Colony Capital Inc.
Mortgage REITs Rose among the Volatile Market
The week ending December 24, 2015, reaped positive results for all of the mortgage REITs. The VanEck Vectors ETF Trust (MORT) ended with returns of 6.1%.
US Home Prices Rise 5.1% Year-over-Year
In January 2015, home prices grew 0.3% month-over-month, up 5.1% year-over-year. Prices are now within 3.5% of their April 2007 peak.
Home Prices Keep Climbing, and Here’s What It Means
The latest Existing Home Sales report shows available inventory at 4.7 months and a market that’s tilted heavily in favor of sellers.
Consumers Are Tempering Their Bullishness on Real Estate Prices
Rising real estate prices can be positive for non-agency REITs. However, they can be negative for agency REITs.
How Does Blackstone Mortgage Trust Compare to Its Peers?
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.
Turmoil in China’s Stock Exchange Wreaks Havoc on REITs
China’s stock exchange wreaked havoc on the global economy for the week ended January 8, 2016. The REITs market saw a severe downturn during the week.
How Does a Tight Inventory Affect Home Prices?
Prices continue to climb 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 new highs. A tight real estate market is driving prices higher. The latest Existing Home Sales report shows available inventory at 4.5 […]
Blackstone Mortgage’s Net Income and EPS Rose in 3Q15
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.
Annaly Capital Reported a Drop in Its Earnings for 2Q16
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.
Who Benefits from Climbing Home Prices?
In May 2016, the FHFA (Federal Housing Finance Agency) reported that house prices rose by 0.2% month-over-month and 5.6% year-over-year.
Fannie Mae’s survey – real estate prices are expected to increase
Over the past year, the percentage of people who think home prices will increase grew from 43% to 49%. Month-over-month, this number was up 3%.
Annaly Capital Maintained Its Leverage in 2Q16
Annaly Capital ended 2Q16 at 5.3x leverage—flat with the first quarter. It’s still less than the 6.3x ratio it operated with before the taper tantrum.
Real Estate Market Hot in the West, Cold in the Northeast
Home prices in the Pacific and Mountain states have outperformed prices in the rest of the country over the past two years.
Home Prices Dropped in a Quarter of States in 1Q16
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%.
Why Annaly Capital Boosted Its Leverage in the First Quarter
Both Annaly Capital (NLY) and American Capital Agency (AGNC) went into 2016 carrying lower leverage than they have historically.
Tight Inventory Continues to Drive House Prices Higher
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.
Why House Prices Have Hit a New Record
In December 2015, the FHFA reported that house prices grew 0.4% month-over-month, rising by 5.2% year-over-year.
The Unemployment Rate Falls as the Labor Force Shrinks
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.
Unemployment Ticks Down: Good News and Bad News for REITs
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.
The FHFA House Price Index shows geographical divergence
The FHFA House Price Index breaks down home price appreciation by region and by state.
The FHFA House Price Index increased in December
The FHFA House Price Index only looks at houses with mortgages guaranteed by Fannie Mae and Freddie Mac.