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Posts Tagged ‘stock market’

Markets Closed for Memorial Day

May 29th, 2017 Comments off

Arlington Nation Cemetery in Washington, D.C. Credit: Wikipedia.

The U.S. Stock Markets are closed today, in deference to the Memorial Day holiday. Normally known in the U.S. as the “gateway to summer,” Memorial Day is a significant homage to those who have made sacrifices.

Per Wikipedia, Memorial Day is a federal holiday in the United States for remembering the people who died while serving in the country’s armed forces.

The holiday is currently observed every year on the last Monday of May. It marks the unofficial start of the summer vacation season, while Labor Day marks its unofficial end.

Many people visit cemeteries and memorials, particularly to honor those who have died in military service. Many volunteers place an American flag on each grave in national cemeteries.

Memorial Day is not to be confused with Veterans Day; Memorial Day recalls the men and women who died while serving our country, while Veterans Day celebrates the service of all U.S. military veterans.

Following President Abraham Lincoln’s assassination in April 1865, commemorations were ubiquitous. The sheer number of soldiers of both sides who died in the Civil War (more than 600,000) meant that burial and memorialization took on new cultural significance. Under the leadership of women during the war, an increasingly formal practice of decorating graves had taken shape.

In 1865, the federal government began creating national military cemeteries for the Union war dead.

For a look at Friday’s Market Report, click here.

The management and team of MHProNews would like to extend our deepest thanks to those who made the ultimate sacrifice for our safety and freedom. ##

 

(Image credits are as shown above, and when provided by third parties, are shared under fair use guidelines.)

 

rcwilliams-writer75x75manufacturedhousingindustrymhpronews

RC Williams, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

 

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NorthStar Realty Finance’s target price and investor moves

October 1st, 2016 Comments off
seekingalphamoneybag-northstarrealtycorplogo-postedmanufacturedhousingindustrydailybusinessnewsmhpronews

Photo collage credits, money bag – Seeking Alpha and logo is the property of NSRF corp, used here under fair use guidelines.

Commercial real estate company NorthStar Realty Finance Corp (NYSE: NRF) recently received an average rating of “Hold” from a handful of analysts that are covering the firm, reports Baseball News Source’s James Conley.

Among the six analysts, two rated NorthStar’s stock a “buy” and the four issued a “hold” recommendation. The current average one-year price objective among the brokerages that have updated their coverage of the stock in the past 12 months is $15.25.

  • FBR & Co. (“market perform”),
  • TheStreet (“sell”) and
  • Zacks Investment Research (“strong sell”)

are among the equities research analysts that have weighed in on NorthStar’s shares during the last few months.

Despite the consensus “hold” rating, a number of hedge funds and investors have shown confidence in NRF’s stock.

  • FMR, LLC raised its position in NRF by 26.6% in the second quarter and now owns 9,827,611 NorthStar stock which is worth $112,329,000.
  • Brown Advisory, Inc. boosted its position in NorthStar stock by 57.8% in the second quarter, and now they own 2,904,107 shares, which translates into a $33,194,000 value.
  • Private management Group, Inc., and BlackRock Fund Advisors boosted their positions by 0.7% and 14.4%, respectively.

NorthStar currently has a 50-day moving average price of $13.12 and a 200-day moving average price of $12.87; its stock it a low of $8.38 over a 52-week period and a high of $25.62 over the same time period.

nrfstock-cerbatgem-postedmanufacturedhousingindustrydailybusinessnewsmhpronews

Graphic credit, Cerbatgem.

The company last reported its earnings results on Thursday, August 4 and reported $0.56 earnings per share for the quarter, according to The Cerbat Gem.

Further reporting showed NorthStar had a positive return on equity of 14.82% and a negative net margin of 20.52% Looking ahead, equities analysts predict the company will post $1.72 for the current fiscal year.

NorthStar is expected to release its next earning report sometime between November 7 and November 11, per the News Oracle.

NorthStar Realty Finance is one of the manufactured home related stocks tracked by the Daily Business News, for last night’s close – click here. The firm invests in multiple asset classes across commercial real estate, with a portfolio that comprises manufactured home communities along with healthcare, hotels and multi-family properties. For a previous report by Matthew Silver on NSRF and manufactured housing, please click here. ##

(Image credit is as shown on the linked page.)

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Joe Dyton.

Submitted by Joe Dyton to the Daily Business News, MHProNews.

Sales of Previously-owned Homes Rises in March

April 21st, 2016 Comments off

home for sale   news courier rebecca croomesThe National Association of Realtors (NAR) tells MHProNews that sales of existing homes rose 5.1 percent in March from the prior month to a seasonally-adjusted annual rate (SAAR) of 5.33 million, beating economists’ expectation of 4.3 percent and a rate of 5.30 million.

Stephen Stanley, chief economist at Amherst Pierpont Securities, said housing demand is solid and steady, but inventory continues to remain low.

The NAR said the 1.98 million homes on the market at the end of March is down 1.5 percent  from a year ago. According to nasdaq, there is a 4.5 month supply of homes at the current rate of sales. Lawrence Yun, NAR’s chief economist, said buyers at the lower end of the market faced the most severe shortage of homes, while the stock market’s rough start to the year may have discouraged higher-end home sales.

The choppiness in sales activity so far this year is directly related to the unevenness in the rate of new listings coming onto the market to replace what is, for the most part, being sold rather quickly,” Mr. Yun said, noting homes stayed on the market an average of 47 days in March, down from 59 days in Feb.

Marking the 49th consecutive month of year-over-year gains, the limited supply of homes for sale drove the national median sale price up 5.7 percent over last March to $222,700.

Sales of previously owned homes in the Midwest rose 9.8 percent over the prior month to an annual rate of 1.23 million, while sales in the Northeast increased 11.1 percent to an SAAR of 700,000. In the West, sales rose 1.8 percent in March over Feb., while sales in the South increased by 2.7 percent.

While low interest rates, an improving job market and rising rents are typically good signs for the traditional spring buying season, low inventory and rising prices could dent homebuying. Furthermore, housing starts fell 8.8 percent in March, the lowest level of home building since October; and home builder sentiment held at 58 for the third straight month, following eight months above 60. ##

(Photo credit: newscourier/Rebecca Croomes)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHNProNews.

Could the Dow Jones Drop 1,000 Points? History says Maybe

August 24th, 2015 Comments off

forbes creditIn the wake of the Dow Jones’ precipitous fall of 530 points last week, Brett Arends, writing for marketwatch, says while the “perma bulls,” as he calls them, are gloating while the stocks continued ascending with barely a hitch, to characterize this as another buying opportunity he says is nonsense.

While stocks may bounce back temporarily, without being an alarmist it’s possible the Dow could conceivably fall to 5,000. He says for 30 years the stock market has been buoyed by falling interest rates and manipulation by the Federal Reserve—the latest being the quantitative easing to boost the economy—and a fall of 70 percent cannot be totally discounted, as MHProNews understands.

Let me say on the record that I am not joining the perma-bears or extreme doom-mongers. I am simply pointing out that the perma-bulls have taken their own arguments way too far. The stock market is not doomed to collapse to oblivion, as some hysterics keep claiming. But it is not certain to keep going up by 10% a year, either. All those claiming that every sell-off is a buying opportunity, and that stocks ‘always outperform,’ are lying to you,” says Arends.

Stock market history indicates the market has moved in long upward and downward swings, and we might be in the downward trajectory that began in 1982. He says, “Those big downward moves have not ended until share valuations have fallen to just 30% of the replacement cost of company assets.

Using a metric tool called tobin’s Q, which has been the most accurate measuring stick of any stock market indicator—better than price-to-earnings ratios or economic growth rates or long-term interest rates—says Arends, ”The “q” looks at the net asset values of public companies and adjusts them for inflation. It makes some intuitive sense. Why would Widget Inc. be valued at $1 billion on the stock market if you could start the company from scratch for a lot less?

Currently, the reading on the “q” is 100 percent, but it has averaged 70 percent since WWII, so if the Dow fell to its modern average valuation, it would be 12,000. If we consider the years 1949 to 1994 before the boom of the late 1990s, the average was 57 percent, which would reduce the Dow to around 9,500. Worst case scenario would see the Dow fall to 5,000, its historic bear market lows—30 percent of its current value.

He reminds us that at some point all the artificial stimulants will have to end, and while it is not likely the Dow will fall that far, that possibility should not be ruled out. The real danger, he adds, is that 99 percent of the people managing America’s money do not believe it is possible.

While few if any in MH would publicly say they want this to happen, if it did, with the right educational/marketing effort there could be a silver lining for manufactured housing. ##

(Image credit: forbes)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Wealthy returning, driving Million-dollar home sales up

September 2nd, 2013 Comments off

multi-million-home=posted-daily-business-news-mhpronews-com-A report from real estate research firm DataQuick reveals that U.S. home sales priced at more than $1 million are rising at three times the rate of the broader market. The journalgazette tells MHProNews that Craig Moe, who bought a $1.2 million home in June said, “When the real estate market was booming, people sat in Starbucks and talked about how much they paid for a house. Now, they talk about how little they paid and what a bargain they got.” Well-to-do buyers have often gained in the stock market’s rise since 2009 and are driving million-and-up sales, which rose an average of 37% in the first half of 2013. Sales below a million rose, but only by 11%, according to the National Association of Realtors (NAR). Sales of million-plus homes are at the highest level since 2007, while sales of less than a million dollar homes are at the best pace since 2009. ##

(Photo credit: Sterling Chase Realty)

 

Markets Closed Today, Happy Labor Day

September 2nd, 2013 Comments off

labor-day-we-can-do-it-world-war-2-poster-archives-gov-posted-manufactured-housing-pro-news-mhpronews-The stock markets are closed today, in observance of the labor day holiday. MHProNews wishes all a happy Labor Day.

Speaking of time off and holidays, the Daily Business News’ industry in focus reporter Matthew Silver has been on holiday the last two weeks. Silver returns tomorrow to resume the news that impacts or reflects on factory built housing professionals.

Publisher and industry consultant L. A. “Tony” Kovach and his immediate family – Soheyla and Tamas Kovach – will be moving to sunny Florida soon. Watch for their new business phone and address soon on LATonyKovach.com. ##

(Image credit: Wikicommons)

 

Zell says the Stock Market will Tumble

May 17th, 2013 Comments off

Sam Zell, Chairman of Equity LifeStyle Properties, Inc. (ELS) tells Fortune magazine the stock market is riding high but the underlying fundamentals are weak and the market will fall. “The current euphoria in the stock market will be adjusted, and I hope that’s all that happens,” he says. Noting that large investors are buying houses in quantities, which is pushing up prices, he says they may end up losing money because managing a house is much different than managing apartments.  He says the stock market is like the housing bubble right before it popped, and criticizes the Federal Reserve for its Quantitative Easing, which will eventually lead to inflation. “We’re seeing a tsunami of liquidity. But I don’t know that necessarily means things are better,” he adds. As MHProNews knows, ELS is the largest owner of manufactured housing and recreational vehicle communities in North America with 380 properties and over 140,000 homesites.

(Photo credit: The Wall Street Journal)

Stock Watcher Predicts Economic Growth

March 19th, 2013 Comments off

Mitch Zacks of zacksinvestmentmanagement says one of the major factors driving the stock market as it hits new highs is the strength of the job market, which has witnessed the strongest period of job increases in over five years, and a concurrent drop in unemployment claims to a five-year low. Zacks attributes the employment numbers to the Federal Reserve’s quantitative easing—essentially printing money, and predicts a Gross Domestic Product (GDP) growth of three percent this year, an upgrade from the 1.3 to 1.9 percent originally projected before the sequestration cuts. He says, “A fairly solid, full-steam ahead economy appears to be here.” MHProNews understands that jobs are a major factor in driving the overall housing economy. Zacks does caution that the Fed may ease the easing too soon, which could be harmful.

(Image credit: Fotosearch–Businessman with crystal ball)

Stock Market Closed

January 1st, 2013 Comments off

The U. S. stock markets are closed today in celebration of New Year’s Day. Markets will reopen tomorrow at 9 AM.

(Image credit: Wikipedia–historic New York Stock Exchange)

Stock Market Closed Today

November 22nd, 2012 Comments off

The U. S. stock markets are closed today in honor of Thanksgiving Day.

(Photo credit: Wikipedia)