Momentum investing is essentially the opposite of the tried-and-tested Wall Street adage -- "buy low and sell high." Investors following this investing style typically avoid betting on cheap stocks and waiting long for them to recover. They believe instead that one could make far more money in lesser time by "buying high and selling higher."Who doesn't like betting on fast-moving trending stocks? But determining the right entry point isn't easy. Often, these stocks lose momentum once their valuation moves a ...

Key Takeaways Zillow's Q3 EPS rose 25.7% year over year to $0.44, missing estimates by a cent.Q3 revenues climbed 16.4% to $676 million, led by strong for-sale and rental performance.Zillow sees Q4 rental revenues up 45% and mortgage revenues rising about 20% year over year.Zillow Group (Z) reported its third-quarter 2025 adjusted earnings per share (EPS) of 44 cents, which missed the Zacks Consensus Estimate of 45 cents. However, the figure increased 25.7% on a year-over-year basis.Results reflected higher ...

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Newmark Group (NasdaqGS:NMRK) Q3 2025 Earnings Call October 30, 2025 10:00 AM ET Speaker6Good day and welcome to the Newmark Group third quarter 2025 financial results call. Today's call is being recorded. At this time, I'd like to turn the call over to Jason McGruder, Head of Investor Relations. Please go ahead.Speaker7Thank you, operator, and good morning. Newmark issued its third quarter 2025 financial results press release this morning. Unless otherwise stated, the results provided on today's call compa ...

Cushman & Wakefield (NYSE:CWK) Q3 2025 Earnings Call October 30, 2025 09:00 AM ET Speaker1Thank you and welcome to Cushman & Wakefield's third quarter 2025 earnings conference call. Earlier today we issued a press release announcing our financial results for the period. This release, along with today's presentation, can be found on our Investor Relations website at ir.cushmanwakefield.com. Please turn to the page in our presentation labeled Cautionary Note on Forward Looking Statements. Today's presentation ...

基金业绩表现 - 基金在截至2025年9月30日的季度内，年初至今回报率为+13.54%（扣除费用后），超越其最相关基准——富时EPRA/NAREIT发达指数（扣除费用前为+11.26%）[3] - 自1998年成立以来，基金年化回报率为+9.12%（扣除费用后），初始投资10万美元的市值已超过105万美元（假设股息再投资）[5] - 主要业绩贡献者包括对美国住宅建筑商（D R Horton、PulteGroup、Lennar）、房利美和房地美的优先股以及房地产服务公司（Brookfield Corp、CBRE Group、JLL）的投资[4] 投资组合活动与持仓调整 - 基金在本季度增持了Champion Homes、Unite Group和Accor的股份[4][12][15][18] - 基金减持了部分头寸，包括房利美、房地美、Weyerhaeuser和Rayonier，并完全退出了Grainger plc和Millrose Properties的投资[20] - 基金还实施了针对英镑敞口和核心持仓CBRE Group的对冲操作[20] 投资组合配置 - 基金资产的41.9%投资于美国住宅房地产相关公司，涵盖住宅建筑、利基租赁平台、土地与木材、抵押贷款和产权保险等领域[22] - 27.5%的资产配置于北美商业房地产公司，涉及房地产服务、资产管理、工业和物流以及自助仓储等板块[23] - 25.6%的资本投资于国际房地产公司，业务范围与上述类似，但为各自区域的领先平台，主要分布在英国、澳大利亚、法国、香港和新加坡等发达市场[24] - 剩余5.0%的资产为现金、债务及期权，包括美元现金及等价物、短期美国国债以及针对某些货币和关键持仓的对冲[25] 行业洞察与结构性转变 - 基金管理层认为房地产行业的分化程度正在加剧，这种基本面差异不仅体现在不同的物业类型上，也体现在个体公司和其运营的市场中[10] - 以美国住房市场为例，存在明显的“两个市场”主题，即新房市场与现房销售之间存在巨大差异，并且在区域和价格点上对于独户和多户住宅的基本面也存在关键区别[11] - 在酒店业领域，独立业主正越来越多地与全球平台之一签订管理或特许经营协议，这种安排在北美已成为标准结构，约80%的酒店隶属于某个平台，而在大多数国际市场这一比例仅为40%[18] 关键持仓分析 - Champion Homes是北美领先的“经济适用房”生产商，去年交付超过26,000套预制和模块化房屋，平均单价低于10万美元，且财务状况非常强劲，拥有显著过剩产能[12] - Unite Group是英国领先的学生公寓房地产投资信托，拥有超过150处物业和65,000个床位，入住率超过95%，且债务水平适中[15] - Accor是一家全球酒店管理和特许经营平台，在110多个国家拥有近6,000家酒店和85万间客房，在欧洲、中东、亚太和南美市场占据领先份额，但其估值相对全球同行存在显著折价[18][19]

BEIJING, Oct. 27, 2025 (GLOBE NEWSWIRE) -- KE Holdings Inc. (“Beike” or the “Company”) (NYSE: BEKE and HKEX: 2423), a leading integrated online and offline platform for housing transactions and services, is pleased to announce today a significant upgrade in its Environmental, Social and Governance (ESG) rating by Morgan Stanley Capital International (“MSCI”) from “A” to “AA,” marking its third consecutive rating upgrade from 2023 to 2025. This achievement highlights Beike’s steadfast commitment to excellenc ...

核心观点 - 旧金山住房成本已回归至2018年7月定义的"正常"水平 但这并不意味着可负担 因为该基准水平本身已处于高位 [1] - 尽管房价增长放缓且市场趋于稳定 但考虑到当前更高的利率 对于大多数中产阶级购房者而言 在旧金山购房仍然遥不可及 [3] - 人工智能领域带来的科技财富激增可能再次推高当地房地产价格 [6] 市场基准定义 - Redfin将"正常"市场基准设定为2018年7月 依据是当时利率约为4% 全美大部分地区房价以可控速度上涨 买卖双方力量相对均衡 [4] - 2018年7月全美范围内月供收入比中位数约为30% 这是美国住房可负担性的一个广泛接受基准 [5] 旧金山市场现状 - 2018年7月旧金山平均房价约为130万美元 [2] - 2018年7月旧金山的月供收入比为74% 七年后因房价增长放缓及收入增加 该比率已下降至67% 但仍远高于可负担水平 [6]

CBRE Group (CBRE) reported $10.26 billion in revenue for the quarter ended September 2025, representing a year-over-year increase of 13.5%. EPS of $1.61 for the same period compares to $1.20 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $9.92 billion, representing a surprise of +3.37%. The company delivered an EPS surprise of +9.52%, with the consensus EPS estimate being $1.47.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall ...

NEW YORK--(BUSINESS WIRE)-- #cre--Cushman & Wakefield (NYSE: CWK) will host an Investor Day on Thursday, December 4, 2025, in New York City. Cushman & Wakefield CEO Michelle MacKay, CFO Neil Johnston and members of the global management team, will provide insight into Cushman & Wakefield's growth strategy and financial outlook. The Investor Day will begin at 8:30 a.m. ET and conclude at approximately 12 p.m. ET. Additional details and a live webcast of the event will be available on Cushma. ...