TR Property Investment Trust plc (LON:TRY – Get Rating) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 453.34 ($5.55) and traded as low as GBX 388 ($4.75). TR Property Investment Trust shares last traded at GBX 388 ($4.75), with a volume of 248,615 shares.
The firm has a market capitalization of £1.23 billion and a P/E ratio of 4.37. The company’s 50 day moving average is GBX 420.06 and its 200-day moving average is GBX 453.34. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 7.89.
The business also recently announced a dividend, which will be paid on Tuesday, August 2nd. Investors of record on Thursday, June 23rd will be paid a dividend of GBX 9.20 ($0.11) per share. The ex-dividend date of this dividend is Thursday, June 23rd. This is a positive change from TR Property Investment Trust’s previous dividend of $5.30. This represents a yield of 2.25%. TR Property Investment Trust’s dividend payout ratio is currently 0.16%.
In related news, insider Sarah-Jane Curtis bought 4,772 shares of the business’s stock in a transaction that occurred on Thursday, June 9th. The shares were acquired at an average cost of GBX 417 ($5.11) per share, with a total value of £19,899.24 ($24,374.38).
TR Property Investment Trust Company Profile (LON:TRY)
TR Property Investment Trust plc is a closed-ended equity mutual fund launched by F&C Investment Business Ltd. The fund is managed by Thames River Capital LLP. It invests in public equity markets of Europe. The fund seeks to invest in stocks of companies that are operating in the real estate sector.
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Granite Real Estate Investment Trust (TSE:GRT – Get Rating) Director Remco Daal acquired 1,500 shares of the firm’s stock in a transaction on Thursday, June 16th. The shares were bought at an average price of C$76.50 per share, for a total transaction of C$114,750.00. Following the completion of the transaction, the director now owns 24,500 shares of the company’s stock, valued at C$1,874,250.
Granite Real Estate Investment Trust has a 52-week low of C$30.78 and a 52-week high of C$38.97.
Granite Real Estate Investment Trust (TSE:GRT – Get Rating) last issued its quarterly earnings results on Wednesday, May 11th. The real estate investment trust reported C$7.56 earnings per share for the quarter, topping the consensus estimate of C$1.05 by C$6.51. The business had revenue of C$108.59 million during the quarter.
Granite Real Estate Investment Trust Company Profile (Get Rating)
Granite Real Estate Investment Trust is a real estate investment trust (REIT). It is engaged principally in the acquisition, development, construction, leasing, management and ownership of an industrial global rental portfolio of properties in North America and Europe leased primarily to Magna International Inc and its automotive operating units.
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TR Property Investment Trust plc (LON:TRY – Get Rating)’s share price hit a new 52-week low on Tuesday . The company traded as low as GBX 388.41 ($4.71) and last traded at GBX 389.60 ($4.73), with a volume of 117726 shares traded. The stock had previously closed at GBX 392 ($4.76).
The business’s 50-day simple moving average is GBX 428.61 and its two-hundred day simple moving average is GBX 457.38. The firm has a market cap of £1.24 billion and a price-to-earnings ratio of 4.41. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 7.89.
The company also recently disclosed a dividend, which will be paid on Tuesday, August 2nd. Shareholders of record on Thursday, June 23rd will be given a GBX 9.20 ($0.11) dividend. The ex-dividend date of this dividend is Thursday, June 23rd. This represents a dividend yield of 2.25%. This is an increase from TR Property Investment Trust’s previous dividend of $5.30. TR Property Investment Trust’s dividend payout ratio is 0.16%.
In other news, insider Sarah-Jane Curtis acquired 4,772 shares of the firm’s stock in a transaction on Thursday, June 9th. The stock was acquired at an average price of GBX 417 ($5.06) per share, for a total transaction of £19,899.24 ($24,152.49).
TR Property Investment Trust Company Profile (LON:TRY)
TR Property Investment Trust plc is a closed-ended equity mutual fund launched by F&C Investment Business Ltd. The fund is managed by Thames River Capital LLP. It invests in public equity markets of Europe. The fund seeks to invest in stocks of companies that are operating in the real estate sector.
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Granite Real Estate Investment Trust (TSE:GRT – Get Rating) Director Kevan Stuart Gorrie purchased 150 shares of the company’s stock in a transaction on Friday, June 10th. The stock was acquired at an average price of C$84.38 per share, with a total value of C$12,657.00. Following the purchase, the director now owns 84,528 shares of the company’s stock, valued at C$7,132,472.64.
Kevan Stuart Gorrie also recently made the following trade(s):
- On Monday, May 16th, Kevan Stuart Gorrie purchased 100 shares of Granite Real Estate Investment Trust stock. The stock was acquired at an average price of C$87.93 per share, with a total value of C$8,793.00.
Granite Real Estate Investment Trust has a 12 month low of C$30.78 and a 12 month high of C$38.97.
Granite Real Estate Investment Trust (TSE:GRT – Get Rating) last posted its quarterly earnings results on Wednesday, May 11th. The real estate investment trust reported C$7.56 EPS for the quarter, topping the consensus estimate of C$1.05 by C$6.51. The business had revenue of C$108.59 million during the quarter.
About Granite Real Estate Investment Trust (Get Rating)
Granite Real Estate Investment Trust is a real estate investment trust (REIT). It is engaged principally in the acquisition, development, construction, leasing, management and ownership of an industrial global rental portfolio of properties in North America and Europe leased primarily to Magna International Inc and its automotive operating units.
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Ares Commercial Real Estate Co. (NYSE:ACRE – Get Rating)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $13.16 and last traded at $13.16, with a volume of 3454 shares. The stock had previously closed at $13.74.
Several research analysts recently issued reports on the stock. JMP Securities reissued a “buy” rating and set a $16.50 target price on shares of Ares Commercial Real Estate in a report on Tuesday, May 24th. JPMorgan Chase & Co. boosted their price target on shares of Ares Commercial Real Estate from $14.50 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, April 25th. Finally, StockNews.com assumed coverage on shares of Ares Commercial Real Estate in a research report on Thursday, March 31st. They set a “hold” rating on the stock.
The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 2.57. The company has a market capitalization of $607.21 million, a price-to-earnings ratio of 10.25 and a beta of 1.20. The firm’s fifty day simple moving average is $15.13 and its two-hundred day simple moving average is $14.86.
Ares Commercial Real Estate (NYSE:ACRE – Get Rating) last released its quarterly earnings results on Tuesday, May 3rd. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Ares Commercial Real Estate had a net margin of 58.09% and a return on equity of 9.74%. During the same quarter in the previous year, the company earned $0.38 earnings per share. As a group, analysts forecast that Ares Commercial Real Estate Co. will post 1.38 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 10.94%. This is an increase from Ares Commercial Real Estate’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Wednesday, June 29th. Ares Commercial Real Estate’s payout ratio is 98.51%.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Samalin Investment Counsel LLC purchased a new stake in Ares Commercial Real Estate during the 1st quarter worth approximately $50,000. Selective Wealth Management Inc. purchased a new stake in Ares Commercial Real Estate during the 1st quarter worth approximately $53,000. Penserra Capital Management LLC purchased a new stake in shares of Ares Commercial Real Estate in the 3rd quarter valued at approximately $81,000. Worth Asset Management LLC purchased a new stake in shares of Ares Commercial Real Estate in the 1st quarter valued at approximately $97,000. Finally, LPL Financial LLC purchased a new stake in shares of Ares Commercial Real Estate in the 4th quarter valued at approximately $154,000. 46.66% of the stock is currently owned by hedge funds and other institutional investors.
About Ares Commercial Real Estate (NYSE:ACRE)
Ares Commercial Real Estate Corporation, a specialty finance company, originates and invests in commercial real estate (CRE) loans and related investments in the United States. The company provides a range of financing solutions for the owners, operators, and sponsors of CRE properties. It originates senior mortgage loans, subordinate debt products, mezzanine loans, real estate preferred equity investments, and other CRE investments, including commercial mortgage backed securities.
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Four Corners Property Trust (FCPT – Free Report) recently announced signing a definitive agreement for the purchase of 11 outparcel properties from Pennsylvania Real Estate Investment Trust (PEI – Free Report) , commonly known as “PREIT”, for $32.5 million. The move comes as part of its portfolio-expansion efforts.
However, reflecting broader market concerns, shares of Four Corners marginally declined to $26.66 during Friday’s regular session.
Located within highly trafficked and populated corridors in Maryland, Massachusetts, Pennsylvania and South Carolina, the retail outparcels are likely to keep witnessing solid demand.
The portfolio comprises eight single-tenant restaurant properties and three non-restaurant retail properties and each property has a separate, individual lease. The leases have a current weighted average residual term of roughly eight years. The transaction is priced at a 6.5% going-in cash cap rate, exclusive of transaction costs.
A large chunk of the portfolio is expected to be acquired in the second and third quarters of 2022. However, this is subject to customary closing norms, seller’s board approval and regulatory nods.
According to Bill Lenehan, CEO of FCPT, the company continues its “strategy of identifying low-rent outparcel properties leased to strong credit operators.”
Primarily engaged in the ownership and acquisition of high-quality, net-leased restaurants and retail properties, Four Corners seeks potential acquisition opportunities to enhance its portfolio with real estate catering to the restaurant and retail industries.
In sync with such efforts, the company is also shedding assets and redeploying proceeds for its growth endeavors. Recently, the company announced the disposition of an Olive Garden restaurant property, which is located in Florida and operated by Darden Restaurants, for $6.3 million. In an effort to repurpose proceeds into new investment opportunities, Four Corners plans proceeds redeployment from this move through an Internal Revenue Code Section 1031 like-kind exchange.
Four Corners currently carries a Zacks Rank #4 (Sell). Shares of FCPT have rallied 0.3% over the past three months against the industry’s decline of 8.8%.
Image Source: Zacks Investment Research
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stocks to Consider
Some key picks from the REIT sector include Terreno Realty (TRNO – Free Report) and OUTFRONT Media (OUT – Free Report) .
The Zacks Consensus Estimate for Terreno Realty’s 2022 funds from operations (FFO) per share has marginally moved upward in the past two months to $1.96. TRNO presently carries a Zacks Rank of 2 (Buy).
The Zacks Consensus Estimate for OUTFRONT Media’s ongoing year’s FFO per share has been raised 51.4% over the past two months to $2.09. OUT sports a Zacks Rank #1 currently.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs.
Commercial National Financial Co. (OTCMKTS:CNAF – Get Rating) saw a large decline in short interest in the month of May. As of May 31st, there was short interest totalling 400 shares, a decline of 42.9% from the May 15th total of 700 shares. Based on an average daily trading volume, of 9,400 shares, the short-interest ratio is currently 0.0 days.
Commercial National Financial stock opened at $16.50 on Monday. Commercial National Financial has a 1 year low of $15.51 and a 1 year high of $21.50. The stock has a market cap of $47.19 million, a price-to-earnings ratio of 9.82 and a beta of 0.40. The firm has a 50-day moving average of $17.12 and a two-hundred day moving average of $18.05.
The firm also recently declared a dividend, which was paid on Friday, June 3rd. Stockholders of record on Friday, May 27th were issued a $0.26 dividend. The ex-dividend date of this dividend was Thursday, May 26th. This represents a dividend yield of 6.56%. Commercial National Financial’s dividend payout ratio is currently 61.91%.
Commercial National Financial Company Profile (Get Rating)
Commercial National Financial Corporation operates as a bank holding company for Commercial Bank & Trust of PA that provides various banking products and services in Pennsylvania. The company offers checking, money market investment, and savings accounts; and business-time deposits, as well as certificates of deposit.
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Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust (NYSE:GBAB – Get Rating) saw a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 86,400 shares, a growth of 210.8% from the May 15th total of 27,800 shares. Based on an average daily trading volume, of 95,800 shares, the short-interest ratio is presently 0.9 days.
A number of institutional investors and hedge funds have recently modified their holdings of the business. UBS Group AG lifted its holdings in shares of Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust by 18.7% during the 3rd quarter. UBS Group AG now owns 715,713 shares of the investment management company’s stock valued at $17,521,000 after buying an additional 112,636 shares during the period. Morgan Stanley lifted its holdings in shares of Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust by 9.6% during the 3rd quarter. Morgan Stanley now owns 602,029 shares of the investment management company’s stock valued at $14,738,000 after buying an additional 52,591 shares during the period. Bank of America Corp DE lifted its holdings in shares of Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust by 5.3% during the 1st quarter. Bank of America Corp DE now owns 358,877 shares of the investment management company’s stock valued at $7,138,000 after buying an additional 17,976 shares during the period. Invesco Ltd. lifted its holdings in shares of Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust by 11.3% during the 1st quarter. Invesco Ltd. now owns 213,266 shares of the investment management company’s stock valued at $4,242,000 after buying an additional 21,598 shares during the period. Finally, Raymond James & Associates lifted its holdings in shares of Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust by 3.7% during the 1st quarter. Raymond James & Associates now owns 165,027 shares of the investment management company’s stock valued at $3,282,000 after buying an additional 5,907 shares during the period.
GBAB traded up $0.02 during trading on Friday, hitting $18.40. 47,101 shares of the company’s stock traded hands, compared to its average volume of 91,103. The company’s 50 day simple moving average is $18.88 and its two-hundred day simple moving average is $20.64. Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust has a 12-month low of $17.94 and a 12-month high of $25.34.
The firm also recently announced a monthly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th will be paid a dividend of $0.126 per share. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $1.51 annualized dividend and a yield of 8.22%.
Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust Company Profile (Get Rating)
Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust is a closed ended fixed income mutual fund launched by Guggenheim Partners, LLC. The fund is co-managed by Guggenheim Funds Investment Advisors, LLC and Guggenheim Partners Investment Management, LLC. It invests in fixed income markets of the United States.
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TR Property Investment Trust plc (LON:TRY – Get Rating) insider Sarah-Jane Curtis acquired 4,772 shares of the stock in a transaction on Thursday, June 9th. The shares were bought at an average cost of GBX 417 ($5.23) per share, for a total transaction of £19,899.24 ($24,936.39).
LON TRY traded down GBX 7 ($0.09) on Friday, reaching GBX 407 ($5.10). 1,164,834 shares of the company were exchanged, compared to its average volume of 570,953. The business’s fifty day moving average price is GBX 430.52 and its 200 day moving average price is GBX 459.16. The stock has a market capitalization of £1.29 billion and a P/E ratio of 4.67. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 7.89. TR Property Investment Trust plc has a fifty-two week low of GBX 389.51 ($4.88) and a fifty-two week high of GBX 526 ($6.59).
The company also recently disclosed a dividend, which will be paid on Tuesday, August 2nd. Investors of record on Thursday, June 23rd will be issued a GBX 9.20 ($0.12) dividend. This represents a dividend yield of 2.25%. The ex-dividend date is Thursday, June 23rd. This is an increase from TR Property Investment Trust’s previous dividend of $5.30. TR Property Investment Trust’s payout ratio is currently 0.16%.
About TR Property Investment Trust (Get Rating)
TR Property Investment Trust plc is a closed-ended equity mutual fund launched by F&C Investment Business Ltd. The fund is managed by Thames River Capital LLP. It invests in public equity markets of Europe. The fund seeks to invest in stocks of companies that are operating in the real estate sector.
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Commercial Metals Company (CMC – Free Report) is scheduled to report third-quarter fiscal 2022 results on Jun 16, before the opening bell.
Which Way are the Estimates Headed?
The Zacks Consensus Estimate for the fiscal third-quarter revenues is pinned at $2.36 billion, suggesting growth of 28.1% from the prior-year quarter’s levels. The Zacks Consensus Estimate for earnings per share is pegged at $2.00 for the quarter, indicating a year-over-year increase of 92.3%.
Q2 Performance
In the last reported quarter, the company’s earnings and sales beat the Zacks Consensus Estimates and increased year over year. Commercial Metals has a trailing four-quarter earnings surprise of 15.9%, on average.
What Does Our Model Indicate?
Our proven model conclusively predicts an earnings beat for Commercial Metals this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: The Earnings ESP for Commercial Metals is +10.00%.
Zacks Rank: Commercial Metals currently sports a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Key Factors
Commercial Metals is likely to have benefited from robust demand for finished steel products across most of its product lines in the spring and summer construction season, supported by its growing downstream backlog and solid levels of new construction work entering the project pipeline. The North America segment is likely to have benefited from strong rebar, merchant bar and wire rods demand. In the Europe segment, the Polish construction market is growing on expanding manufacturing activity. These factors and a strong construction backlog in North America, new contract wins and strength across the key end markets in North America and Europe are likely to have supported the finished steel shipment volumes in the fiscal third quarter.
Commercial Metals’ network-optimization efforts and cost-reduction initiatives are likely to have contributed to margin performance during the quarter under review. The company has been implementing price hikes across its mill products in response to the rapidly-rising scrap costs.
Price Performance
Commercial Metals’ shares have appreciated 18.6% in the past year against the industry’s decline of 6.7%.
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Stocks Worth a Look
Here are some stocks worth considering as these have the right combination of elements to post an earnings beat this quarter.
AutoNation, Inc. (AN – Free Report) currently has an Earnings ESP of +2.15% and a Zacks Rank of 1. The Zacks Consensus Estimate for second-quarter 2022 earnings has moved up in the past 60 days and is currently pegged at $5.95 per share. This suggests year-over-year growth of 23.2%.
The Zacks Consensus Estimate for quarterly revenues is pegged at $6.8 billion, indicating a decline of 1.6% from the prior-year quarter’s levels. AutoNation has a trailing four-quarter earnings surprise of 27.4%, on average.
F.N.B. Corporation (FNB – Free Report) currently has an Earnings ESP of +2.76% and a Zacks Rank of 2. The Zacks Consensus Estimate for second-quarter 2022 earnings is currently pegged at 30 cents per share, suggesting a 3.2% decline from the year-ago quarter’s tally. The same has moved up in the past 60 days.
The Zacks Consensus Estimate for F.N.B. Corp’s quarterly revenues is pinned at $332 million, indicating a year-over-year increase of 7.8%.
The Kroger Co. (KR – Free Report) currently has an Earnings ESP of +1.21% and a Zacks Rank #3. The Zacks Consensus Estimate for first-quarter fiscal 2023 earnings have undergone upward revisions in the past 60 days and is currently pegged at $1.27 per share. This suggests year-over-year growth of 6.7%.
The Zacks Consensus Estimate for Kroger’s quarterly revenues is pegged at $43.8 billion, indicating year-over-year growth of 6%. KR has a trailing four-quarter earnings surprise of 22%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.