Annaly Capital reported core earnings of $0.29 per share in 2Q16. Wall Street analysts expected $0.29 per share—earnings were in line with the expectations.
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%.
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.
Peers have outperformed Blackstone Mortgage based on PBV, but Blackstone is ahead of its peers based on PE. ETFs have outperformed Blackstone based on PE, but Blackstone is ahead based on price movement and PBV.
Blackstone Mortgage reported net income from loans and other investments of $87.0 million in 3Q15, an increase of 74.6%. Net income and EPS increased to $67.8 million and $0.72, respectively.
The unemployment rate ticked down 0.2% to 5.3% in June, or ~8.3 million people. The underemployment rate includes discouraged workers—people who want to work, but who have given up looking.
Changing unemployment is a double-edged sword for REITs. Some bear credit risk, and an improving economy is good news. Others bear interest-rate risk, and they’re vulnerable to a hawkish Fed.
