NEW YORK ( TheStreet) -TheStreet Ratings' stock model downgraded PulteGroup ( PHM) to 'Sell' from 'Hold'. Shares of this homebuilder have declined as much as 38% in the last two months double dipping back to July 2009 levels. TheStreet Ratings released rating changes on five additional U.S. common stocks for July 12, 2010. In all, two stocks have been downgraded and four stocks have been upgraded by our stock model. Not even mortgage interest rates near record lows could save Pulte from a downgrade to 'Sell' as the company continues to lose money. Potential homebuyers worried about long-term job security amid a high unemployment may be less willing to commit to a long-term mortgage on a new home. Buyers with cash to spend are instead opting to chase fire-sale deals on recent home foreclosures. In the most recent quarter, Pulte lost $12.5 million, an improvement over the $514.8 million lost in the year ago quarter. Of today's four upgrades, the largest company is Colonial Property Trust ( CLP) at $1.1 billion in market capitalization. The share price of this real estate investment trust has climbed steadily over the last year brushing off a first quarter loss of $10.3 million. The model recognizes investor bullishness ahead of the July 22 teleconference to announce second quarter earnings. As residents rethink ownership in favor of renting, Colonial Property Trust is well positioned with 34,230 apartments as of March 31.
-- Reported by Kevin Baker in Jupiter, Fla. For additional Investment Research check out our Ratings Research Center.