Brexit sent capital markets on a wild ride last week—here's how the REIT sector is handling it.
WINNER: NexPoint Residential Trust
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Monday Open: $16.81/share
Friday Close: $17.95/share
Change: 6.78%
NexPoint managed to land the top spot on our list for the second week in a row, though this time with slightly smaller gains. The residential REIT's stocks have been boosted by its $30M stock buyback program, announced last week.
WINNER: City Office REIT
Monday Open: $11.81/share
Friday Close: $12.57/share
Change: 6.43%
City Office (CEO James Farrar pictured) announced a $0.24 dividend this week, after Deutsche bank analysts gave it a "buy" rating with a target price of $14/share. The office REIT has a 50-day moving average of $11.59/share and a 200-day moving average of $11.66/share.
WINNER: Owens Realty Mortgage
Monday Open: $15.66/share
Friday Close: $16.40/share
Change: 4.72%
Owens rounds out our top three list this week, continuing a strong showing in recent months. The mortgage REIT is up 10.3% over the last three months and up 24.1% over the last six months.
LOSER: iStar
Monday Open: $9.91/share
Friday Close: $9.09/share
Change: -8.27%
iStar (CEO Jay Sugarman pictured) was our biggest loser on the week, nearing a double-digit fall after entering into a new $450M senior secured credit facility this week. The mortgage REIT hasn't yet recovered from its early year slump, after starting 2016 at $11.73/share.
LOSER: Hersha Hospitality
Monday Open: $18.39/share
Friday Close: $16.94/share
Change: -7.88%
Hersha saw the biggest chunk of its drop upon opening Friday, where it fell $0.57/share. The lodging REIT has been paying out well for investors, topping estimated earnings/share 75% of the time.
LOSER: FelCor Lodging Trust
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Monday Open: $6.44/share
Friday Close: $6.07/share
Change: -5.74%
FelCor (pictured: CEO Richard Smith, left; COO Troy Pentecost, upper right; and CIO Thomas Hendrick) also dropped on Friday from Thursday's close at $6.46/share. The lodging REIT registered a double-digit increase in short interest this month.
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