Paulson's Investment in CB Richard Ellis Can't Boost Real Estate Sector Today (CBG, CBL, CMO, NLY)
More News related to CBG
- Liberty Mutual's 10 St. James Avenue, Boston Building Receives LEED Silver Certificate for Existing Buildings Operations and Maintenance
- CB Richard Ellis (CBG) To Sell Up to $300M In Stock In ATM Offering
- CB Richard Ellis Group, Inc. Announces Launch of At-the-Market Public Stock Offering of up to $300 Million
- CB Richard Ellis Group, Inc. Extends Exchange Offer for Its 11.625% Senior Subordinated Notes Due 2017
- CB Richard Ellis (CBG) Misses Q3 EPS by 2c
More News related to CBL
- CBL (CBL) Posts Q3 FFO of $0.50, Tops by 3c; Reaffirms Guidance
- CBL Closes Extension and Modification of Full $560 Million Revolving Credit Facility
- Trading Radar for 11/03: UBS (UBS), Yamana Gold (AUY), Archer-Daniels (ADM), Royal Caribbean (RCL), Marathon (MRO) Report
- CBL Announces Settlers Ridge in Pittsburgh (Robinson Township), PA Opens 94% Leased and Committed
- CBL & Associates Helps Santa Feed America, Asks Shoppers to Give Gift of Food
More News related to CMO
- 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
- Capstead Mortgage (CMO) Reports Q3 EPS of $0.56, Even with Street
- Capstead Mortgage Corporation Announces Third Quarter 2009 Earnings
- Capstead Mortgage Corporation Schedules Third Quarter 2009 Earnings Release and Conference Call
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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