortgage rates were less volatile than the ten-year bond, as it was trading with incredible volatility.
Kilroy Realty Corporation (KRC) was founded in 1996 by John B. Kilroy Jr.
SL Green Realty is the second-largest publicly traded office REIT in the United States and is part of the S&P 500.
Boston Properties is a Boston-based REIT that completed its initial public offering in 1997 and is now the largest publicly traded office REIT in the US.
Headquartered in Atlanta, Georgia, Post Properties is structured as an REIT and completed its initial public offering in 1993.
September was another month of a solid jump in house prices, beating the consensus estimate of 0.4%. On a quarterly basis, house prices rose 1.3%, registering the 17th consecutive quarterly increase.
Education Realty Trust is a self-managed and self-administered equity REIT. The main objective of the company is to develop, acquire, own, and manage student housing properties.
For the week ending November 20, 2015, the iShares US Real Estate ETF and iShares Mortgage Real Estate Capped underperformed the SPDR S&P 500 ETF Trust.
American Campus Communities (ACC), founded by William C. Bayless in 1993, completed an IPO in 2004 and became the first publicly traded student housing REIT on the New York Stock Exchange.
Dycom reported a loss on debt extinguishment of $16.3 million in 1Q16. Its respective net income and earnings per share rose to $30.8 million and $0.91 in 1Q16.
Despite the looming possibility of a rate hike, the iShares US Real Estate ETF outperformed the broad market SPDR S&P 500 ETF on November 20, 2015.
MAA is the sixth largest apartment REIT company in the United States, with a market capitalization of $6.4 billion.
The SPDR S&P 500 ETF Trust (SPY) fell 3.6% last week. It was outperformed by the US Real Estate ETF (IYR) and the iShares Mortgage Real Estate Capped ETF (REM).
It will be interesting to see how funds like IYR and REM react to the possible rate hike, as these funds are sensitive to movements in interest rates.
Camden Property Trust (CPT) is the fifth largest apartment REIT in the United States. At the end of fiscal 2014, it had 181 multifamily properties comprised of 63,163 apartment homes.
Communications Sales & Leasing has a market cap of $2.9 billion. Its year-to-date price movement has been falling quarter-over-quarter in 2015.
MAXIMUS reported revenue of $578.7 million in fiscal 4Q15, a rise of 32.9% when compared to the revenue of $435.4 million in fiscal 4Q14.
Apartment Investment & Management Company (or AIMCO) (AIV) is a self-administered, self-managed REIT. It’s one of the largest owners and operators of apartment communities in the United States.
After its fiscal 3Q15 earnings report, Store Capital rose by 0.74% to close at $21.82 per share on November 12, 2015.