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The Real Estate industry as a whole was unchanged today versus the S&P 500, which was up 0.7%. Laggards within the Real Estate industry included HMG/Courtland Properties ( HMG), down 3.5%, InnSuites Hospitality ( IHT), down 18.5%, JW Mays ( MAYS), down 2.9%, Amrep ( AXR), down 1.7% and Impac Mortgage Holdings ( IMH), down 1.7%.

TheStreet Ratings Group would like to highlight 3 stocks that pushed the industry lower today:

St Joe ( JOE) is one of the companies that pushed the Real Estate industry lower today. St Joe was down $0.42 (2.1%) to $19.68 on light volume. Throughout the day, 422,329 shares of St Joe exchanged hands as compared to its average daily volume of 578,000 shares. The stock ranged in price between $19.35-$20.07 after having opened the day at $20.07 as compared to the previous trading day's close of $20.10.

The St. Joe Company, together with its subsidiaries, operates as a real estate development company in Florida. The company operates in five segments: Residential Real Estate; Commercial Real Estate; Resorts, Leisure, and Leasing Operations; Forestry; and Rural Land. St Joe has a market cap of $1.8 billion and is part of the financial sector. Shares are up 4.7% year-to-date as of the close of trading on Thursday. Currently there are no analysts who rate St Joe a buy, no analysts rate it a sell, and 1 rates it a hold.

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TheStreet Ratings rates St Joe as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and notable return on equity. However, as a counter to these strengths, we find that we feel that the company's cash flow from its operations has been weak overall.

Highlights from TheStreet Ratings analysis on JOE go as follows:

  • JOE's very impressive revenue growth greatly exceeded the industry average of 12.2%. Since the same quarter one year prior, revenues leaped by 101.7%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • JOE's debt-to-equity ratio is very low at 0.24 and is currently below that of the industry average, implying that there has been very successful management of debt levels.
  • ST JOE CO reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, ST JOE CO reported lower earnings of $0.05 versus $0.07 in the prior year. This year, the market expects an improvement in earnings ($4.38 versus $0.05).
  • In its most recent trading session, JOE has closed at a price level that was not very different from its closing price of one year earlier. This is probably due to its weak earnings growth as well as other mixed factors. Looking ahead, our view is that this company's fundamentals will not have much impact in either direction, allowing the stock to generally move up or down based on the push and pull of the broad market.
  • Net operating cash flow has significantly decreased to -$11.53 million or 272.49% when compared to the same quarter last year. In addition, when comparing to the industry average, the firm's growth rate is much lower.

You can view the full analysis from the report here: St Joe Ratings Report

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At the close, Impac Mortgage Holdings ( IMH) was down $0.10 (1.7%) to $5.65 on light volume. Throughout the day, 5,183 shares of Impac Mortgage Holdings exchanged hands as compared to its average daily volume of 13,000 shares. The stock ranged in price between $5.58-$5.80 after having opened the day at $5.77 as compared to the previous trading day's close of $5.75.

Impac Mortgage Holdings, Inc. operates as an independent residential mortgage lender. It operates through three segments: Mortgage Lending, Real Estate Services, and Long-Term Mortgage Portfolio. Impac Mortgage Holdings has a market cap of $52.5 million and is part of the financial sector. Shares are down 3.9% year-to-date as of the close of trading on Thursday. Currently there is 1 analyst who rates Impac Mortgage Holdings a buy, no analysts rate it a sell, and none rate it a hold.

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TheStreet Ratings rates Impac Mortgage Holdings 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.

Highlights from TheStreet Ratings analysis on IMH go as follows:

  • IMPAC MORTGAGE HOLDINGS INC has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. The company has reported a trend of declining earnings per share over the past two years. During the past fiscal year, IMPAC MORTGAGE HOLDINGS INC swung to a loss, reporting -$0.58 versus $1.49 in the prior year.
  • The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Thrifts & Mortgage Finance industry. The net income has significantly decreased by 93.3% when compared to the same quarter one year ago, falling from $1.22 million to $0.08 million.
  • Return on equity has greatly decreased when compared to its ROE from the same quarter one year prior. This is a signal of major weakness within the corporation. Compared to other companies in the Thrifts & Mortgage Finance industry and the overall market, IMPAC MORTGAGE HOLDINGS INC's return on equity significantly trails that of both the industry average and the S&P 500.
  • Despite any intermediate fluctuations, we have only bad news to report on this stock's performance over the last year: it has tumbled by 36.18%, worse than the S&P 500's performance. Consistent with the plunge in the stock price, the company's earnings per share are down 58.33% compared to the year-earlier quarter. Naturally, the overall market trend is bound to be a significant factor. However, in one sense, the stock's sharp decline last year is a positive for future investors, making it cheaper (in proportion to its earnings over the past year) than most other stocks in its industry. But due to other concerns, we feel the stock is still not a good buy right now.
  • IMH, with its decline in revenue, underperformed when compared the industry average of 13.0%. Since the same quarter one year prior, revenues fell by 25.2%. Weakness in the company's revenue seems to have hurt the bottom line, decreasing earnings per share.

You can view the full analysis from the report here: Impac Mortgage Holdings Ratings Report

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Amrep ( AXR) was another company that pushed the Real Estate industry lower today. Amrep was down $0.07 (1.7%) to $4.04 on heavy volume. Throughout the day, 25,381 shares of Amrep exchanged hands as compared to its average daily volume of 13,500 shares. The stock ranged in price between $4.01-$4.12 after having opened the day at $4.09 as compared to the previous trading day's close of $4.11.

AMREP Corporation, through its subsidiaries, is engaged in media services and real estate businesses in the United States. Amrep has a market cap of $33.8 million and is part of the financial sector. Shares are down 41.3% year-to-date as of the close of trading on Thursday.

TheStreet Ratings rates Amrep as a sell. Among the areas we feel are negative, one of the most important has been a generally disappointing historical performance in the stock itself.

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Highlights from TheStreet Ratings analysis on AXR go as follows:

  • AXR's stock share price has done very poorly compared to where it was a year ago: Despite any rallies, the net result is that it is down by 43.70%, which is also worse that the performance of the S&P 500 Index. Investors have so far failed to pay much attention to the earnings improvements the company has managed to achieve over the last quarter. Naturally, the overall market trend is bound to be a significant factor. However, in one sense, the stock's sharp decline last year is a positive for future investors, making it cheaper (in proportion to its earnings over the past year) than most other stocks in its industry. But due to other concerns, we feel the stock is still not a good buy right now.
  • Current return on equity exceeded its ROE from the same quarter one year prior. This is a clear sign of strength within the company. When compared to other companies in the Commercial Services & Supplies industry and the overall market, AMREP CORP's return on equity is below that of both the industry average and the S&P 500.
  • The gross profit margin for AMREP CORP is currently extremely low, coming in at 14.92%. Regardless of AXR's low profit margin, it has managed to increase from the same period last year. Despite the mixed results of the gross profit margin, AXR's net profit margin of 34.93% significantly outperformed against the industry.
  • AXR, with its decline in revenue, underperformed when compared the industry average of 4.5%. Since the same quarter one year prior, revenues fell by 12.6%. The declining revenue has not hurt the company's bottom line, with increasing earnings per share.
  • AMREP CORP reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past year. During the past fiscal year, AMREP CORP continued to lose money by earning -$0.43 versus -$0.47 in the prior year.

You can view the full analysis from the report here: Amrep Ratings Report

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