CIT Group Inc (CIT): Today's Featured Real Estate Winner

CIT Group (CIT) pushed the Real Estate industry higher today making it today's featured real estate winner. The industry as a whole closed the day down 0.2%. By the end of trading, CIT Group rose $1.42 (3.8%) to $38.86 on heavy volume. Throughout the day, three million shares of CIT Group exchanged hands as compared to its average daily volume of 1.2 million shares. The stock ranged in a price between $37.46-$39.14 after having opened the day at $37.57 as compared to the previous trading day's close of $37.44. Other companies within the Real Estate industry that increased today were: ZipRealty (ZIPR), up 19.4%, American Realty Investors (ARL), up 14.7%, SYSWIN (SYSW), up 11.9%, and Alto Palermo (APSA), up 5.5%.

CIT Group Inc. operates as the holding company for CIT bank that provides commercial financing, leasing products, and other services to small and middle market businesses. CIT Group has a market cap of $7.57 billion and is part of the financial sector. Shares are up 8.1% year to date as of the close of trading on Wednesday. Currently there are six analysts that rate CIT Group a buy, no analysts rate it a sell, and four rate it a hold.

TheStreet Ratings rates CIT Group as a sell. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity and generally disappointing historical performance in the stock itself.

• You can view the full CIT Group Ratings Report.

On the negative front, Rait Financial (RAS), down 8.7%, Impac Mortgage Holdings (IMH), down 8.5%, Bluegreen Corporation (BXG), down 7.7%, and Income Opportunity Realty Investors (IOT), down 7.1%, were all losers within the real estate industry with Host Hotels & Resorts (HST) being today's real estate industry loser.

• Use our real estate section to find industry-relevant news.
• Or find some new ideas from our top rated stocks lists.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the real estate industry could consider iShares Dow Jones US Real Estate (IYR) while those bearish on the real estate industry could consider ProShares Short Real Estate Fund (REK).

• Find other investment ideas from our top rated ETFs lists.

 

For more information on CIT Group Inc click any of the following:

• CIT Group Inc Stock Price

• CIT Group Inc Analyst Ratings

• CIT Group Inc Key Stats & Profile

• CIT Group Inc Earnings

• CIT Group Inc Ratio Comparison

• CIT Group Inc Growth Rates

• CIT Group Inc Balance Sheet

• CIT Group Inc Cash Flow

• CIT Group Inc Income Statement