Most real estate sales (REITs) is rising from the lows made last fall, but only a few are making new highs.
Tiptree Inc. NOTE one of them is better than others in the sector and the rest of the market as a whole. This particular mortgage REIT has risen from $10 at the end of September to this week’s high of $15.50.
More than 50% revenue in four months – a unique level achieved in any sector.
Greenwich, Connecticut-based Tiptree is on the smaller side of the investment trust sector with a market capitalization of more than $540 million. In contrast, the largest mortgage REIT traded on the New York Stock Exchange, Annaly Capital Management Inc. NLYhas a market capitalization of $10.54 billion.
up his website, Tiptree calls itself “a leading author and manager of premium insurance programs and product warranty offerings.” The security is relatively cheaply traded with an average daily volume of 70,960 shares.
Tiptree’s operating income rose 203% over the past 12 months and 3.6% over the past five years. The REIT trades at 1.44 times its book value and pays a dividend of 1.04%.
The current price chart is here:
You can see the new high price after a permanent announcement from the end of September. The REIT is trading well above its 50-day moving average (blue line) and its 200-day moving average (red line). A strong indicator below the price chart indicates a negative divergence.
Tiptree’s weekly price chart is as follows:
The REIT still has a way to go to fully recover its late 2021 high of 17. Tiptree is moving above its 50-week high and 200 weeks.
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Chart courtesy of StockCharts