Sector Update: Financial

By Staff,

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Financial shares were a bit higher Monday morning with no substantial economic data on tap.

In financial stocks news, Trade Street Residential ( TSRE ) said its funds from operations swung to black in Q2.

The real estate investment trust said its reported core funds from operations rose to $2.2 million or $0.06 per diluted share from a loss of $0.3 million or $0.03 per share the year earlier, largely the result of the addition of 10 new operating properties since the second quarter of 2013. No analyst estimate was available for comparison.

TSRE is steady at $7.33 pre-market, having closed up 3% at $7.33 Friday.

And, Walter Investment ( WAC ) reported adjusted earnings of $1.86 per share, down 42% from a year prior and service segment revenue that declined 48% year-over-year. Analyst estimates were not available.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: TSRE , WAC

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