Ryland Group Inc

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  • uploads///kbh pm
    Earnings Report

    Organic Growth Boosts KB Home’s Revenue

    KB Home (KBH) has a market cap of $1.34 billion. After the earnings report in 3Q15, KB Home rose by 1.04% to close at $14.60 per share.

    By Gabriel Kane
  • uploads///RYL SPF SPF basics
    Miscellaneous

    Basics of Standard Pacific

    Standard Pacific generally acquires undeveloped land zoned for residential use. It typically buys and holds land for cash, although it uses options as well.

    By Brent Nyitray, CFA, MBA
  • uploads///RYL SPF RYL basics
    Miscellaneous

    California Homebuilder Ryland: The Basics

    Ryland targets the entry-level, move-up, and second move-up buyer. Its prices range from $160,000 to more than $650,000, with 2014’s selling prices averaging $330,000.

    By Brent Nyitray, CFA, MBA
  • uploads///RYL SPF spread
    Miscellaneous

    Ryland and Standard Pacific Join in a Merger of Equals

    Ryland (RYL) and Standard Pacific (SPF) are two California-based homebuilders. Today, they announced their merger of equals transaction.

    By Brent Nyitray, CFA, MBA
  • uploads///ryl
    Fund Managers

    Citadel Advisors increases position in Ryland Group

    Citadel Advisors filed a 13G with the SEC in January 2015 and updated its position in Ryland Group. According to the filing, Citadel owns 5% of the company.

    By Adam Rogers
  • uploads///Lennar
    Earnings Report

    Lennar Corporation’s Target Segments And Financial Arm

    Lennar Corporation (LEN) is a homebuilder with a primary geographical focus on the Southeast, South, Southwest, and Northwest.

    By Brent Nyitray, CFA, MBA
  • uploads///Pending Home Sales
    Macroeconomic Analysis

    Pending Home Sales Tick Up In November, Reflecting Market Health

    Pending home sales are an indicator of the real estate market’s health. Recently, the market has been characterized by limited supply.

    By Brent Nyitray, CFA, MBA
  • uploads///Pending Home Sales
    Consumer

    Why did pending home sales rebound after a slow start to 2014?

    Given that the first-time homebuyer is still in a difficult financial situation with a weak job market and high student loan debt, homebuilders are focusing more on the move-up buyer.

    By Brent Nyitray, CFA, MBA
  • uploads///Empire State Manufacturing Survey
    Consumer

    Empire State Manufacturing Index improves, outlook remains bright

    Overall, the report shows the economy is still expanding moderately, and firms are generally optimistic about the future.

    By Brent Nyitray, CFA, MBA
  • uploads///NAHB Housing Market Index
    Consumer

    Why homebuilder sentiment hits post-bubble highs, helping stocks

    Homebuilders are in a better position than the smallest construction firms in that they have easy access to credit.

    By Brent Nyitray, CFA, MBA
  • uploads///MR IBD TIPP
    Consumer

    Economic optimism rebounds, but it still remains depressed

    The IBD/TIPP Optimism Index increased by 3 points to 41.4 versus 38.4 in October. It’s well below its 12-month average of 45.

    By Brent Nyitray, CFA, MBA
  • uploads///ISM PMI
    Consumer

    ISM manufacturing survey shows more manufacturing expansion

    Overall increases in business activity and consumption are starting to drive more business for homebuilders.

    By Brent Nyitray, CFA, MBA
  • uploads///Foreclosure Completions
    Consumer

    August foreclosure completions tick up but homebuilders unaffected

    Increases in foreclosure activity correlate with lower home prices because distressed properties tend to trade at a discount to non-distressed properties.

    By Brent Nyitray, CFA, MBA
  • uploads///MR pending home sales
    Consumer

    Pending home sales declined in August as mortgage rates increased

    The Pending Home Sales Index (PHSI), a proprietary index from the National Association of Realtors based on contract signings, fell 1.5%, to 107.7 in August from 109.4 in July.

    By Brent Nyitray, CFA, MBA
  • uploads///MR KBH
    Consumer

    KB Home swings to a profit and its turnaround stays on pace

    Unlike some of the other builders, KB is a turnaround story. The company believes its strategic focus on first-time and move-up homebuyers is finally beginning to pay off.

    By Brent Nyitray, CFA, MBA
  • uploads///MR consumer sentiment
    Consumer

    Consumer sentiment falls, another warning about the economy?

    The Thomson Reuters/University of Michigan Consumer Confidence Index is a leading indicator for the U.S. economy The Thomson Reuters/University of Michigan Consumer Confidence Index is an important indicator of the consumer’s perception of the U.S. economy. Similar to other consumer confidence measures, it asks consumers about their views on the current economic conditions and their […]

    By Brent Nyitray, CFA, MBA
  • uploads///MBA Purchase Index
    Consumer

    Why the MBA Purchase Index fell but housing remains affordable

    The MBA Purchase Index fell by 0.4% last week, which is somewhat surprising given that rates fell and even refinances rose.

    By Brent Nyitray, CFA, MBA
  • uploads///Homeownership Rate
    Consumer

    Why the homeownership rate has declined to 65% in this recession

    The homeownership rate rose precipitously during the housing bubble. This was due to several reasons.

    By Brent Nyitray, CFA, MBA
  • uploads///Consumer Sentiment
    Consumer

    University of Michigan Consumer Confidence Index dips in August

    The Thomson Reuters/University of Michigan Consumer Confidence Index is a leading indicator for the U.S. economy The Thomson Reuters/University of Michigan Consumer Confidence Index is an important indicator of the consumer’s perception of the U.S. economy. Similar to other consumer confidence measures, it asks consumers about their views on the current economic conditions and their […]

    By Brent Nyitray, CFA, MBA
  • uploads///MR homebuilder ETF
    Consumer

    How to think about upcoming homebuilder earnings (Part 2)

    Back to Part 1 Revenues for the homebuilding sector have been increasing at a rapid rate So far, we’ve seen huge revenue growth from the builders that have already reported second quarter earnings. KB Home (KBH) reported a 73% year-over-year increase in revenues, while Lennar (LEN) reported a 53% jump. NVR Corp (NVR) reported a 31% […]

    By Brent Nyitray, CFA, MBA
  • uploads///MR Michigan
    Consumer

    Consumer confidence dipped slightly in July, but opportunity for homebuilders

    The Thomson Reuters/University of Michigan Consumer Confidence Index is a leading indicator for the U.S. economy The Thomson Reuters/University of Michigan Consumer Confidence Index is an important indicator of the consumer’s perception of the U.S. economy. Similar to other consumer confidence measures, it asks consumers about their views on the current economic conditions and their […]

    By Brent Nyitray, CFA, MBA
  • uploads///MBA Purchase Index
    Consumer

    Homebuilder opportunity: Mortgage purchase applications fall, but still strong

    The MBA Purchase Index is an important index that forecasts housing activity The Mortgage Bankers Association (MBA) index of purchase activity measures application activity, not loans made. The Mortgage Bankers Association samples roughly 75% of all mortgage activity in the U.S., and its indices are key indicators for the real estate finance market and home […]

    By Brent Nyitray, CFA, MBA
  • uploads///IBD TIPP Optimism Index
    Consumer

    IBD / TIPP economic optimism index falls in July, but don’t blame interest rates

    The Investor’s Business Daily/TechnoMetrica Optimism Index is considered to be a preview of the upcoming consumer confidence indices The Investor’s Business Daily/TechnoMetrica Optimism Index has a good track record of predicting how the two major consumer confidence indices – the Conference Board and the University of Michigan Consumer Confidence indices – will look when they are released later in […]

    By Brent Nyitray, CFA, MBA
  • uploads///ISM PMI
    Consumer

    ISM PMI shows manufacturing back in expansionary territory

    The Institute for Supply Management Index assesses the state of manufacturing in the United States. The Institute for Supply Management Purchasing Manager’s Index (ISM PMI for short) is similar to the other regional PMI indices, however, it covers the entire country. The ISM PMI looks at various business indices, like new orders, production, employment, supplier […]

    By Brent Nyitray, CFA, MBA
  • uploads///New Home Sales  year
    Consumer

    New home sales increase 29% from a year ago, positive for homebuilder stocks

    May new home sales, as reported by the Census Bureau and the Department of Housing and Urban Development, increased 2.1% from April New home sales increased to an annualized pace of 454,000, up 2.3% from April (which was revised upward from an initial estimate of 454,000 to 466,000) and up 29% from a year ago. […]

    By Brent Nyitray, CFA, MBA
  • uploads///NAHB Homebuilder Sentiment Index
    Consumer

    Homebuilder sentiment leaps in June

    The National Association of Homebuilder Sentiment Index is a closely-watched measure of future building activity The National Association of Homebuilders Sentiment Index measures the confidence of homebuilders. It gauges builder perceptions of current and future sales of single family residences and asks them to characterize them as “good,” “fair,” or “poor.”  It also asks the […]

    By Brent Nyitray, CFA, MBA
  • uploads///Home Equity
    Consumer

    Aggregate home equity increases 9% in Q113

    Corelogic puts out a quarterly report on aggregate home equity in the U.S. Corelogic’s Home Equity Report analyzes changes in home equity from a number of different perspectives. Home equity can be used to predict default rates, and we saw a large number of strategic defaults early in the housing bust as professional investors realized […]

    By Brent Nyitray, CFA, MBA
  • uploads///NY PMI
    Consumer

    New York PMI falls in May

    The Institute of Supply Management index assesses the state of manufacturing in the New York City Metropolitan Area The Institute of Supply Management (ISM) New York Purchasing Manager’s Index (PMI) is similar to the ISM PMI , however, it covers the New York City area. The ISM PMI looks at various business indices, like new […]

    By Brent Nyitray, CFA, MBA
  • uploads///Foreclosure Completions
    Consumer

    Foreclosure completions drop again in April

    Foreclosure starts are a leading indicator of future housing supply and pricing Foreclosure activity is closely watched by investors, realtors and home builders alike because they provide a forecast of future housing supply. Foreclosure timelines can vary widely by state, depending on whether a foreclosure needs to be approved by a judge. The large foreclosure […]

    By Brent Nyitray, CFA, MBA
  • uploads///FICO scores
    Consumer

    Is credit finally starting to ease up in the mortgage market?

    Ellie Mae is a software provider that aggregates mortgage origination activity Ellie Mae (ELLI) puts out a monthly Origination Insight Report which provides monthly data and analysis from a sample of closed loan applications that flow through their Encompass 360 Mortgage Management Software. In many ways, it is similar to the way Automatic Data Processing […]

    By Brent Nyitray, CFA, MBA
  • uploads///Distressed Sales
    Consumer

    Distressed Home Sales Fall

    Distressed Home sales are tracked by CoreLogic in their monthly Market Pulse Distressed Sales and shadow inventory are closely related. Distressed sales include Real Estate Owned (REO) and short sales. REO sales are generally foreclosures, while short sales are below the current outstanding debt on the property. Distressed supply will put a damper on pricing as […]

    By Brent Nyitray, CFA, MBA
  • uploads///MDC Holdings
    Consumer

    MDC Holdings reports 80% increase in revenues

    MDC Holdings is a home builder with exposure to the West, South and Mountain areas. MDC Holdings (MDC) is a Denver CO-based home builder that sells single-family detached homes primarily to first-time and move-up buyers under the Richmond American brand name. They also have a finance arm that handles mortgage origination, insurance and title services. […]

    By Brent Nyitray, CFA, MBA
  • uploads///MBA Purchase Index
    Consumer

    MBA Purchase Index falls in the week ending April 26

    The MBA Purchase Index is an important index to forecast housing activity The Mortgage Bankers Association (MBA) index of purchase activity measures application activity, not loans made. The Mortgage Bankers Association samples roughly 75% of all mortgage activity in the U.S., and its indices are key indicators for the real estate finance market and home […]

    By Brent Nyitray, CFA, MBA
  • uploads///Lender Processing Services HPI
    Consumer

    Lender Processing Services Home Price Index increases 1% in February

    The Lender Processing Services Home Price index is the price of a “representative” home in the United States Lender Processing Services (LPS) is a major provider of data and analytics to mortgage industry professionals. As such, LPS has access to a wide variety of foreclosure data, delinquency data, prepayment data, and local real estate markets. […]

    By Brent Nyitray, CFA, MBA
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