Monday, March 16, 2015

New York Financial Companies Stock Market Prices Up 337% Since March 6, 2009

Former US Fed Chair Ben Bernanke will be delivering a key economic presentation at the University of Southern Indiana in Evansville, Indiana on March 23, 2015.  It is open to the public and free of charge.    

Thus, as a backdrop for this upcoming speech and continuing a much deserved tribute to Bernanke's key role in helping the US avoid a Deep, Prolonged Financial Depression, I think it would be helpful to update just what has been going on with Stock Market Prices for Companies in each US State since March 6, 2009, the lowest point for the overall US Stock Market resulting from the aftershocks of the horrific late 2008 US Financial Meltdown, through the most recent date March 16, 2015......a roughly six year period of time.

Long-term Audited Earnings From Continuing Operations Under US Generally Accepted Accounting Principles (GAAP) drive Long-Term Changes in Stock Market Prices.  These Company Earnings crashed with the late 2008 US Financial Meltdown and thus the linked Stock Market Prices of the related Companies also crashed.

But since the 2008 US Financial Meltdown, these Earnings have been consistently exceptional and thus the Stock Market Prices of the related Companies have also consistently exploded upwardly in the past six years.

This is the dilemma faced by the current US Fed ..... raise US interest rates or continue former US Fed Chair Ben Bernanke's economic policies which have continued to spur Company Earnings and thus also Company Stock Market Prices.

I think the current US Fed should tweak Bernanke's economic policies some to try to more effectively deal with income and wealth inequality, but why in the world would you want to alter them significantly since they have been so incredibly successful?

And the US Congress, and frankly also US Companies,  just have to do a much better job addressing income and wealth inequality.

When you review this below list, the thing that should POP OUT to any investment analyst worth his salt is the unbelievable stock market price performance of New York REITs over the past six years.  The top 4 on the below list of 94 New York Financial Companies are all REITs and all 4 of them were at least Twelve Baggers in stock market price appreciation over the past 6 years.  Further, 7 of the top 10 on this list are also REITs and the lowest growth of the 7 was up 9 times.

And so the IRS by dragging its feet doesn't think their approvals of REITs are that important?  Give me a break.  The US economy cannot reach its full potential until the IRS does its job and timely reviews and either approves or disapproves the huge backlog of REIT applications stacked up on their desks.

Below here are the 94 New York Financial Companies with Stock Market Caps now of at least $100 mil and which have had their common stocks trading from December 31, 2007, or early in 2008 for companies first going public then, through the most recent date March 16, 2015, or the date the Companies were sold, if they were sold since the beginning of 2014.





Market Market Market






Price Price Price






% % %






Change Change Change


Market Market Market 3-6-09 12-31-07 12-31-07


Price Price Price to to to
New York Company HQs 3-16-15 3-6-09 12-31-07 3-16-15 3-6-09 3-16-15


$s $s $s




   





Financial Company
   





SL Green Realty New York  NY      128.39        8.69      93.46 1377% -91% 37%
Newcastle Investment Corp New York  NY         4.60        0.33      12.96 1294% -97% -65%
Gramercy Property Trust New York  NY         7.00        0.51      24.31 1273% -98% -71%
NorthStar Realty Finance New York  NY       18.44        1.39        8.92 1227% -84% 107%
XL Group New York  NY       36.78        2.95      50.31 1147% -94% -27%
MarketAxess Holdings New York  NY       86.03        7.05      12.83 1120% -45% 571%
JW Mays Brooklyn  NY       49.97        4.20      22.15 1090% -81% 126%
iStar Financial New York  NY       12.84        1.09      26.05 1078% -96% -51%
Arbor Realty Trust Uniondale  NY         6.99        0.65      16.11 975% -96% -57%
One Liberty Properties Great Neck  NY       24.00        2.39      16.16 903% -85% 49%
AmTrust Financial Services New York  NY       56.22        5.88      11.38 857% -48% 394%
American Intl Group New York  NY       55.93        7.00      1,166.00 699% -99% -95%
American Express New York  NY       81.50      10.26      52.02 694% -80% 57%
Assured Guaranty Ltd New York  NY       26.42        3.65      26.54 624% -86% 0%
Fortress Investment Group New York  NY         7.60        1.08      15.58 604% -93% -51%
The Blackstone Group LP New York  NY       38.32        5.93      22.13 546% -73% 73%
Signature Bank New York  NY      132.51      20.57      33.75 544% -39% 293%
CIFC Corp New York  NY         7.96        1.24        8.00 542% -85% -1%
MasterCard Purchase  NY       88.71      14.24      21.52 523% -34% 312%
Moody's New York  NY       97.73      16.04      35.70 509% -55% 174%
McGraw Hill Financial New York  NY      105.87      17.64      43.81 500% -60% 142%
Financial Institutions Warsaw  NY       23.60        3.95      17.82 497% -78% 32%
BGC Partners New York  NY         8.95        1.66      11.30 439% -85% -21%
Sovran Self Storage Williamsville  NY       91.72      17.10      40.10 436% -57% 129%
Citigroup New York  NY       53.69      10.30     294.40 421% -97% -82%
KCAP Financial Inc New York  NY         6.92        1.39      12.00 398% -88% -42%
Lexington Realty Trust New York  NY         9.87        1.99      12.88 395% -85% -23%
Cohen & Steers New York  NY       42.04        8.51      29.97 394% -72% 40%
Pzena Investment Management New York  NY         8.76        1.79      11.40 389% -84% -23%
Evercore Partners Inc New York  NY       51.40      10.71      21.55 380% -50% 139%
E*TRADE Financial New York  NY       28.28        6.10      35.50 364% -83% -20%
MetLife New York  NY       51.92      12.22      61.62 325% -80% -16%
Flushing Financial Lake Success  NY       19.98        4.72      16.05 323% -71% 24%
Icahn Enterprises LP New York  NY       90.43      21.97     129.72 312% -83% -30%
BlackRock New York  NY      374.08      92.40     216.80 305% -57% 73%
M&T Bank Buffalo  NY      126.00      31.85      81.57 296% -61% 54%
Arch Capital Group New York  NY       62.09      15.93      23.45 290% -32% 165%
JPMorgan Chase New York  NY       61.85      15.93      43.65 288% -64% 42%
INTL FCStone New York  NY       29.54        7.63      26.99 287% -72% 9%
Acadia Realty Trust White Plains  NY       34.42        8.90      25.61 287% -65% 34%
WP Carey New York  NY       68.34      18.02      33.20 279% -46% 106%
Kimco Realty New Hyde Park  NY       26.42        7.01      36.40 277% -81% -27%
MBIA Inc Armonk  NY         9.30        2.53      18.63 268% -86% -50%
Vornado Realty Trust New York  NY      106.66      29.31      87.95 264% -67% 21%
Assurant New York  NY       61.77      17.19      66.90 259% -74% -8%
New York Mortgage Trust New York  NY         7.90        2.22        8.60 256% -74% -8%
BlackRock Kelso Capital New York  NY         9.26        2.72      15.28 240% -82% -39%
Oppenheimer Holdings New York  NY       23.82        7.13      42.35 234% -83% -44%
Broadridge Financial Solutions Lake Success  NY       52.88      16.03      22.43 230% -29% 136%
Travelers New York  NY      108.93      34.44      53.80 216% -36% 102%
Marsh & McLennan New York  NY       57.18      18.33      26.47 212% -31% 116%
GAMCO Investors Rye  NY       78.84      26.62      69.20 196% -62% 14%
Apollo Investment Corp New York  NY         7.84        2.71      17.05 189% -84% -54%
Blackstone Mortgage Trust New York  NY       28.17      10.10     306.50 179% -97% -91%
Mesabi Trust New York  NY       16.63        5.97      20.72 179% -71% -20%
AllianceBernstein Holding LP New York  NY       29.47      10.75      75.25 174% -86% -61%
Greene County Bancorp Catskill  NY       28.50      10.43      12.05 173% -13% 137%
Home Properties Rochester  NY       68.18      25.36      44.85 169% -43% 52%
Nasdaq OMX Group New York  NY       50.81      19.29      49.49 163% -61% 3%
Community Bank System DeWitt  NY       35.69      13.93      19.87 156% -30% 80%
Goldman Sachs New York  NY      191.90      75.65     215.05 154% -65% -11%
Lazard Ltd New York  NY       49.47      21.34      40.68 132% -48% 22%
Resource Capital Corp New York  NY         4.68        2.07        9.31 126% -78% -50%
Bank New York Mellon New York  NY       41.05      18.25      48.76 125% -63% -16%
Loews New York  NY       40.43      18.13      50.34 123% -64% -20%
Och-Ziff Capital Management New York  NY       12.37        5.56      26.28 122% -79% -53%
Cedar Realty Trust Port Washington  NY         7.37        3.32      10.23 122% -68% -28%
Berkshire Bancorp New York  NY         8.30        3.76      16.01 121% -77% -48%
Medallion Financial New York  NY       10.00        4.57      10.02 119% -54% 0%
Morgan Stanley New York  NY       36.73      17.18      53.11 114% -68% -31%
Central Securities Corp New York  NY       22.31      10.52      26.84 112% -61% -17%
Dime Community Bancshares Brooklyn  NY       15.73        7.43      12.77 112% -42% 23%
New York Community Bancorp Westbury  NY       16.83        7.99      17.58 111% -55% -4%
Astoria Financial Lake Success  NY       12.92        6.20      23.27 108% -73% -44%
The First of Long Island Glen Head  NY       25.76      13.27      12.37 94% 7% 108%
Alleghany New York   NY      485.24     253.63     402.00 91% -37% 21%
Tompkins Financial Ithaca  NY       53.42      29.55      35.27 81% -16% 51%
Sterling Bancorp Montebello  NY       13.55        7.73      12.92 75% -40% 5%
Chemung Financial Elmira  NY       28.00      16.00      28.05 75% -43% 0%
Investment Technology Group New York  NY       28.17      17.60      47.59 60% -63% -41%
NBT Bancorp Norwich  NY       24.71      16.04      22.82 54% -30% 8%
Arrow Financial Glen Falls  NY       27.08      18.11      18.90 50% -4% 43%
MFA Financial New York  NY         7.88        5.32        9.25 48% -42% -15%
Cowen Group New York  NY         5.36        3.74        9.51 43% -61% -44%
TrustCo Bank Glenville  NY         6.78        4.93        9.92 38% -50% -32%
Bridge Bancorp Bridgehampton  NY       25.13      18.45      24.30 36% -24% 3%
Prospect Capital New York  NY         8.52        6.58      13.05 29% -50% -35%
Chimera Investment Corp New York  NY         3.16        2.50      17.88 26% -86% -82%
Getty Realty Jericho  NY       18.00      14.30      26.68 26% -46% -33%
Suffolk Bancorp Riverhead  NY       23.12      21.41      30.71 8% -30% -25%
First Niagara Financial Buffalo  NY         9.11        9.87      12.04 -8% -18% -24%
Annaly Capital Management New York  NY       10.52      12.88      18.18 -18% -29% -42%
Greenhill & Co New York  NY       40.66      57.47      66.48 -29% -14% -39%
Value Line New York  NY       15.56      26.92      40.72 -42% -34% -62%


   





Average % Change all 94 New York Financial Companies    


337% -62% 24%









Average % Change all 135 New York Non-Financial Companies


562% -57% 88%


   





Average % Change all 229 New York Companies    


470% -59% 62%