Northstar Realty Finance Corp
How Does Annaly Capital Finance Its Portfolio?
Annaly Capital leverages its portfolio with repurchase agreements. Annaly Capital’s repurchase agreements fell from $54.4 billion to $53.9 billion in 2Q16.
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.
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.
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.
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%.
How Does Annaly Capital Finance Its Balance Sheet?
Annaly Capital (NLY) and most other mortgage REITs tend to lever their portfolios with repurchase agreements.
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 […]
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.
Why Did REITs Rise as the Fed Increased the Rates?
Residential REITs derive their revenue from rentals and apartment sales. Rising rates could increase the borrowing cost for investors. The asset’s value falls.
Highlights from the Liability Side of Annaly’s 1Q15 Balance Sheet
Annaly Capital’s repurchase agreements decreased from $71.4 billion to $60.5 billion in 1Q15. The average days to maturity on its repossessions increased from 141 to 149.
Highlights of the Asset Side of Annaly’s 1Q15 Balance Sheet
Agency mortgage-backed securities and the new Agency Credit Risk transfer bonds accounted for $70.5 billion of Annaly’s $78.7 billion in assets.
Maverick Capital Extends Its Position in Northstar Realty Finance
Maverick Capital increased its position in Northstar Realty Finance (NRF) by more than $21 million in stock. Northstar represented 1.06% of the fund’s total portfolio in 4Q14.
Maverick Capital Bumps Up Santander by $70 Million in Q4
Maverick Capital increased its position in Santander Consumer USA Holdings (SC) by more than $70 million in stock. Santander accounts for 4.44% of the fund’s portfolio in 4Q14.
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.
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.
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%.
The week ahead: Jobs plus Annaly and other mortgage REIT earnings
We have a big week ahead, with a slew of important economic data and earnings from the mortgage REIT sector. The biggest REIT will be Annaly Capital reporting on Wednesday.