Institutional Investor Research

Portfolio Manager Weekly Z-Cap - Refreshed Macro Housing Forecasts; On Track for Another Year of Strong Growth

Invitation Homes - Robust Cash Flow Growth at Attractive Valuation, Upgrading to Buy

Real Estate Broker Survey - Demand Holding Steady at Healthy Levels

Macro Housing Forecasts - On Track for Another Year of Outsized Growth

Lennar - Delivering Another Strong Quarter

Portfolio Manager Weekly Z-Cap - Proprietary Building Products Survey Points to Healthy Activity

Building Products Survey - May Recovers to Trend Line, Consistently Positive Feedback

Metro and Submarket Supply Surveillance - 2Q17-1Q18 Deliveries Onerous for Sell-Rated Apartment REITs

Western Markets Report - Sales Pace Consistent With Prior Year

KBH and LEN Earnings Preview - Reiterate Buy Rating on Both Stocks

Portfolio Manager Weekly Z-Cap - Proprietary Builder Survey Points to Solid, Steady Order Growth, Robust Pricing

CalAtlantic Group - Updating Estimates, Maintain Buy on Valuation for Patient Investors

Colony Starwood Homes - Adding Scale Through Unique Portfolio Acquisition Concentrated in California

D.R. Horton - Forestar Proposal a Compelling Opportunity

Zelman's Weekly Tape Measure - Week of June 5, 2017

Five Point Holdings - California Dreamin'

Jobs and Housing - Willing to Look through Soft May Results

Western Markets Report - Sequential Moderation, But Year-Over-Year Growth Continues

Beige Book Breakout - Index Moderates But Still Above 60 on 0-100 Scale

Austin's Apartment Market in Focus - Eroding Fundamentals Concerning, Revenue Poised to Decline

Zelman's Weekly Tape Measure - Week of May 30, 2017

Portfolio Manager Weekly Z-Cap - Adding AVB at Sell to Zelman Top Idea Basket

NVR - Still Best in Class, but Downgrading to Hold on Valuation

American Homes 4 Rent - Lighting the Path to Margin Expansion with Technology

Lowe's Companies - Volatility Comes With the Territory

Lowe's Companies - Not What We Hoped, but Year Still Intact

Toll Brothers - Another Good Quarter

Zelman's Weekly Tape Measure - Week of May 22, 2017

Building Products Company Takeaways - Strong Fundamentals Justify Year-To-Date Stock Performance

Building Products Survey - Slower Growth Not Surprising, Fundamentals Still Constructive

Mortgage Originator Views - Banks Eye Growth, Non-Bank Funding Options Improve

Recapping MAS & SWK Investor Days - 2017 Guidance Reiterated, Longer-Term Outlook Optimistic

The Home Depot - Sleep Well Owning

Mortgage Originator Survey - Tight Inventory Slows Purchase Application Growth

Zelman's Weekly Tape Measure - Week of May 15, 2017

Single-Family REIT Update - Impressive Cash Flow Growth Commands Premium Multiple

Portfolio Manager Weekly Z-Cap - Healthy Builder Trends Continue in April, But Is Price Being Pushed Too Far?

Armstrong Flooring - Persistent Headwinds and High Valuation

Thoughts Post BLD and IBP Earnings - Multi-Year Outlook Intact, Upgrading IBP on Recent Pullback

William Lyon Homes - Raising Numbers Sharply But Current Valuation Reflects Stronger Outlook

Ply Gem Holdings - Continuing to Deliver on Expectations, Reiterate Buy Given Cheap Valuation

MDC Holdings - Strong Earnings; Orders as Expected

Colony Starwood Homes - Solid Execution in the Quarter Reflects Fundamental Strength

Ply Gem Holdings - Solid Upside to 1Q17

RE/MAX Holdings - Awaiting a Better Entry Point

Zelman's Weekly Tape Measure - Week of May 8, 2017

Jobs and Housing - Smoothed Young Adult Job Growth Best in 29 Months

Installed Building Products - A Return to Normal Seasonality

Realogy Holdings - All About the Flow Through

RE/MAX Holdings - Solid Results to Begin the Year