Paulson's Investment in CB Richard Ellis Can't Boost Real Estate Sector Today (CBG, CBL, CMO, NLY)
More News related to CBG
- CB Richard Ellis (CBG) Announces that CEO Sale of 162K of Common Made Pursuant to Previous Election
- CB Richard Ellis CEO Stock Sale Covers Withholding Taxes on Share Distribution
- DCT Industrial Trust(R) Leases More Than 700,000 Square Feet in Columbus
- CBR Gold Corp. Announces $2M Private Placement
- CBR Gold Corp. Announces $2M Private Placement
More News related to CBL
- CBL & Associates (CBL) Declares $0.05 Quarterly Dividend; 2% Yield
- CBL & Associates Properties Declares Common and Preferred Stock Dividends
- Keefe, Bruyette and Woods Initiates Coverage of CBL & Associates Properties (CBL) with an Underperform
- Nordstrom Rack to Open First Store in North Carolina
- CBL (CBL) Posts Q3 FFO of $0.50, Tops by 3c; Reaffirms Guidance
More News related to CMO
- Notable Analyst Rating Changes 12/03: BAC, BKD, AVB, THC, RIG Upgraded; KIM, GENZ, REG, TCK Downgraded
- Sandler O'Neill Initiates Coverage on Mortgage Investment/REIT Stocks
- Keefe, Bruyette & Woods Upgrades Capstead Mortgage (CMO) to Outperform; Valuation Call
- Capstead Mortgage Corporation Declares November Dividend on Its $1.26 Cumulative Convertible Preferred Stock, Series B and Announces New Conversion Ratios for Its Preferred Stocks
- Southwest IDEAS Conference Announces Presenting Company Lineup, Lunch Programs
Stocks in the Real Estate Operations sector are underperforming the broader markets today despite news from John Paulson's Paulson & Co. that it has invested $100 million in commercial real estate servicing firm, CB Richard Ellis (NYSE: CBG). Shares of CBG spiked more than 14% today.
As the investment by Paulson (who made billions shorting housing over the last few years) should certainly be a positive for the sector, other factors are weighing on the group today:
- CBL & Associates (NYSE: CBL) announced that it plans to sell 50 million shares in a public offering and, consequently, sees FY09 results below the Street.
- CB Richard Ellis issued Q2 EPS guidance of $0.00-$0.07, versus the consensus of $0.07
- an analyst at Sterne Agee downgraded Capstead Mortgage (NYSE: CMO), Annaly Capital (NYSE: NLY) and MFA Financial (NYSE: MFA) from Buy to Neutral this morning. CMO and MFA fell about 4% today, while Annaly closed about 1% lower.
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