|
Yahoo Daily #s Office Industrial Apartment Retail Mall Health NAREIT Index Factoids MLP Stats Bank Stats Prior REIT Updates May 06 May Retail/HC April 05 April Retail/HC April Off/Ind/Apt March 05 March Off/Ind/Apt March Retail/HC Feb 05 Feb Off/Ind/Apt Feb Retail/HC Jan 04 Jan Off/Ind/Apt Jan Retail/HC Dec 04 Dec Off/Ind/Apt Dec Retail/HC Nov 04 Nov Off/Ind/Apt Nov Retail/HC Oct 04 Oct Off/Ind/Apt Oct Retail/HC Sept 04 Sept Off/Ind/Apt Sept Retail/HC Aug 04 Aug Off/Ind/Apt Aug Retail/HC July 04 July Off/Ind/Apt July Retail/HC June 04 June Off/Ind/Apt June Retail/HC May 04 May Off/Ind/Apt May Retail/HC April Off/Ind/Apt April Retail/HC April 04 March Off/Ind/Apt March Retail/HC March 04 Feb Off/Ind/Apt Feb Retail/HC Feb 04 Jan Off/Ind/Apt Jan Retail/HC Jan 04 Dec Off/Ind/Apt Dec Retail/HC Dec 03 Nov Off/Ind/Apt Nov Retail/HC Nov 03 Oct Off/Ind/Apt Oct Retail/HC Oct 03 Sept Off/Ind/Apt Sept Retail/HC Sept 03 August Off/Ind/Apt August Retail/HC August 03 July Off/Ind/Apt July Retail/HC July 03 Factoids Q3-02 Index Q2-02 Index Q1-02 Index Q4-01 Index Q3-01 Index Q2-01 Index Q1-01 Index Biz Links Business News Columnists Econ Reports Stock Exchanges Searches Tax News REIT Links CPN CSA Globe St. ICSC Real Estate Journal Reis ReBuz RSR NaREIT NREI Property ICSC REIT Week REIT Net NAIOP ShopCntrsToday ShopCntrWrld Ind & Office Realtors Yahoo Sortable REOC List Yahoo Stock Screen Stock Charts |
May Sector Summary During May, the year-to-date Office sector price performance rose to a loss of 3.96% from April's loss of 5.15%. 05 FFO growth estimates ended May with a fall to -4.29% vs. April's fall of -3.56%. Yields fell 7 basis points to 5.83% from April's 5.90%. The year-to-date Industrial sector price performance rose to a loss of 3.72% from April's loss of 6.77%. 05 FFO growth estimates ended May with a fall to -0.65% vs. April's rise of 0.03%. Yields fell 15 basis points to 4.66% from April's 4.81%. The year-to-date Apartment sector price performance rose to a loss of 3.17% from April's loss of 5.29%. 05 FFO growth estimates ended May rising to -0.17% vs. April's fall of -0.51%. Yields fell 11 basis points to 5.40% from April's 5.51%. The year-to-date Shopping Center sector price performance rose to a loss of 2.31% from April's loss of 5.92%. 05 FFO growth estimates ended May with a rise to 0.34% vs. April's rise of 0.17%. Yields fell 19 basis points to 5.16% from April's 5.35%. The year-to-date Mall sector price performance rose to a gain of 1.44% from April's loss of 1.86%. 05 FFO growth estimates ended May with a rise to 2.58% vs. April's rise of 2.01%. Yields fell 14 basis points to 4.43% from April's 4.57%. The year-to-date Health Care sector price performance rose to a loss of 1.33% from April's loss of 5.76%. 05 FFO growth estimates ended May with a fall to 1.61% vs. April's fall of 0.82%. Yields fell 29 basis points to 6.29% from April's 6.58%. In the three other equity income segments followed by this site, Pipeline MLPs were up 3.21% year-to-date [vs being up 4.67% at May's end] and had a distribution yield of 6.16% [vs 5.98% in April] - a rise of 18 basis points. Large-cap banks rose to a loss of 5.59% from April's loss of 6.13% and yields fell 2 basis points to 3.57% from April's 3.59%. Mid-cap banks rose to a year-to-date loss of 5.98% from April's loss of 8.85% and yields ended at 3.56% [vs April's 3.67% - a rise of 9 basis points]. The ten year treasury ended the month at 4.00% [vs 4.20% on 4-29 - a fall of 20 basis points] . Undervaluation is not unique to UDR. Based on both past performance and future projections, why would GBP have a higher valuation than CPT or HME? Based on the same metrics, how can you say that ASN and AVB are worth their current [and very high] Price/FFO valuations? In the April article update [first article in the Apartment section - which is more than half way down the page], WSJ's Ray Smith answers that question - by using housing ownership costs/renting costs comparisons in the markets where ASN, AVB and ESS reside. This is a reminder that some important valuation metrics are not reported here on this page. NOTE: Although the tables above are checked and double-checked for accuracy, and may at times be 100% accurate - do NOT count on that. Please confirm through your own research any numbers on which you are to make a buy, sell or hold decision. Most sites giving this kind of data would say that it's information is for entertainment purposes only. I will not presume that you are that masochistic. And even accurately replicated and freshly retrieved FFO numbers are often stale. The Price to Revenue INDEX figures, due to rounding errors, are not accurate to 3 digits - and as of 3-31-05 are off by a margin of about 5 percent - and I have yet to find the problem. Javascript is expected to be accurate to 5 digits when the calculation is simply x times y. But the complexity of the formula - or a large number of calculations to determine a result - can decrease the number of digits of accuracy. Click here for the Shopping Center, Mall, and Health Care Update page. This months article updates are here. |