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TheStreet Wire

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

By TheStreet Wire 08/10/12 - 05:00 PM EDT

Find out if (CIT) is in Cramer's Portfolio.

CIT Group (CIT) pushed the Real Estate industry higher today making it today's featured real estate winner. The industry as a whole was unchanged today. By the end of trading, CIT Group rose 40 cents (1%) to $38.70 on light volume. Throughout the day, 800,864 shares of CIT Group exchanged hands as compared to its average daily volume of 1.4 million shares. The stock ranged in a price between $37.62-$38.77 after having opened the day at $38.59 as compared to the previous trading day's close of $38.30. Other companies within the Real Estate industry that increased today were: Supertel Hospitality (SPPR), up 8.2%, Institutional Financial Markets (IFMI), up 6.4%, China Housing & Land Development (CHLN), up 5.4%, and Summit Hotel Properties (INN), up 4.2%.

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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 $7.64 billion and is part of the financial sector. Shares are up 9.1% year to date as of the close of trading on Thursday. Currently there are seven analysts that rate CIT Group a buy, no analysts rate it a sell, and three 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.

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:

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