5 Stocks Pushing The Real Estate Industry Higher
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model
One out of the three major indices are trading up today with the Dow Jones Industrial Average (^DJI) trading down 3 points (0.0%) at 14,544 as of Monday, April 22, 2013, 12:50 PM ET. The NYSE advances/declines ratio sits at 1,423 issues advancing vs. 1,490 declining with 125 unchanged.
The Real Estate industry currently sits down 0.12 versus the S&P 500, which is up 0.3%. Top gainers within the industry include Newcastle Investment Corporation (NCT), up 2.3%, Brookfield Residential Properties (BRP), up 1.8%, KKR Financial Holdings (KFN), up 2.3% and Vornado Realty (VNO), up 0.6%. On the negative front, top decliners within the industry include Annaly Capital Management (NLY), down 1.41, CBRE Group (CBG), down 0.84, Brookfield Asset Management (BAM), down 0.73, SL Green Realty Corporation (SLG), down 0.91 and AvalonBay Communities (AVB), down 0.62.
TheStreet Ratings group would like to highlight 5 stocks pushing the industry higher today:
5. Icahn (IEP) is one of the companies pushing the Real Estate industry higher today. As of noon trading, Icahn is up $0.82 (1.16) to $70.91 on light volume Thus far, 67,634 shares of Icahn exchanged hands as compared to its average daily volume of 202,500 shares. The stock has ranged in price between $69.40-$70.95 after having opened the day at $70.44 as compared to the previous trading day's close of $70.09.
Icahn Enterprises L.P. engages in the investment, automotive, gaming, railcar, food packaging, metals, real estate, and home fashion businesses in the United States and internationally. Its Investment segment provides investment advisory, and administrative and back office services. Icahn has a market cap of $7.6 billion and is part of the financial sector. The company has a P/E ratio of 18.6, above the S&P 500 P/E ratio of 17.7. Shares are up 56.4% year to date as of the close of trading on Friday.
TheStreet Ratings rates Icahn as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, attractive valuation levels and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk, weak operating cash flow and disappointing return on equity. Get the full Icahn Ratings Report now.