July 16, 2015

Topics covered: REIT Stock Underperformance, REIT Sector Trends, REIT Operational Momentum, REIT Fundamentals, Multifamily REITs, Interest Rate Uncertainty, Economic Recovery, Apartment REITs

Companies covered: One Liberty Properties, Inc. (NYSE:OLP), Mid-America Apartment Communities, Inc. (NYSE:MAA), Essex Property Trust, Inc. (NYSE:ESS), Equity One, Inc. (NYSE:EQY), Preferred Apartment Communities, Inc. (AMEX:APTS), Independence Realty Trust, Inc. (AMEX:IRT), Bluerock Residential Growth REIT, Inc. (AMEX:BRG), Standard Pacific Corp (NYSE:SPF), Ryland Group, Inc. (The) (NYSE:RYL), Post Properties, Inc. (NYSE:PPS), Lennar Corporation (NYSE:LEN), Home Properties, Inc. (NYSE:HME), Equity Residential (NYSE:EQR), Brookfield Asset Management Inc (NYSE:BAM), AvalonBay Communities, Inc. (NYSE:AVB), Associated Estates Realty Corporation (NYSE:AEC), Farmland Partners Inc. (AMEX:FPI), Ventas, Inc. (NYSE:VTR), Simon Property Group, Inc. (NYSE:SPG), Sears Holdings Corporation (NASDAQ:SHLD), Macerich Company (The) (NYSE:MAC), Health Care REIT, Inc. (NYSE:HCN), HCP, Inc. (NYSE:HCP), Extra Space Storage Inc (NYSE:EXR), Darden Restaurants, Inc. (NYSE:DRI), Acadia Realty Trust (NYSE:AKR), iStar Financial Inc. (NYSE:STAR), RAIT Financial Trust (NYSE:RAS), Northstar Realty Finance Corp. (NYSE:NRF), Arbor Realty Trust (NYSE:ABR), Taubman Centers, Inc. (NYSE:TCO), Parkway Properties, Inc. (NYSE:PKY), Kimco Realty Corporation (NYSE:KIM), Healthcare Realty Trust Incorporated (NYSE:HR), DDR Corp. (NYSE:DDR)

Buy ($175)

Asset Management, Investment and Money Center Banks

March 26, 2015

Topics covered: Regulatory Outlook Gains Clarity, Prolonged Interest Rate Environment Challenges, Investing in Financial Services, Interest Rates and Loan-Growth Strategies, Increased Short-Term Interest Rates, Fed Capital Review Program, Benefits from Higher Interest Rates, A More Nationalized Banking System

Companies covered: National Bank of Greece SA (NYSE:NBG), Gamco Investors, Inc. (NYSE:GBL), Waddell & Reed Financial, Inc. (NYSE:WDR), T. Rowe Price Group, Inc. (NASDAQ:TROW), Legg Mason, Inc. (NYSE:LM), Janus Capital Group, Inc (NYSE:JNS), Invesco Plc (NYSE:IVZ), BlackRock, Inc. (NYSE:BLK), Franklin Resources, Inc. (NYSE:BEN), Affiliated Managers Group, Inc. (NYSE:AMG), Wells Fargo & Company (NYSE:WFC), Simon Property Group, Inc. (NYSE:SPG), Royal Bank Of Canada (NYSE:RY), Regions Financial Corporation (NYSE:RF), Huntington Bancshares Incorporated (NASDAQ:HBAN), FirstMerit Corporation (NASDAQ:FMER), Fifth Third Bancorp (NASDAQ:FITB), City National Corporation (NYSE:CYN), Diamond Hill Investment Group, Inc. (NASDAQ:DHIL), Apple Inc. (NASDAQ:AAPL), J P Morgan Chase & Co (NYSE:JPM), Citigroup Inc. (NYSE:C), Bank of America Corporation (NYSE:BAC), Morgan Stanley (NYSE:MS), KeyCorp (NYSE:KEY), Goldman Sachs Group, Inc. (The) (NYSE:GS), The Charles Schwab Corporation (NYSE:SCHW), Federated Investors, Inc. (NYSE:FII), Eaton Vance Corporation (NYSE:EV), TD Ameritrade Holding Corporation (NYSE:AMTD)

Buy ($175)

Pacific and Southwest Banks

February 27, 2015

Topics covered: West Coast Bank Outperformance, Southwest Bank Credit Improvement, Prolonged Interest Rate Environment Challenges, Oil Price Impact on Southwest Banks, M&A in Pacific Northwest Bank Segment, Interest Rates and Loan-Growth Strategies, Consolidation in Regional Banking

Companies covered: Oak Valley Bancorp (CA) (NASDAQ:OVLY), Pacific Mercantile Bancorp (NASDAQ:PMBC), Synovus Financial Corp. (NYSE:SNV), Signature Bank (NASDAQ:SBNY), Royal Bank Of Canada (NYSE:RY), PartnerRe Ltd. (NYSE:PRE), First Horizon National Corporation (NYSE:FHN), City National Corporation (NYSE:CYN), Axis Capital Holdings Limited (NYSE:AXS), Hilltop Holdings Inc. (NYSE:HTH), Hancock Holding Company (NASDAQ:HBHC), Cullen/Frost Bankers, Inc. (NYSE:CFR), Summit State Bank (NASDAQ:SSBI), Wilshire Bancorp, Inc. (NASDAQ:WIBC), Umpqua Holdings Corporation (NASDAQ:UMPQ), SVB Financial Group (NASDAQ:SIVB), West Bancorporation (NASDAQ:WTBA), Heritage Oaks Bancorp (NASDAQ:HEOP), Columbia Banking System, Inc. (NASDAQ:COLB), Cascade Bancorp (NASDAQ:CACB), Banner Corporation (NASDAQ:BANR), Sterling Bancorp (NYSE:STL), Pacific Continental Corporation (Ore) (NASDAQ:PCBK), Heritage Financial Group (NASDAQ:HBOS)

Buy ($175)

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