Focus Financial Partners, one of the largest buyers of financial advisers' businesses, is getting deeper pockets in the New Year.
The partnership last month gained access to up to $550 million in credit from 10 financiers, led by Bank of America Corp., Focus chief executive Ruediger "Rudy" Adolf said in an interview Tuesday.
The loan facility allows Focus' 27 partner-advisers to open up their wallets and finance a host of acquisitions in the coming months and might spur an increasingly active mergers-and-acquisitions market this year for the businesses of registered investment advisers.
Hot Defense Companies For 2016: iShares Mortgage Real Estate Capped ETF (REM)
iShares FTSE NAREIT Mortgage REITs Index Fund (the Fund) seeks investment results that correspond generally to the price and yield performance of the FTSE NAREIT Mortgage REITs Index (the Index). The Index measures the performance of the residential and commercial mortgage real estate sector of the United States equity market.
The Fund will concentrate its investments in a particular industry or group of industries to approximately the same extent as the Index is so concentrated. The Fund�� investment advisor is Barclays Global Fund Advisors.
Advisors' Opinion:- [By Charles Sizemore]
So, I repeat: use the recent yield spike as an opportunity to scoop up your favorite income investments. If you want to take a modest risk, follow Gundlach�� advice and accumulate mortgage REITs. Your easiest one-stop shop during the market’s taper tantrum would be the iShares Mortgage Real Estate ETF (REM).
- [By Peter F. Way]
An ETF of the mREITs exists, the iShares Mortgage Real Estate Capped (REM). For comparison, its past two-year price history is contrasted with the general market (SPY) and another income alternative the iShares US Preferred Stock ETF (PFF).
- [By Doug Fabian]
The iShares Mortgage Real Estate Capped (REM) is an ETF that contains a basket of the biggest and best mortgage REITs on the market today.
This fund is pegged to the FTSE NAREIT All Mortgage Capped Index, a benchmark measure that includes top names in the space such as Annaly Capital (NLY), American Capital Agency Corp. (AGNC), Starwood Property Trust (STWD) and Two Harbors Investment Corp. (TWO).
- [By Donald van Deventer]
The latest implied forward rate forecast from Kamakura Corporation shows projected 10-year U.S. Treasury yields differing -0.07% to 0.03% from last week while fixed rate mortgage yields varied by -0.01% to 0.08%. Mortgage yields, determined by the Monday through Wednesday weekly survey of the Federal Home Loan Mortgage Corporation, lag Treasury movements simply because of the 3-day yield calculation used in the Primary Mortgage Market Survey. The 10-year U.S. Treasury yield is projected to rise from 2.92% at Thursday's close (down 0.06% from last week) to 3.374% (down 0.06% from last week) in one year. The 10-year U.S. Treasury yield in ten years is forecast to reach 4.639%, 1 basis point lower than last week. The 15-year fixed rate mortgage rate is forecast to rise from the effective yield of 3.69% on Thursday (down 0.001% from last week) to 4.222% (down 0.006% from last week) in one year and 6.29% in 10 years, up 0.038% from last week. We explain the background for these calculations in the rest of this note, along with some mortgage servicing rights metrics. The forecast allows investors in exchange traded U.S. Treasury funds (TLT) (TBT), total return bond funds (BOND), municipal bonds (NUV) and exchange traded mortgage funds (REM) to assess likely total returns over the next 120 months. Treasury-related exchange traded funds affected by the forward rates include:
Best Financial Companies To Buy Right Now: CYS Investments Inc (CYS)
CYS Investments, Inc. is a specialty finance company created with the objective of achieving consistent risk-adjusted investment income. The Company invests in Agency residential mortgage-backed securities (RMBS) collateralized by fixed rate single-family residential mortgage loans (typically 15, 20 or 30 years), adjustable-rate mortgage loans (ARMs), which typically have coupon rates that reset monthly, or hybrid ARMs, which typically have a coupon rate that is fixed for an initial period (typically three, five, seven or 10 years) and thereafter resets at regular intervals. In addition, its investment guidelines permit investments in collateralized mortgage obligations issued by a government agency or government-sponsored entity that are collateralized by Agency RMBS (CMOs), although the Company had not invested in any CMOs as of December 31, 2011.
The Company finances its Agency RMBS investments using a diversified approach involving repurchase agreements with multiple commercial and investment banks. Agency RMBS are residential mortgage pass-through securities, the principal and interest of which are guaranteed by the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac) or the Government National Mortgage Association (Ginnie Mae). Its portfolio of Agency RMBS is backed by fixed rate mortgages and hybrid ARMs that typically have a fixed coupon for three, five or seven years, and then pay an adjustable coupon that generally resets annually over a predetermined interest rate index. As of December 31, 2011, its Agency RMBS portfolio consisted of 10 Year Fixed Rate, 15 Year Fixed Rate, 20 Year Fixed Rate, 30 Year Fixed Rate and Hybrid ARMs. On September 1, 2011, the Company acquired certain assets and entered into agreements to internalize its management (the Internalization).
Advisors' Opinion:- [By Eric Volkman]
CYS Investments (NYSE: CYS ) is being a little more generous this quarter with its common stock payout. The company has declared a quarterly dividend of $0.34 per share for that class of security, to be paid on July 17 to shareholders of record as of June 25. That amount is $0.02 higher than the firm's previous common stock distribution, which was paid in April.
- [By Amanda Alix]
This constant battering of mREITs is understandable, of course, as investors used to seeing big dividends from this sector worry about more cuts to those juicy payouts. Last week, fellow ARM-buyer CYS (NYSE: CYS ) started another upset for mREITs when it also reported a decrease in book value from last quarter of nearly 19%.
- [By Amanda Alix]
Investors were bullish on CYS Investments (NYSE: CYS ) early on Wednesday, apparently expecting great news from the mortgage REIT's second-quarter earnings report. Later in the day, their hopes were quashed, as CYS announced a loss of $402.3 million, or $2.32 per share, compared with a $17.7 million loss, or $0.10 per share, in the previous quarter. One year ago, CYS declared net income of $101.7 million, or $0.87 per share.
Best Financial Companies To Buy Right Now: NMI Holdings Inc (NMIHZ)
NMI Holdings, Inc. (NMIH), incorporated on May 19, 2011, is a development-stage company. The Company through its subsidiaries provides private mortgage insurance in the United States. The Company�� wholly owned subsidiaries include National Mortgage Insurance Corporation and National Mortgage Reinsurance Inc One.
On April 24, 2012, NMI Holdings, Inc. (NMI) closed an agreement with MAC Financial Ltd. to acquire MAC Financial Holdings Corporation and its wholly owned subsidiaries. On September 30, 2013, the Company merged MAC Financial Holding Corporation into NMIH, with NMIH surviving the merger, and it merged NMRI Two into NMIC, with NMIC surviving the merger.
Advisors' Opinion:- [By Zachary Tracer]
NMI Holdings Inc. (NMIHZ), a mortgage insurer backed by funds tied to Carlyle Group LP (CG) and Kyle Bass, filed to sell shares in an initial public offering as investors bet on a housing-market rebound.
Best Financial Companies To Buy Right Now: iShares Transportation Average ETF (IYT)
iShares Dow Jones Transportation Average Index Fund (the Fund) seeks investment results that correspond generally to the price and yield performance of the Dow Jones Transportation Average Index (the Index). The Index measures the performance of the transportation sector of the United States equity market, and includes companies in primary groups, such as airlines, trucking, railroads, air freight, transportation services and industrial services.
The Index is subset of the Dow Jones U.S Total Market Index. The components stocks are weighted based on the price of the component securities, with the highest priced securities generally having higher weighting in the Index. The Index is adjusted to reflect changes in capitalization resulting from mergers, acquisitions, stock rights, substitutions and other capital events. The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. The Fund�� investment advisor is Barclays Global Fund Advisors.
Advisors' Opinion:- [By Gary Jakacky]
One of the real powerful forces behind this four and half year cyclical bull market has been the Dow Jones Transportation Average. After terrorizing "Dow Theorists" for nearly a year in 2012 by "refusing to confirm" new highs in the industrials, the Transports caught their second wind and ripped to new highs shortly after the new year began. A chart of the iShares Dow Jones Transportation ETF (IYT) shows this clearly. Since last January it has beaten back every attempt at a major correction:
- [By John Udovich]
Labor Day weekend is coming and if you have travel plans, you might be making a stop at a facility owned by small cap TravelCenters of America LLC (NYSE: TA) which is also worth taking a closer look at from an investment standpoint along with the PowerShares Dynamic Leisure and Entertainment ETF (NYSEARCA: PEJ) and iShares Dow Jones Transportation Average ETF (NYSEARCA: IYT).
- [By Mark Thomas]
I focus more on fundamentals to select the stocks that I trade and suggest on my site. However, I can't ignore technical analysis, and this week there were some very important things that appeared on some very long-term charts. With the S+P 500 (SPY) breaking above 1576 and the Dow Jones industrials (DIA) and the Transportation index (IYT) confirming the move to new all-time highs, the thirteen year secular bear market in stocks is over for now-- and based on history, will be probably for quite a while like for two or three more years.
- [By Chad Fraser] 2013 was a strong year for railroad stocks: the iShares Transportation ETF (NYSE: IYT), about the closest you can get to a gauge for the industry (roughly 30% of the fund’s portfolio is devoted to railway operators) gained 39% during the year.
That’s miles ahead of the Dow Jones Industrials (up 26%) and the S&P 500 (up 29%).
Best Financial Companies To Buy Right Now: Zweig Fund Inc (ZF)
The Zweig Fund, Inc. (the Fund), incorporated on June 30, 1986, is a closed-end, diversified management investment company. The Fund�� objective is to increase capital primarily with investment in equity securities, consistent with capital preservation and reduction of risk. The Fund�� principal stock market sectors as on June 30, 2007, included information technology, financials, industrials, energy and healthcare.
The Fund�� investment adviser is Phoenix/Zweig Advisers LLC. As of June 30, 2007, its principal industrial positions included Cisco Systems, Corning Inc., EMC Corp., Ford, Goldman Sachs, Morgan Stanley, PowerShares QQQ, Nike, Nokia Corp. and Valero Energy.
Advisors' Opinion:- [By Nathan Slaughter]
Consider the Zweig Fund (NYSE: ZF). It's a closed-end fund that has $340 million in net assets, which are invested in a diverse basket of blue-chip stocks such as PepsiCo, Apple, JPMorgan, Comcast, U.S. Bancorp and Qualcomm.
Best Financial Companies To Buy Right Now: AmREIT Inc (AMRE)
AmREIT, Inc. (AmREIT) is a full service, vertically integrated and self-administered real estate investment trust (REIT) that owns, operates, acquires and selectively develops and redevelops primarily neighborhood and community shopping centers located in high-traffic, densely populated, affluent areas with high barriers to entry. The Company seeks to own properties in cities in the United States that contain submarkets with characteristics comparable to its existing markets. The Company's shopping centers are anchored by national and local retailers, including supermarket chains, drug stores and other necessity-based retailers. The Company's tenant consists primarily of specialty retailers and local restaurants. The Company has acquired, owned and operated retail properties across 19 states. On December 12, 2012, the Company completed the acquisition of the Preston Royal Village Shopping Center, a retail shopping center, containing approximately 230,000 square feet of GLA. In June 2013, AmREIT Inc announced that it has completed the acquisition of Fountain Oaks Shopping Center, a 160,600 square foot Kroger-anchored shopping center in the north Buckhead submarket of Atlanta, Georgia. Effective September 24, 2013, AmREIT Inc, through its AmREIT Realty Investment Corp subsidiary, acquired Woodlake Square Shopping Center, an owner and operator of shopping centers.
The Company and its affiliates and predecessors acquired and developed mainly single-tenant retail properties across the United States, including in markets in California, Colorado, Georgia, Illinois, Kansas, Louisiana, Maryland, Minnesota, Missouri, New Mexico, New York, North Carolina, Oregon, Tennessee, Texas, Utah and Virginia. As of December 31, 2012, the Company's single tenant properties only comprised 9.6% of its total GLA and 8.1% of its annualized base rent. The Company's investment focus is predominantly concentrated in the affluent, high-growth submarkets of Houston, Dallas, San Antonio, Austin and Atlanta (collectively! , the Company's Core Markets), which represent five of the top population and job growth markets in the United States. The Company carefully review potential acquisitions that meet its investment criteria, performing rigorous and detailed analyses, including analyses of submarket demographics, location, tenants, retail sales, rental rates and projected returns.
The Company's redevelopment and expansion initiatives also may include expanding or reconfiguring existing retail space, developing pad sites or building other property types adjacent to the Company's existing shopping centers, thereby creating mixed-use properties that augment its retail operations and generate revenue enhancing opportunities for such properties. The Company sponsored and managed 20 advised funds targeting third-party equity capital, 13 of which have since been fully liquidated. With respect to the remaining seven Advised Funds, as of December 31, 2012, the Company managed three institutional joint ventures and four high net worth Advised Funds, which owned an aggregate of 2.2 million square feet of retail shopping center space. The Company's institutional partners in the joint ventures are J.P. Morgan Investment Management and AEW Capital.
As of December 31, 2012, the Company's portfolio consisted of 32 wholly-owned properties with approximately 1.5 million square feet of GLA, which were 96.7% leased and occupied with a weighted average remaining lease term of 5.2 years. The Company's neighborhood and community shopping centers accounted for 90.4% of the Company's GLA and 91.9% of its annualized base rent as of December 31, 2012. The Company's single-tenant retail properties comprised 9.6% of the Company's GLA and 8.1% of its annualized base rent.
As of December 31, 2012, the Company's Advised Funds included four high net worth investment funds, one institutional joint venture with J.P. Morgan Investment Management, one institutional joint venture with AEW Capital and one joint venture wi! th two of! its high net worth investment funds, MIG III and MIG IV. As of December 31, 2012, the Company's Advised Funds held all or a portion of the ownership interests in 17 properties with approximately 2.2 million square feet of GLA.
The Company's real estate operating and development business focuses on acquiring, managing, leasing and providing development and redevelopment services for its wholly-owned properties as well as the properties held by its Advised Funds. By employing the Company's own real estate team, the Company is able to provide all services to its properties in-house and maintain secure relationships with its tenants. The Company's real estate operating and development business is held under the Company's taxable REIT subsidiary, ARIC. ARIC generates brokerage, leasing, construction management, development and property management fee income.
Advisors' Opinion:- [By Anna Prior]
Shopping-center owner AmREIT Inc.(AMRE) said it is evaluating a $433 million unsolicited takeover bid from Regency Centers Corp.(REG) AmREIT’s Class B shares slipped 8.7% to $20.50 premarket after jumping some 17% in Thursday trading.
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