OCN, O And RLGY, Pushing Real Estate Industry Downward

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All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 7 points (0.0%) at 17,094 as of Thursday, July 24, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,609 issues advancing vs. 1,334 declining with 169 unchanged.

The Real Estate industry currently is unchanged today versus the S&P 500, which is up 0.1%. On the negative front, top decliners within the industry include Government Properties Income ( GOV), down 4.8%, Brookfield Residential Properties ( BRP), down 3.1%, American Realty Capital Properties ( ARCP), down 0.9%, General Growth Properties ( GGP), down 0.7% and Icahn ( IEP), down 0.5%. Top gainers within the industry include Altisource Portfolio Solutions ( ASPS), up 3.7%, Dupont Fabros Technology ( DFT), up 3.4%, AvalonBay Communities ( AVB), up 2.3%, Howard Hughes ( HHC), up 1.1% and Public Storage ( PSA), up 0.6%.

TheStreet would like to highlight 3 stocks pushing the industry lower today:

3. Ocwen Financial ( OCN) is one of the companies pushing the Real Estate industry lower today. As of noon trading, Ocwen Financial is down $0.40 (-1.1%) to $35.95 on light volume. Thus far, 342,689 shares of Ocwen Financial exchanged hands as compared to its average daily volume of 1.9 million shares. The stock has ranged in price between $35.86-$36.65 after having opened the day at $36.65 as compared to the previous trading day's close of $36.35.

Ocwen Financial Corporation, through its subsidiaries, is engaged in the servicing and origination of mortgage loans in the United States and internationally. Ocwen Financial has a market cap of $4.8 billion and is part of the financial sector. Shares are down 34.5% year-to-date as of the close of trading on Wednesday. Currently there are 5 analysts that rate Ocwen Financial a buy, no analysts rate it a sell, and 1 rates it a hold.

TheStreet Ratings rates Ocwen Financial as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity and impressive record of earnings per share growth. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow and a generally disappointing performance in the stock itself. Get the full Ocwen Financial Ratings Report now.

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