Homeowners Gaining Equity, But at Slower Pace
The average homeowner with a mortgage saw a gain in equity of $12,400 in the third quarter of last year and this year, according to CareLogic. Unfortunately, that is down from the $16,000 in gains from the second quarter and the smallest gain in two years.
"On average, homeowners saw their home equity increase again this quarter but not nearly as much as in previous quarters," said Frank Nothaft, chief economist at CoreLogic. "This lower year-over-year gain reflects the slowing in appreciation we've seen in the CoreLogic Home Price Index."
At the end of the third quarter, 43.6 million homeowners with mortgages had equity available to draw — about 272,000 fewer than in the second quarter. The average homeowner had $136,000 available, which was about $2,300 less than in the second quarter.
Notable companies
The most notable companies in this group are PROLOGIS (NYSE:PLD), American Tower Corp (NYSE:AMT), Simon Property Group (NYSE:SPG).
Industry description
The investment seeks long-term growth through a combination of capital appreciation and current income.
The fund normally invests at least 80% of its net assets (including any borrowings for investment purposes) in the equity securities of real estate companies. It is likely to maintain a significant portion of assets in real estate investment trusts (REITs). REITs pool money to invest in properties (equity REITs) or mortgages (mortgage REITs). The fund generally invests in equity REITs. It is non-diversified.
Market Cap
The average market capitalization across the T. Rowe Price Real Estate MF is 58.23B. The market cap for tickers in the group ranges from 12.28B to 117.67B. WELL holds the highest valuation in this group at 117.67B. The lowest valued company is ELS at 12.28B.
Volume
The average weekly volume growth across all stocks in the T. Rowe Price Real Estate MF was -45%. For the same stocks of the MF, the average monthly volume growth was -32% and the average quarterly volume growth was -9%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Valuation Rating: 77
P/E Growth Rating: 60
Price Growth Rating: 47
SMR Rating: 59
Profit Risk Rating: 55
Seasonality Score: 46 (-100 ... +100)
