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iShares Residential Real Estate Capped ETF (REZ)

  • Thu, Apr. 30, 3:15 PM
  • Oct. 13, 2014, 4:19 PM
  • Jan. 31, 2014, 10:26 AM
  • Jan. 10, 2014, 2:44 PM
  • Jul. 22, 2013, 2:58 PM
    Homebuilders (ITB -1.4%) tumble across the board after existing June home sales slipped a seasonally adjusted 1.2%. Rising mortgage rates were supposed to boost short-term demand as potential buyers aimed to lock in mortgages before rates went even higher, but the June report showed no sign of it. KBH -2.6%, RYL -2.5%, MTH -2.5%, DHI -2.2%, MDC -2.2%, HOV -2%, LEN -2%, PHM -1.6%, TOL -1.4%.
  • Jul. 5, 2013, 10:07 AM
    The homebuilders (XHB -1.3%) take today's sharply higher interest rates hard. Lennar (LEN -3.9%), D.R. Horton (DHI -3.3%), Pulte (PHM -3.1%), Toll Brothers (TOL -3.3%).
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  • Apr. 25, 2013, 3:24 PM
    The Homebuilder ETF (XHB +1.2%) gains after PulteGroup (PHM +5.5%) reported Q1 closings up 23%, with the average selling price up 10%. Meritage Homes (MTH +1.1%) yesterday reported a 17% increase in prices, while Ryland Group (RYL +6.7%) last night said its average price rose 8.2%. "Housing demand is greater than the supply of homes available for sale in many of the areas where we operate," says Meritage CEO Steven Hilton.
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  • Mar. 22, 2013, 1:05 PM
    The mREITs are back in favor after the Fed's QE∞ hit interest margins in Q4. A widening yield curve helps, but managements weren't powerless either. Share buybacks below book and altered business plans - Annaly's purchase of CreXus for one, others upping exposure to non-agency RMBS another - are sitting well with investors. Up 2.1% today, NLY is trading above book for the first time in a long time.
  • Feb. 7, 2013, 10:54 AM
    CYS Investments (CYS -4.1%) leads the mortgage REIT sector lower after last night's earnings. "The opportunities ... are quite a bit narrower," says CEO Kevin Grant on the earnings call (transcript), with the net interest spread of 108 bps "a pretty good indicator" of such. On a hopeful note, he thinks D.C. may be turning its focus to the non-agency market, which would take some pressure off agency players such as CYS.
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  • Jan. 17, 2013, 9:25 AM
    A check on the homebuilder ETFs finds both XHB and ITB about 1% higher premarket following the big housing starts number. It's no news multi-family starts were of particular strength (longer-term chart), and Lennar (LEN) got on board this week, announcing its entry into that segment of the business.
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  • Nov. 7, 2012, 9:40 AM
    It's a jittery mortgage REIT sector as last night's election assures the Fed will continue to strangle the leveraged operators' net interest margins. Annaly (NLY -2.8%) - the purest of the pure-play agency REITs - still reeling from Monday's poor earnings, leads to the downside. AGNC -2%, TWO -2.3%, HTS -2.1%.
  • Nov. 6, 2012, 2:44 PM
    "The active involvement of policymakers in the mortgage market ... has introduced unique challenges for all investors," says Annaly (NLY -3.7%) CEO Wellington Denehan-Norris on the earnings call (transcript), not hiding her frustration with all the meddling. Credit Suisse cuts its price target on NLY to $16 from $17. (earlier)
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  • Oct. 31, 2012, 10:23 AM
    In addition to solid earnings and a stock repurchase announcement, American Capital Agency (AGNC +2.5%) basks in the glow of an upgrade to Buy from Hold at Wunderlich. The entire mREIT sector is lit up bright green. MORT +1.6%.
  • Oct. 17, 2012, 9:06 AM
    Several homebuilders get downgraded at Raymond James, among them TOL, MDC, and RYL. All three - along with the rest of the sector - are showing solid premarket gains, however, as the strong housing starts number controls the tape. XHB +2.1% premarket.
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  • Oct. 17, 2012, 8:57 AM
    Annaly (NLY) is upgraded to Buy from Neutral at Compass Point following last night's buyback announcement, "a smart reallocation of capital ... (and) a floor for the share price." Noting likely high prepayment rates, Compass Point says the Fed's continued bid for MBS should keep book values - for Annaly and the rest of the sector - strong. Shares +2.2% premarket.
  • Oct. 10, 2012, 9:46 AM
    Mortgage REITs continue to slide - NLY -1%, AGNC -2%, HTS -2.3%, to name 3 - the sector revaluing itself for what must surely be significant dividend cuts. The Fed's MBS purchases - likely to help book values and dividend maintenance in the short run - are vaporizing net interest margins. Absent a big jump in leverage, returns must fall.
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REZ Description
The iShares FTSE NAREIT Residential Plus Capped Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the FTSE NAREIT All Residential Capped Index.
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