SAN DIEGO, Sept. 27, 2022 (GLOBE NEWSWIRE) — KULR Technology Group, Inc. (NYSE American: KULR) (the “Company” or “KULR”), a leading developer of next-generation lithium-ion (“Li-ion”) battery safety and thermal management technologies, has received an order from a leading Fortune 500 commercial aviation company for its holistic suite of safe battery products and services.
The aviation customer has enlisted KULR to provide its suite of battery design and safety solutions in the development of its new electric vertical takeoff and landing (“eVTOL”) aircraft. KULR expects this order to be the first of several from the customer, as the implementation of KULR’s products and services will be fundamental in the testing and evaluation of the customer’s battery-powered aircraft design.
“Our engagement with this top-tier commercial aviation company underscores the value KULR brings to our partners in the fast-growing e-mobility industry,” said Michael Mo, KULR’s CEO. “KULR’s holistic set of services and products for safe battery design facilitates faster certification for customers in the electric aviation and eVTOL space.”
As the advanced air mobility (AAM) market continues to rapidly expand, KULR’s holistic suite of solutions will play a critical role in enabling industry leaders to accelerate electrification. According to McKinsey, the leading companies in the passenger AAM industry are projected to have larger fleets of around 1,000 aircrafts, offering more flights per day than the world’s largest airlines by 2030. Similarly, Acumen Research and Consulting reports that “the global eVTOL market size accounted for USD 6,937 Million in 2021 and is estimated to achieve a market size of USD 30,519 Million by 2030 growing at a CAGR of 18.3 percent from 2022 to 2030.”
KULR’s holistic suite of battery safety and thermal energy management products and services include: Passive Propagation Resistant (“PPR”) design and testing, Internal Short Circuit (“ISC”) trigger cells, Fractional Thermal Runaway Calorimeter (“FTRC”) testing and an AI-powered CellCheck battery management system.
About KULR Technology Group Inc.
KULR Technology Group Inc. (NYSE American: KULR) develops, manufactures and licenses next-generation carbon fiber thermal management technologies for batteries and electronic systems. Leveraging the company’s roots in developing breakthrough cooling solutions for NASA space missions and backed by a strong intellectual property portfolio, KULR enables leading aerospace, electronics, energy storage, 5G infrastructure, and electric vehicle manufacturers to make their products cooler, lighter and safer for the consumer. For more information, please visit www.kulrtechnology.com
Safe Harbor Statement
This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed with the Securities and Exchange Commission on March 28, 2022. Forward-looking statements include statements regarding our expectations, beliefs, intentions, or strategies regarding the future and can be identified by forward-looking words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” and “would” or similar words. All forecasts are provided by management in this release are based on information available at this time and management expects that internal projections and expectations may change over time. In addition, the forecasts are entirely on management’s best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
Tom Colton or John Yi
Main: (949) 574-3860
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Main: (949) 574-3860
To expand its property base in targeted thriving markets, Gladstone Commercial Corporation (GOOD – Free Report) shelled out $13.6 million in total for purchasing two industrial assets in Jacksonville, FL and Fort Payne, AL.
The acquisition comes as part of GOOD’s strategy of expanding on the buyouts of functional assets in thriving industrial locations, which are leased to tenants with solid credit profiles.
However, reflecting broader market concerns, shares of Gladstone Commercial declined 1.82% to $16.69 during Friday’s regular trading session.
Gladstone Commercial purchased the Jacksonville asset in a sale/leaseback transaction with twenty years of remaining absolute NNN term. The other asset, which is in Fort Payne, was acquired through a UPREIT transaction and carries 14.8 years of residual NNN term.
The addition of these mission-critical industrial facilities in growth markets has helped GOOD improve the weighted average lease term and increase its industrial concentration. This is likely to help the company generate stable revenues for a long period.
Gladstone Commercial is currently focused on expansions. From the beginning of the year through Aug 31, 2022, the company shelled out $83.9 million as the total cost for the acquisition of 988,303 square feet of industrial real estate. These consisted of nine properties and five tenants with an average remaining lease term at acquisition of 9.1 years.
Moreover, Gladstone Commercial has been witnessing active leasing, aiding solid occupancy, healthy rental collections and ample liquidity to back its acquisitions and growth efforts. As of Aug 31, 2022, Gladstone Commercial’s portfolio occupancy was 96.9% due to successful leasing activities. The company collected 100% of the August cash base rent. The healthy levels of rental receipts have enabled GOOD to maintain its dividend rate.
However, shares of this Zacks Rank #3 (Hold) company have declined 12.3% in the past three months, wider than its industry’s fall of 10.3%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Image Source: Zacks Investment Research
Stocks to Consider
Prologis holds a Zacks Rank of 2 (Buy) at present. Prologis’ 2022 revenues are expected to increase 7.6% year over year. The Zacks Consensus Estimate for PLD’s 2022 funds from operations (FFO) per share has been revised marginally upward in the past two months to $5.17.
The Zacks Consensus Estimate for Extra Space Storage’s 2022 FFO per share has moved four cents north to $8.49 in the past week. Extra Space Storage’s 2022 revenues are expected to increase 19.7% year over year. Currently, EXR carries a Zacks Rank of 2.
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.
W.W. Grainger, Inc. (GWW – Free Report) is poised well to benefit from strong momentum in the High-Touch Solutions and Endless Assortment segments. Efforts to strengthen customer relationships and investments in growth initiatives will continue to support the top line. Benefits from price realization and cost-reduction actions will boost margins. These factors make the stock a solid investment option.
Grainger currently has a Zacks Rank #2 (Buy) and a VGM Score of B. Our research shows that stocks with a VGM Score of A or B combined with a Zacks Rank #1 (Strong Buy) or 2, offer the best investment opportunities. You can see the complete list of today’s Zacks #1 Rank stocks here.
Solid Q2 Results: Grainger’s earnings and sales beat the Zacks Consensus Estimates in the second quarter of 2022 and also improved year over year. Results were driven by bullish demand in both the High-Touch Solutions N.A. and Endless Assortment segments.
Stellar Earnings Surprise History: Grainger‘s bottom line surpassed the Zacks Consensus Estimate in all the trailing four quarters. GWW has a trailing four-quarter earnings surprise of 7.95%, on average.
Positive Expectations: Earnings estimate for the current year is pegged at $28.04, suggesting growth of 41.5% from the year-ago reading. The estimate for 2023 stands at $29.67, indicating growth of 5.7% from the year-earlier actuals.
Upbeat View: Grainger projects current-year net sales between $15 billion and $15.2 billion. In 2021, GWW had reported sales of $13 billion. Management expects total daily sales growth between 14.5% and 16.5%. Its earnings per share guidance for 2022 is in the band of $27.25-$28.75, indicating growth of 41% at the midpoint from the year-ago reported figure. GWW’s margin will continue to gain traction from an improved pandemic product mix and pricing actions. Also, its strategic initiatives are driving growth.
High Return on Equity: Grainger’s trailing 12-month ROE supports its potential. Its ROE of 57.6% compares favorably with the industry’s average ROE of 8.7%, reflecting that it efficiently utilizes its shareholders’ funds.
Underpriced a Boon: Grainger’s price-to-earnings ratio shows that shares are underpriced at the current level, which is attractive for investors. GWW has a trailing P/E ratio of 18.01, below the industry average of 19.08.
Price Performance: Shares of Grainger have gained 19% in the past three months compared with the industry’s growth of 7.5%.
Image Source: Zacks Investment Research
In the High Touch Solutions North America (N.A) segment, Grainger is witnessing revenue growth in nearly all the end markets. The upside can be attributed to double-digit revenue growth across all the North American regions and expansion in both the large and midsize customer base. The segment will continue to benefit from pricing actions and strength in the commercial, transportation and heavy manufacturing end markets.
The Endless Assortment segment gains from a strong customer acquisition at the Zoro and MonotaRO businesses. In 2022, Zoro’s business is expected to grow in the high teens, reflecting the addition of 2 million Stock Keeping Units (SKU) and focus on acquiring and retaining high-value customers.
Grainger’s High-Touch Solutions market continues to outpace the U.S. maintenance, repair and operating (MRO) market, supported by the constant traction of its growth initiatives. For the current year, GWW expects the High-Touch Solutions market to grow between 15.4% and 15.8%, up 300-400 basis points from the estimated U.S MRO market growth of 4-7%. Strategic activities, such as building advantaged MRO solutions, delivering unparalleled customer service, and offering differentiated sales and services will aid growth.
GWW saw strong growth in non-pandemic product sales as the U.S. economy recovered. Grainger is investing in the non-pandemic product inventory and partnering with suppliers to mitigate supply-related challenges, inbound lead time challenges and possible cost increases.
Grainger is also focused on improving the end-to-end customer experience by investing in its e-commerce and digital capabilities, and executing initiatives to better the supply chain. GGG continues to develop online capabilities that promote a personalized, relevant, effortless experience for each customer through Grainger.com, eProcurement connections, 1 solutions and mobile applications.
Other Stocks to Consider
Other top-ranked companies from the Industrial Products sector are discussed below:
ROLL’s earnings estimates have increased 31.1% for fiscal 2023 (ending March 2023) in the past 60 days. Its shares have surged 30% in the past three months.
In the past 60 days, Valmont’s earnings estimates have increased 4.3% for 2022. The stock has rallied 24.7% in the past three months.
GEF’s earnings estimates have increased 4.6% for fiscal 2022 (ending October 2022) in the past 60 days. Its shares have risen 10.2% in the past three months.
Magna International (MGA – Free Report) recently announced its $77-million investment in Yulu Bikes, India’s largest technology-driven electrified shared mobility provider. Magna’s investment marks its entry into the rapidly-growing micromobility market.
Magna will own a stake and hold a seat on the board of the India-based company. The two companies will establish a new battery-swapping entity. The new Battery-as-a-Service (BaaS) entity will be known as Yulu Energy. It will create a nationwide battery charging and swapping infrastructure, likely reducing the upfront cost of buying EVs and expediting the transition to electric mobility in India.
The entity will leverage Magna’s expertise in design, engineering and manufacturing, and Yulu’s market strength in India and its software know-how. Magna will function as the exclusive battery-swapping provider for Yulu’s customers and support the buildup of the infrastructure required for millions of swaps per week.
Yulu raised $82 million from the investment drive led by Magna. Another prominent investor, Bajaj Auto, also participated in the funding. The company plans to utilize the funds to strengthen its market position through product and technology innovation. Presently, the e-bike startup operates around 10,000 low-speed electric two-wheelers in India’s Bangalore, Delhi, and Mumbai. It targets an additional 15 cities in the next 18 months. The company intends to increase its EV fleet to more than 100,000 and over 500 battery-charging and swapping stations in the next 12 months.
The venture is expected to be a springboard of growth for Yulu in the mobility-as-a-service (MaaS) and battery-as-a-service (BaaS) businesses in the next three to four years. It aims to establish an agile supply chain to ramp up operations shortly.
Yulu, founded in 2017, offers last-mile connectivity to travelers via its electric bikes. Through its shareable, low-speed, electric two-wheelers it facilitates accessible, sustainable urban mobility in India. The startup also operates a network of EV charging and battery swapping network.
Magna sees it as a vital step in its contribution toward a sustainable e-mobility future.
To cater to the demand in last-mile delivery, Magna has also inked an agreement with the autonomous robotics company, Cartken. Per the deal, MGA will manufacture Cartken’s autonomous delivery, thus aiding in offering sustainable and cost-effective solutions for last-mile delivery challenges.
In another development, Magna will showcase its latest electrification transformation at the upcoming IAA Transportation 2022 event in Hanover, Germany, held from Sep 20 to Sep 25, 2022. IAA is the largest global trade fair for mobility, transport and logistics.
At the show, Magna will demonstrate a range of technologies concerned with the electrification of the commercial vehicle industry.
Magna’s electrification portfolio, which includes EtelligentEco, EtelligentForce and EtelligentReach, is aiding top-line growth. One of the major highlights of Magna’s show will be the first public display of its EtelligentForce technology in Europe. This advanced battery-electric vehicle (BEV) powertrain system features the full capabilities of light commercial vehicles without compromising payload or towing capacities. The system is great for European vans and light commercial vehicles with high payloads.
There will be scope for exploring additional sustainability innovations as well. These include energy storage systems with battery enclosures in steel, aluminum and multi-material configurations to fit different vehicle segments, thermoplastic, recyclable liftgate systems for mass reduction and its pre-series all-electric airport fire fighting vehicle Panther.
Magna’s initiatives in bolstering its capacity in the light commercial vehicle market, going beyond passenger vehicles, add to sustainable solutions and augur well for its long-term growth.
Shares of Magna have lost 27.8% in the past year compared with its industry’s decline of 37.9%.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
MGA carries a Zacks Rank #3 (Hold), currently.
Some better-ranked players in the auto space include Yamaha Motor Co. (YAMHF – Free Report) , sporting a Zacks Rank #1 (Strong Buy), and BorgWarner (BWA – Free Report) and Tesla Inc. (TSLA – Free Report) , each carrying a Zacks Rank #2 (Buy), currently. You can see the complete list of today’s Zacks #1 Rank stocks here.
Yamaha has an expected earnings growth rate of 1% for 2023. The Zacks Consensus Estimate for current-year earnings has been revised 11.6% upward in the past 30 days.
Yamaha’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed in one. YAMHF pulled off a trailing four-quarter earnings surprise of 47.95%, on average. The stock has declined 26.7% over the past year.
BorgWarner has an expected earnings rate of 2.9% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised 0.7% upward in the past 30 days.
BorgWarner’s earnings beat the Zacks growth Consensus Estimate in all the trailing four quarters. BWA pulled off a trailing four-quarter earnings surprise of 29.45%, on average. The stock has declined 11.7% in the past year.
Tesla has an expected earnings growth rate of 76.5% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised 1% upward in the past 30 days.
Tesla’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters. TSLA pulled off a trailing four-quarter earnings surprise of 32.17%, on average. The stock has increased 17.7% in the past year.
Gladstone Commercial Corporation (GOOD – Free Report) has been witnessing active leasing, aiding solid occupancy, healthy rental collections and ample liquidity to back its acquisitions and growth efforts.
As of Aug 31, 2022, Gladstone Commercial’s portfolio occupancy was 96.9% due to successful leasing activities. Moreover, Gladstone Commercial collected 100% of the August cash base rent. The healthy levels of rental receipts have enabled GOOD to maintain its dividend rate.
Gladstone Commercial is also focused on expansion. In August, the company acquired a 246,000-square-foot, two-property, industrial portfolio in Vineland, NJ, and Bridgeton, NJ, for $32.5 million in a 15-year sale/leaseback transaction.
So far in the year, the company shelled out $83.9 million as the total cost for the acquisition of 988,303 square feet of industrial real estate. These consisted of nine properties and five tenants with an average remaining lease term at acquisition of 9.1 years.
Recently, GOOD sold its 60,000-square-foot Parsippany, NJ, office building, realizing a leveraged internal rate of return of around 15% on the property, which was acquired in 2011. The move came as part of the company’s capital recycling efforts, allowing the company to redeploy capital into industrial real estate. Also, the company sold its 25,000-square-foot office property in Boston Heights, Ohio.
Gladstone Commercial is also witnessing healthy demand for its properties. Recently, the company executed a five-year, four-month lease with Moss & Associates LLC for 47,566 square feet of space at its 119,224-square-foot office building in Fort Lauderdale, FL. Also, GOOD executed a five-year lease renewal with Corning, Inc. at its 120,000-square-foot industrial building in Horseheads, NY.
So far in the year, GOOD extended or executed 501,501 square feet of space, covering nine tenants with an average residual lease term of 8.1 years. The annualized straight-line rent of these transactions amounts to $5.8 million.
Further, management noted that as of Aug 31, 2022, the company’s available liquidity was $84.9 million consisting of a revolving credit facility and cash in hand. Gladstone Commercial amended, extended and upsized its syndicated revolving credit and term loan facility to $480 million from $325 million. GOOD used the net proceeds for paying down mortgage loans and borrowings under its revolving credit facility.
Since Jan 1, 2022 and through Aug 31, 2022, the company issued 1,992,706 shares of common stock for net proceeds of $40.6 million. Such an amount of liquidity supports Gladstone Commercial’s growth strategy.
Shares of this Zacks Rank #3 (Hold) company have declined 6.4% in the past three months compared with the industry’s fall of 6.6%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Image Source: Zacks Investment Research
Stocks to Consider
The Zacks Consensus Estimate for Extra Space Storage’s ongoing year’s funds from operations (FFO) per share has been raised 1.9% over the past month to $8.46. EXR sports a Zacks Rank #1.
The Zacks Consensus Estimate for Host Hotels & Resorts’ 2022 FFO per share has moved 4.2% upward in the past month to $1.75. HST presently carries a Zacks Rank of 2 (Buy).
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.
The US stock market is in the grip of bears while investors look for signs of a sustained reversal of stock prices. Investors look for opportunities to start investing in the stock market amidst the bear market environment so as to pick stocks at a bargain. Trying to time the market has been proved futile several times but still, many investors wait to pick stocks at the market bottom. But, where lies the bottom of the market can be known only in hindsight.
Inflation may be seen to be cooling down but it is not yet in a comfortable zone. Fed rate hikes are a reality but the pace of such rate hikes is still unknown. “So far in 2022, the Fed has raised interest rates four times, with rates presently at 2.25% / 2.5%. Despite this week’s somewhat lower inflation estimate, it is probable that another hike will occur in September, and further raises are possible,” says Dan Ashmore, investing expert at Invezz.
Here’s how rising inflation and hike in rates impact stock market investments. In a higher interest rate environment, individuals and companies cut down on their borrowings impacting investments in the economy and high inflation curtails demand for goods and services as purchases get postponed. Both these factors contribute to a fall in the GDP growth rate.
As a result, corporate earnings decline thus impacting stock prices as valuations get revised on the lower side. If that is the case, the bear market environment may continue and recessionary risks could be far greater than it is now. “Once these hikes ripple through the economy, earnings forecasts will drop, and recession will hit or hit harder if you want to say we are there already. The key question is then: “Do the Fed pivot and fire back up the money printer?” Ultimately, this may be more of a political question than an economic one,” adds Ashmore.
The fall of S&P 500, Dow 30 and Nasdaq 10 from their recent highs saw a reversal in June giving some relief to the bulls but after the stern message by Fed Chariman Jerome Powell during the Jackson Hole Economic Policy Symposium 2022, the market is looking to remain volatile at least in September and October 2022.
This means, there could be more downside left for the market and equity value may fall further from the current levels. “This year’s peak-to-trough decline was little more than -24%, below the historic average of -33% during recessions since the Second World War. Historically, such large drawdowns often make for a good time to buy. Sure, the drawdown might be severe (and could still get worse), but over time the market is highly likely to rise back above its current level, especially since the Fed is unlikely to remain on the sidelines if things become truly bad,” says Ashmore.
José Torres, Senior Economist at Interactive Brokers has a different view on the current bear market environment – “The bear market is not over as the FED turns increasingly hawkish during an economic downturn. The hope of a Powell pivot was rejected last Friday as the Chair expressed that economic weakness won’t stop the FED from staying “high for longer”. The FED is effectively tightening during an economic downturn, which implies equity and bond underperformance in the coming months.”
Whether the market turns more bearish or makes a reversal from the current levels remains to be seen. The bear market gives an opportunity to investors to accumulate quality stocks at reasonable valuations. “With a time horizon long enough – and that is the key – it’s a nice time to buy. But everybody is different, with different financial goals, risk tolerances, and time horizons. If your time horizon is not long-term, it’s a whole different ball game,” suggests Ashmore.
Between pandemic lockdowns, health scares, contentious politics and significant inflation with rising prices, many U.S. investors might feel they’re losing control of their situations. Add to that a bear market for stocks, with a possible recession looming.
To remain resilient, we can focus on caring for our physical, mental and financial wellness — and that of our families. We can act now to prepare for tough times over the short-term and protect long-term financial options. We can find a manageable balance between enjoying our money now and saving for what we need later.
There is some good news. Despite the U.S. stock-market’s fall, bear markets are temporary. While each bear market is unique, they tend to last 11- to 12 months on average and then bounce back. Since 1957, the S&P 500
has gained an average of 2.9% after one month, 5.5% after six months, and 23.9% after one year following the start of a bear market. Bear markets provide opportunities for bargain buys and tax management.
If a recession hits the U.S., it will also be temporary. Since 1945, the National Bureau of Economic Research has documented 13 recessions, and they lasted 10.3 months on average. The last significant recession from 2007 to 2009 lasted 18 months.
While economists are in a “wait and see” mode regarding a recession, now is the time to act and brace for potential impacts. Here are five ways to manage:
1. Know where you stand financially, beginning with cash flow: Are you earning enough money monthly to cover your expenses? Income minus expenses equals cash flow. When your income exceeds your expenses, you have positive cash flow. You need positive cash flow to pay down debt or increase savings. Are you cash-flow positive or negative? You can improve your cash flow by increasing income, decreasing expenses, or a combination of the two.
“ Take temporary measures to bolster your finances by paying down credit balances or growing your emergency fund. ”
2. Increase your income: If you are financially stressed, improve your cash flow by taking extra shifts, getting a second job or building your side business. Given that a recession is possible, diversifying your income streams provides backup if you lose your primary income. You don’t have to do this forever. Take temporary measures to bolster your finances by paying down credit balances or growing your emergency fund.
3. Cut your expenses with an open mind and critical eye: If you have negative cash flow and are worried about your finances, look hard at cutting costs. With inflation, you may be tapping into savings to cover rising costs. This is not sustainable.
Look at all aspects of your life, starting with housing. How could you reduce your monthly housing costs? Think through temporary or permanent possibilities. Could you rent part of your home to subsidize your mortgage and utilities? Sell your home and excess belongings for a smaller place or lower-cost location? Work remotely in a less expensive country?
Next, look at transportation and food. Can you sell your vehicle, or trade your newer car for a less-expensive model, without a car payment? Carpool more? Food prep weekly to avoid ordering takeout? While some of these are not easy decisions, especially if you have children, taking proactive and creative measures can provide additional savings and peace of mind.
4. Find a balance between enjoying your money now and saving for future needs: Life is more than hard work now to enjoy later. Living for today while saving for tomorrow is a balance with tradeoffs. Visit that coffee shop if it helps you through the day — and if you have the income to cover the expense. You want to take a family trip? Great, go and enjoy if you’ve got the means. Or, enjoy low-cost local activities with family and friends, and apply the staycation savings toward a future goal such as funding your retirement account. Creating memories does not require luxury vacations and fancy restaurants.
5. Use the bear market to improve your tax situation: A bear market is an ideal time to convert a taxable traditional IRA to a Roth IRA. Say you contributed $6,000 to your traditional IRA in 2020. You bought 60 shares of an ETF or mutual fund for $100 per share. In this bear market, the shares are now $75 each, and your total investment is worth $4,500. While difficult to stomach, this is an opportunity.
When converting a traditional IRA into a Roth IRA, you pay taxes on the current value to convert your portfolio into a tax-free asset. Roth withdrawals are tax-free, unlike a traditional IRA. By converting now, you pay less tax on the new $4,500 value instead of the original cost.
Additionally, you can trim your tax bill by selling devalued equities to record a loss. Let’s say you recently sold a rental property that appreciated substantially. You expect a high tax bill on this sale. Knowing this, you can sell equities at a loss to offset the property’s taxable gain.
Or suppose you invested $30,000 to buy 500 shares of a small-cap ETF at $60 per share. The shares are now $45 each, for a total value of $22,500. You sell these for a $7,500 loss, a line item on your 2022 tax return. You can then reinvest the $22,500 in a similar small-cap ETF (its price also weakened) to stay in the market while still receiving the tax benefit.
The economy and market, through their cycling, take us on wild, unpredictable rides. This time around, the end is not quite in sight, but this too shall pass. By taking proactive and creative actions to manage through this cycle, you will be better prepared to meet your current needs and protect your long-term financial health.
Michael J. Garry is a certified financial planner who heads Yardley Wealth Management, LLC in Yardley, Pa. He is author of two books, “The Smart Person’s Guide to Financial Planning & Investments: A Simple and Straightforward Approach to Understanding Your Personal Finances,” and “Independent Financial Planning: Your Ultimate Guide to Finding and Choosing the Right Financial Planner.”
Ediston Property Investment Company plc (LON:EPIC – Get Rating)’s stock price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of GBX 77.16 ($0.95) and traded as high as GBX 78.60 ($0.96). Ediston Property Investment shares last traded at GBX 78 ($0.96), with a volume of 73,815 shares.
Ediston Property Investment Trading Down 0.8 %
The stock has a market cap of £164.84 million and a price-to-earnings ratio of 458.82. The company has a debt-to-equity ratio of 54.36, a quick ratio of 22.33 and a current ratio of 22.33. The business has a 50-day simple moving average of GBX 77.16 and a two-hundred day simple moving average of GBX 78.86.
Ediston Property Investment Dividend Announcement
The firm also recently declared a dividend, which will be paid on Wednesday, August 31st. Investors of record on Thursday, August 11th will be paid a GBX 0.42 ($0.01) dividend. This represents a yield of 0.53%. The ex-dividend date is Thursday, August 11th. Ediston Property Investment’s dividend payout ratio (DPR) is presently 28.92%.
Ediston Property Investment Company Profile
Ediston Property Investment Company plc a real estate investment trust externally managed by Ediston Properties Ltd. The firm invest in commercial property of United Kingdom. It was founded in 2014 and is based in Edinburgh, United Kingdom.
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M.P. Evans Group PLC (LON:MPE – Get Rating)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 914.33 ($11.02) and traded as low as GBX 806 ($9.71). M.P. Evans Group shares last traded at GBX 810 ($9.76), with a volume of 22,993 shares trading hands.
Wall Street Analysts Forecast Growth
Separately, Peel Hunt reissued a “buy” rating and set a GBX 1,140 ($13.73) target price on shares of M.P. Evans Group in a research note on Tuesday, April 12th.
M.P. Evans Group Stock Down 1.7 %
The company has a market cap of £442.72 million and a PE ratio of 613.64. The company has a debt-to-equity ratio of 15.97, a quick ratio of 1.68 and a current ratio of 2.13. The stock’s 50 day moving average price is GBX 914.91 and its 200-day moving average price is GBX 914.33.
Insider Buying and Selling
In related news, insider Michael Sherwin purchased 2,250 shares of the company’s stock in a transaction dated Friday, July 8th. The shares were purchased at an average price of GBX 885 ($10.66) per share, with a total value of £19,912.50 ($23,990.96).
About M.P. Evans Group
M.P. Evans Group PLC, through its subsidiaries, engages in the ownership, management, and development of oil palm plantations in Indonesia. It operates through Plantation Indonesia and Property Malaysia segments. The company produces crude palm oil and palm kernels. It is also involved in the property development; and oil-palm fresh fruit bunches production businesses, as well as provision of agronomic and management consultancy services.
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AvalonBay Communities, Inc. (AVB – Free Report) is slated to report second-quarter 2022 earnings on Jul 27 after market close. The company’s quarterly results are likely to reflect growth in revenues and funds from operations (FFO) per share.
In the last reported quarter, this residential real estate investment trust (REIT) delivered an in-line performance in terms of FFO per share. First-quarter results reflected a year-over-year increase in same-store residential revenues, partially offset by rising operating expenses.
Over the last four quarters, AvalonBay surpassed the Zacks Consensus Estimate on three occasions and met the same on the other, the average beat being 1.86%. The graph below depicts the surprise history of the company:
Let’s see how things have shaped up before this announcement.
Factors to Consider
For the U.S. apartment market, the second quarter appears to be a solid one this year with the impressive demand for rental units. AVB, with its high-quality assets in some of the premium markets of the country, is likely to have benefited from the favorable environment.
With the reopening of offices and the returning of lifestyle amenities to established markets, a continued flow of residents is observed in the urban and job-centered suburban markets, which is encouraging. Moreover, de-densification and the desire for more space are resulting in fewer adults per apartment, thereby creating incremental demand for renting units. Also, the higher household income is supporting rent growth. There is strong demand from young adults who are gaining from tight labor market conditions and record wage growth.
Also, due to the high cost of homeownership, the transition from renters to homeowners is difficult, making the renting of apartment units a viable option. With these positives, AvalonBay is expected to have experienced a solid peak leasing session with high occupancy and rent growth.
Per its operational update, AvalonBay reported a 13% increase in same-store residential rental revenues for the two months ended May 31, 2022 compared with the prior-year period. This is roughly 190 basis points higher than the company’s most recent expectation.
In addition to the better-than-expected occupancy and effective lease rates, this upside is driven by favorable underlying resident uncollectible lease revenues and the recognition of higher-than-expected delinquent rent payments from COVID-19 rental assistance programs.
In the second-quarter operating update, AvalonBay also reported that the economic occupancy for its same-store residential communities improved to 96.5% in May from 96.4% in April. This also marked an increase from 96.3% in the first quarter of 2021.
The like-term effective rent change for same-store residential communities improved to 13.8% in May from 13.6% in April. The figure also marked an increase from 12.9% in the first quarter. The like-term effective rent change for AVB’s suburban communities improved to 11.6% in May from 11.4% in April and 10.9% in the first quarter. In case of urban communities, although the like-term effective rent change slightly deteriorated to 18.5% in May from 19.4% in April, it was up from 17.8% in the first quarter.
Region-wise, Southeast Florida reported a whopping 21.4% like-term effective rent change in May, while the Metro NY / NJ and Pacific North West reported a 17.2% and 17.1% like-term effective rent change in May, respectively.
The Zacks Consensus Estimate of $632.00 million for second-quarter revenues suggests a 12.5% year-over-year increase.
Moreover, AvalonBay is banking on technology, scale and organizational capabilities to drive innovation and margin expansion in its portfolio. It is also likely to retain its balance sheet strength.
In the first-quarter earnings release, AvalonBay projected core FFO per share in the range of $2.25-$2.37.
The Zacks Consensus Estimate for the April-June quarter’s FFO per share has moved a cent upward to $2.35 over the past three months. Also, it suggests a year-over-year increase of 18.7%.
Here Is What Our Quantitative Model Predicts:
Our proven model does not conclusively predict a surprise in terms of FFO per share for AvalonBay 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 FFO beat, which is not the case here.
AvalonBay currently carries a Zacks Rank of 3 and has an Earnings ESP of -0.41%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks That Warrant a Look
Here are three stocks from the residential REIT sector — Equity Residential (EQR – Free Report) , UDR Inc. (UDR – Free Report) and Essex Property Trust, Inc. (ESS – Free Report) — that you may want to consider as our model shows that these have the right combination of elements to report a surprise this quarter:
Equity Residential, slated to release second-quarter earnings on Jul 26, has an Earnings ESP of +1.11% and a Zacks Rank of 3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
UDR, scheduled to report quarterly figures on Jul 26, has an Earnings ESP of +0.66% and a Zacks Rank of 2 currently.
Essex Property Trust, slated to report quarterly numbers on Jul 26, has an Earnings ESP of +1.21 % and carries a Zacks Rank of 2.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Note: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs.