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Zillow Continues to Disrupt Real Estate Market

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Image Source: Zillow Group Inc – May 2020 IR Presentation By Callum Turcan Record low interest rates for mortgages in the US, largely a product of the Fed’s monetary stimulus measures (quantitative easing and near-zero interest rates), has gone a long way in stimulating demand for homes. According to the US Census Bureau, the national homeownership rate stood at 67.4% in the second quarter of 2020, up ~260 basis points from the same period the prior year. For reference, the domestic homeownership rate has been steadily climbing higher since 2015-2016 (when homeownership rates were in the low-60s% range) according to data provided by the US Census Bureau. Homeownership rates peaked in 2005-2006 at the high-60s% level before sliding significantly lower … Read more

Dividend Increases/Decreases for the Week Ending October 18

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Below we provide a list of firms that raised their dividends during the week ending October 18. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week 1st Source (SRCE): now $0.29 per share quarterly dividend, was $0.27. Aquesta Financial Holdings (AQFH): now $0.11 per share annual dividend, was $0.10. Brunswick (BC): now $0.24 per share quarterly dividend, was $0.21. Canadian Banc Corp (CNDCF): now CAD 0.0883 per share monthly dividend, was CAD 0.0795. CNX Midstream Partners (CNXM): now $0.4001 per share quarterly dividend, was $0.3865. Credit Suisse Crude Oil Shares Covered Call … Read more

Housing Market Very Strong But To “Face Two Contradicting Challenges”

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Image Shown: The iShares US Home Construction ETF (ITB) has advanced ~ 24% year-to-date, according to data from YahooFinance. “Housing indicators may be leveling off,” per S&P Corelogic, and the threat of rising interest rates looms (as it has for years), but we like the fundamental strength that we’re seeing from the homebuilders of late, which has translated into strong equity performance. By Brian Nelson, CFA We’ve been bullish on the US housing market recovery since early 2012, and we’ve pointed to several factors as to why–including improved affordability, investment by both individuals and investors, falling unemployment, improved household formation, limited inventory, and more recently, the wealth effect that a rising stock market provides. Things continue to be on the … Read more

Prepared Remarks From Nelson Exclusive Conference Call June 30

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Read President of Investment Research Brian Nelson’s prepared remarks for the yearly roundup conference call, held for Nelson Exclusive members. If you would like to subscribe to the Nelson Exclusive publication, please learn more about the publication here. The Nelson Exclusive publication does not reflect real performance. Performance is hypothetical and does not represent actual trading. Ladies and Gentlemen, Thank you very much for joining us on the first conference call for members of the Nelson Exclusive publication. The first year of the publication has surely been an exciting one for all involved. When I first wrote the introductory letter of the Nelson Exclusive on July 1, 2016, we were well-aware the market had laid down the gauntlet for this publication. … Read more

Valuentum’s 3 Breakthroughs in the Field of Finance and More

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Valuentum’s President Brian Nelson pauses for a picture before speaking at the CFA Society of Houston in March 2017. By Valuentum Editorial Staff Let’s cover Valuentum’s 3 major breakthroughs in the field of finance. The first one is big and may challenge you to rethink everything you think you know about investing. 1. On a logical framework, Valuentum has debunked John C. Bogle’s landmark syllogism that has paved the way for the concept of index investing. Index investing has been built on a logical shortcoming, whether supported by evidence or not. We think it is important that the investment community know of this. Read (pdf): The “Luck” and “Randomness” of Index Funds (2018), Brian Nelson, CFA See video documentation: /FALLACY_of_Index_Funds To … Read more

Housing Is Back! Trends in Home Improvement

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Housing prices are no longer in the dumps. What does this mean for the home improvement retailers, and how might other trends be helping to provide a positive industrywide backdrop? Both Home Depot and Lowes may be long-term winners, but valuation considerations shouldn’t be ignored. The Valuentum analyst team digs in. ~8 mins. If you cannot view the podcast below, please select the link here or view the transcript that follows. Chris Araos: Hello, this is Chris Araos at Valuentum Securities. With me are Kris Roseman and Brian Nelson. Today, we are going to focus on Home Depot (HD) and Lowes (LOW) and why they are doing so well. We have a strong housing market. New home sales have hit … Read more

Dividend Increases/Decreases for the Week Ending October 16

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Below we provide a list of firms that raised/lowered their dividends during the week ending October 16. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week Antero Midstream (AM): now $0.205 per share quarterly dividend, was $0.19. Cantel (CMN): now $0.06 per share semi-annual dividend, was $0.05. Cintas (CTAS): now $1.05 per share annual dividend, was $0.85. Dorchester Minerals (DMLP): now $0.1942 per share quarterly dividend, was $0.1674. Eaton Vance (EV): now $0.265 per share quarterly dividend, was $0.25. Healthcare Services (HCSG): now $0.18 per share quarterly dividend, was $0.1788.  International Paper … Read more

Dividend Increases/Decreases for the Week February 26

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Below we provide a list of firms that raised their dividends during the week ending February 26. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week Acushnet (GOLF): now $0.165 per share quarterly dividend, was $0.155. Alamos Gold (AGI): now $0.025 per share quarterly dividend, was $0.02. Albemarle (ALB): now $0.39 per share quarterly dividend, was $0.385. Allstate (ALL): now $0.81 per share quarterly dividend, was $0.54. Alumina (AWCMF): now $0.029 per share semi-annual dividend, was $0.028. American Homes 4 Rent (AMH): now $0.10 per share quarterly dividend, was $0.05. AMERISAFE (AMSF): … Read more

Nelson: The 16 Most Important Steps To Understand The Stock Market

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A previous version of this article appeared on our website July 21, 2013. Refreshed and updated throughout, as of July 2018. By Brian Nelson, CFA After earning my MBA at the University of Chicago Booth School of Business and training stock and credit analysts from large organizations over the past decade or so, I have heard just about every question (though I admit I am still surprised by many things and remain a very humble student of the markets). I’ve also spent years perfecting the discounted cash flow process for large research organizations such as Morningstar and studied under one of the most famed aggressive growth investors of all time, Richard Driehaus. My knowledge runs the gamut from value through … Read more

Dividend Increases/Decreases for the Week October 22

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Below we provide a list of firms that raised their dividends during the week ending October 22. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week 1st Source (SRCE): now $0.31 per share quarterly dividend, was $0.28. ACNB (ACNB): now $0.26 per share quarterly dividend, was $0.25. Albertsons Companies (ACI): now $0.12 per share quarterly dividend, was $0.10. American Electric Power (AEP): now $0.78 per share quarterly dividend, was $0.74. Armstrong World (AWI): now $0.231 per share quarterly dividend, was $0.210. ASML Holding (ASML): now EURO 1.80 per share interim dividend, was … Read more