REIT stocks rise, boosted by the drop in 30-year Treasury yields to record low

ITT Guides FY20 Adj. EPS In Line With Estimates; To Hike Dividend 15%

While reporting financial results for the fourth quarter on Friday, ITT Inc. (ITT) initiated its adjusted earnings and revenue change guidance for the full-year 2020. It also plans to increase quarterly dividend by 15 percent.

For fiscal 2020, the company now projects adjusted earnings in a range of $3.90 to $4.10 per share on revenues projected to be between down 2 percent and up 2 percent.

The company said its 2020 operational guidance excludes the potential first-quarter impacts of the novel coronavirus.

Including an estimated impact of novel coronavirus, the company expects 2020 adjusted earnings in a range of $3.72 to $4.02 per share on revenues projected to be between down 3 percent and up 1 percent to reflect the increasing uncertainty from the novel coronavirus.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.99 per share on revenue growth of 2.9 percent to $2.92 billion for the year. Analysts’ estimates typically exclude special items.

Further, the company plans to continue to return capital to shareholders in 2020 by increasing its quarterly dividend, for an eighth straight year, by 15 percent to $0.169 per share.

First case of coronavirus confirmed in Lebanon: hospital source

BEIRUT (Reuters) – The first case of coronavirus was confirmed in Lebanon on Friday after a woman arriving from Iran was found to be positive, a source at a Beirut hospital where the woman is being quarantined told Reuters.

There were no further details immediately available on the case. Lebanon’s health minister was expected to hold a news conference on Friday to address the case.

Stock Alert: Eldorado Gold Corp. (EGO) Shares Trading Close To 52-Week High

Shares of Eldorado Gold Corp. (EGO) are now trading close to its 52-week high of $10.09 today, after the company reported stellar Q4 results. The stock has been trading between $3.05 and $10.09 in the past one year.

The company, on Feb. 20, reported Q4 net income of $91.2 million or $0.57 basic per share versus a loss of $218.2 million or $1.38 basic per share last year.

Adjusted net income was $20.3 million or $0.13 per share compared to a loss of $18.9 millio or $0.11 per share in the prior year period.

Revenue for the quarter surged to $191.9 million from $92.8 million generated a year ago.

Analysts polled by Thomson Reuters expected earnings of $0.01 per share on revenue of $112.41 million for the quarter.

Stock Alert: Aerie Pharma (AERI) Catches Eye

Shares of Aerie Pharmaceuticals Inc. (AERI), a revenue-generating ophthalmic pharmaceutical company, are up more than 10%, following better-than-expected revenue for the fourth quarter and full-year ended December 31, 2019.

In the U.S., the Company markets Rocklatan and Rhopressa for the treatment of glaucoma or ocular hypertension.

The net product revenue from the two marketed products in the fourth quarter was $24.66 million compared to $14.45 million in the year-ago quarter. Wall Street analysts were expecting revenue of $19.46 million.

The full-year 2019 net product revenue soared to $69.89 million from $24.18 million in 2018, topping analysts’ expectations of $64.73 million.

Rocklatan, under the brand name Roclanda, is under review by the European Medicines Agency. An opinion from the EMA’s Committee for Medicinal Products for Human Use on the Marketing Authorization Application for Roclanda is expected in late 2020.

Rhopressa, under the brand name Rhokiinsa, was approved in Europe last November.

Looking ahead, Aerie currently expects full-year 2020 net revenues to be in the range of $100 to $110 million on a U.S. GAAP basis for Rhopressa and Rocklatan combined.

AERI has traded in a range of $17.15 to $50.10 in the last 1 year. The stock is currently up 10.46% at $21.98.

Stock Alert: Will Q4 Results Reverse Gear For Advance Auto Parts Stock?

Advance Auto Parts, Inc. (AAP) is scheduled to report Q4-19 results on Feb 18, before the opening bell. Analysts are modeling eps of $1.35 vs. year-ago $1.17, on revenues of $2.12 billion, a less-than 1% increase from last year.

The automotive retailer expects to deliver record free cash flow of at least $700 million for 2019, vs. $617.3 million for 2018. Sales numbers for FY19 are expected to be between $9.65 billion and $9.75 billion vs. $9.6 billion in FY18. Analysts expect $9.72 billion.

For Q3, the company delivered its sixth consecutive quarter of sales growth, while cost reduction efforts led to margin expansion. Besides, the Auto-parts provider has been investing in in critical information technology and supply chain initiatives to unlock significant productivity over the next several years.

The stock is lingering close to its 52-week low of $129.94 set on Feb 10, and trading currently at $134.11, down 0.42% from previous day’s close.

Stock Alert: Ducommun Up 19% On Q4 Results

Shares of Ducommun Inc. (DCO) are currently gaining nearly 19% on Friday morning after the aerospace industry supplier’s fourth-quarter earnings and revenues trumped Wall Street estimates.

Net income for the fourth quarter was $8.9 million or $0.75 per share, compared to $0.7 million or $0.06 per a year ago. Revenues for the fourth quarter rose to $186.9 million from $164.2 million last year.

Analysts polled by Thomson Reuters estimated earnings of $0.65 per share and revenues of $184.58 million.

DCO is currently trading at $50.28, up $7.49 or 17.50%, on the NYSE.

REIT stocks rise, boosted by the drop in 30-year Treasury yields to record low

Shares of real estate investment trusts (REITs) were broadly higher Friday, as the relatively high-yielding sector was benefiting from a tumble in Treasury yields. The SPDR Real Estate Select Sector ETF XLRE, +0.38% rose 0.4% to be the best performer among the SPDR ETFs tracking the S&P 500’s SPX, -0.98% 11 key sectors. The REIT ETF was trading just shy of the Feb. 14 record closing price of $41.88. Among the more-active components, shares of Ventas Inc. VTR, +0.39% rose 0.5%, Prologis Inc. PLD, +0.45% tacked on 0.3% and Digital Realty Trust Inc. DLR, +1.16% advanced 0.6%. Meanwhile, Host Hotels & Resorts Inc. HST, -0.47% fell 0.9%. The yield on the 30-year Treasury note TMUBMUSD30Y, -3.29% fell 6.9 basis points toward a record low of 1.904%, amid fears that the coronavirus outbreak’s impact on economic growth will not be contained to China. Meanwhile, the yield on the REIT ETF 2.818%, compared with the implied yield on the S&P 500 SPX, -0.98% of 1.82%.