On Friday, U.S. stock traded down.
The jobs report showed a gain of 295,000, above expectations of 240,000 in February, down from 257,000 in January. The unemployment rate fell to 5.5 percent, while hourly wages ticked up 0.1 percent, below consensus and off the surprise 0.5 percent gain in January.
“It’s wages they’re concerned about. Average hourly earnings can’t get lift off here,” said John Canally, strategist and economist at LPL Financial. He doesn’t see the Fed hiking until wage gains strengthen.
Following U.S. stocks are trading lower in the recent trade: Host Hotels and Resorts (NYSE:HST), American Realty Capital Properties (NASDAQ:ARCP), Northstar Realty Finance (NYSE:NRF), Annaly Capital Administration, (NYSE:NLY)
Their Insights are depicted underneath:
Host Hotels and Resorts Inc (NYSE:HST)’s shares dwindled -1.98%, and is now trading at $20.27.
Formerly on February 19, Host Hotels & Resorts, Inc. (HST), the nation’s largest lodging real estate investment trust, declared results of operations for the fourth quarter and the year.
Fourth quarter and full year 2014 results reflect the following:
- Comparable hotel RevPAR on a constant dollar basis improved 3.2% for the quarter driven by rate growth of 4.1%, partially offset by a decrease in occupancy of 0.6 percentage points. For the full year, comparable hotel RevPAR raised 5.7%.
- The Corporation’s strongest markets during the quarter were San Francisco and Hawaii, where comparable RevPAR raised 11.8% and 14.9% respectively. For the full year, San Francisco was the strongest market in the Corporation’s domestic portfolio, with a comparable RevPAR growth of 15.2% as the market continues to benefit from strength in demand from both group and transient customers.
- During the fourth quarter, the Corporation’s New York and Washington D.C. markets continued to lag the portfolio with comparable RevPAR growth of 0.1% and 2.5% respectively, reflecting raised supply in both markets, in addition to renovation activity in Washington, D.C.;
- The raise in comparable hotel proceeds of 2.1% and 4.9% for the quarter and full year, respectively, reflects the improvements in comparable RevPAR, described above, in addition to the Corporation’s food and beverage (“F&B”) and other proceed results. At the Corporation’s comparable hotels, F&B proceeds raised 0.4% for the quarter and 3.8% year-to-date. For the quarter, F&B proceeds were affected by weaker group demand due to difficult year-over-year comparisons related, in part, to changes in the holiday plan, mid-term elections and renovations at several of our meeting rooms and ballrooms.
Host Hotels & Resorts, Inc. is an S&P 500 and Fortune 500 corporation and is the largest lodging real estate investment trust and one of the largest owners of luxury and upper-upscale hotels. The Corporation presently owns 97 properties in the United States and 17 properties internationally totaling about 59,000 rooms.
American Realty Capital Properties Inc (NASDAQ:ARCP), declined -2.00%, and is now trading at $9.78.
RDG Capital Fund Administration LP declared recently it has delivered a letter to the Board of Directors of American Realty Capital Properties, Inc. (ARCP), recommending the immediate appointment of at least three new independent directors.
American Realty Capital Properties, Inc. owns and attains single tenant, freestanding commercial real estate that is net leased on a medium-term basis, primarily to investment grade credit rated and other creditworthy tenants.
Northstar Realty Finance Corp (NYSE:NRF), dipped -1.08%, and is now trading at $18.25.
NorthStar Realty Finance Corp. (NRF), declared that it has priced an underwritten public offering of 60 million shares of ordinary stock, of which 40 million shares are subject to the forward sale contract, at a public offering price of $18.65 per share. The underwriters have been granted a 30-day option to purchase up to 9 million additional shares of ordinary stock.
The offering is predictable to close on March 6, 2015.
Deutsche Bank Securities, UBS Investment Bank, Morgan Stanley, BofA Merrill Lynch, Barclays, Citigroup, Credit Suisse and J.P. Morgan are acting as the joint book-running managers of the offering. FBR, JMP Securities and MLV & Co. are acting as co-managers of the offering.
NorthStar Realty Finance Corp. is a diversified commercial real estate corporation that is organized as a REIT. NorthStar Realty is managed by an associate of NorthStar Asset Administration Group Inc., a global asset administration firm.
Annaly Capital Administration, Inc (NYSE:NLY) dropped -1.32%, and is now trading at $10.47.
Formerly on February 24, Annaly Capital Management, Inc. (NLY), declared its financial results for the quarter and year ended December 31, 2014. GAAP net loss for the quarter ended December 31, 2014 was $658.3 million, or $0.71 loss per average ordinary share, contrast to GAAP net revenue of $354.9 million, or $0.36 per average ordinary share, for the quarter ended September 30, 2014, and GAAP net revenue of $1.0 billion, or $1.07 per average ordinary share, for the quarter ended December 31, 2013. The decrease in net revenue for the quarter ended December 31, 2014 contrast to the quarters ended September 30, 2014 and December 31, 2013 was primarily attributable to mark-to-market losses on our interest rate swaps. Core earnings for the quarter ended December 31, 2014 was $298.9 million, or $0.30 per average ordinary share, contrast to $308.6 million, or $0.31 per average ordinary share, for the quarter ended September 30, 2014, and $350.1 million, or $0.35 per average ordinary share, for the quarter ended December 31, 2013. “Core earnings” represents a non-GAAP measure and is defined as net revenue (loss) not including gains or losses on disposals of investments and termination of interest rate swaps, unrealized gains or losses on interest rate swaps and Agency interest-only mortgage-backed securities, net gains and losses on trading assets, impairment losses, net revenue (loss) attributable to non-controlling interest, and certain other non-recurring gains or losses.
GAAP net loss for the year ended December 31, 2014 was $842.3 million, or $0.96 loss per average ordinary share and GAAP net revenue for the year ended December 31, 2013 was $3.7 billion, or $3.86 per average ordinary share. Core earnings for the years ended December 31, 2014 and 2013, respectively, were $1.1 billion or $1.14 per average ordinary share and $1.2 billion, or $1.21 per average ordinary share.
Wellington J. Denahan, Chairman and Chief Executive Officer of Annaly, commented on the Corporation’s results. “We fully expect the Federal Reserve to adjust policy accommodation sometime this year and the markets to endure higher levels of volatility. We look forward to the opportunities that will accorporation that adjustment and remain comfortable in our continued ability to deliver attractive relative returns.”
Annaly Capital Administration, Inc. owns a portfolio of real estate related investments in the United States. The corporation invests in various types of agency mortgage-backed securities and related derivatives to hedge these investments; attains, finances, and manages commercial mortgage loans and other commercial real estate debt, commercial mortgage-backed securities, and other commercial real estate-related assets; and operates as a broker-dealer.



