Norway $1 trillion wealth fund to cut back on real estate
Norway's $1 trillion wealth fund, one of the world's largest, says it will pull back on some of its global real estate investing. The fund says it will focus more on listed real estate companies a way of cutting costs and simplifying its approach after struggling to find properties to buy amid near record prices. It lowered its target for real estate in its portfolio to 3 to 5 percent from 7 percent.
The management should be “cost-effective” and “fairly simple” which means having “an overall property strategy with somewhat greater emphasis on listed holdings,” Egil Matsen, the deputy governor at Norway’s central bank who’s in charge of oversight of the fund. The fund says it will now disband its real estate unit, which has been built up to about 130 employees out of a total 570 at the fund.
ARI's Stochastic Oscillator slumps into oversold zone
The Stochastic Oscillator for ARI moved into oversold territory on July 26, 2024. Be on the watch for the price uptrend or consolidation in the future. At that time, consider buying the stock or exploring call options.
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Notable companies
The most notable companies in this group are PROLOGIS (NYSE:PLD), American Tower Corp (NYSE:AMT), Simon Property Group (NYSE:SPG), Annaly Capital Management (NYSE:NLY), Rithm Capital Corp (NYSE:RITM), Tanger (NYSE:SKT), Innovative Industrial Properties (NYSE:IIPR).
Industry description
A real estate investment trust (REIT) is a company any that owns, and in most cases, operates, income-producing real estate – ranging from office and apartment buildings to warehouses, hospitals, shopping centers, hotels and timberlands. Some REITs are involved in financing real estate. Equity REITs invest in and own properties, while mortgage REITs own and invest in property mortgages. REITs are required by law to pay out at least 90% of their annual taxable income (excluding capital gains) to shareholders in the form of dividends. Some REITs could be more cyclical than others; for example, when an economy is undergoing a recession, hotel REITs could be more vulnerable, compared to say healthcare REIT given that healthcare needs are less likely to depend on economic cycles. American Tower Corporation, Prologis, Inc. and Crown Castle International Corp are some of the biggest REIT companies in the U.S.
Market Cap
The average market capitalization across the Real Estate Investment Trusts Industry is 5.33B. The market cap for tickers in the group ranges from 51.9K to 243.79B. COFRF holds the highest valuation in this group at 243.79B. The lowest valued company is PDNLB at 51.9K.
High and low price notable news
The average weekly price growth across all stocks in the Real Estate Investment Trusts Industry was 1%. For the same Industry, the average monthly price growth was 7%, and the average quarterly price growth was 2%. PW experienced the highest price growth at 36%, while HHDS experienced the biggest fall at -62%.
Volume
The average weekly volume growth across all stocks in the Real Estate Investment Trusts Industry was 13%. For the same stocks of the Industry, the average monthly volume growth was 47% and the average quarterly volume growth was 40%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Valuation Rating: 50
P/E Growth Rating: 50
Price Growth Rating: 52
SMR Rating: 79
Profit Risk Rating: 85
Seasonality Score: 14 (-100 ... +100)