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New Zealand Home Values Extend Third Monthly Upward Streak in April, Says Cotality
Property values across New Zealand extended a third consecutive monthly rise in April, in a slight surprise, edging up 0.1%, despite a soft start to the year for sales volumes and the Middle East conflict weighing on global economies, property valuation firm Cotality said Friday.According to the Cotality NZ's latest Home Value Index, the national median value of $809,101 in April notched up 0.6% from January but remained nearly 17% below the peak seen in 2022.Growth remains uneven across the country, with major cities Auckland and Wellington still witnessing minor declines of 0.1%. In contrast, house prices in Dunedin and Hamilton rose 0.8% and 0.3%, respectively."The bottom line is that the housing market broadly remains in a holding pattern, with buyers enjoying current conditions - or at least those that are secure in their jobs," said Kelvin Davidson, Cotality NZ Chief Property Economist.The central bank is watching closely for any signs of second-round price effects from the Middle East conflict, particularly in wage demands or raised inflation expectations, amid a growing view that it may raise the Official Cash Rate as soon as July.Nevertheless, it would not be a surprise for mortgage rates to gradually rise, with modest house price increases flattening or even reversing, Davidson added.
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Research Alert: CFRA Reiterates Sell Opinion On Shares Of Hilton Worldwide Holdings Inc
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our 12-month price target by $9 to $293, or 32x our 2026 EPS estimate (unchanged) and in line with shares' five-year average forward multiple. We raise our 2026 EPS estimate to $9.16 from $8.88 and lower 2027's to $10.03 from $10.20. Following Q1 results that beat expectations and included raised guidance, we maintain our 2-STARS (Sell) rating. U.S. RevPAR performance broadened from primarily luxury and upper upscale segments to include more meaningful midscale contribution, which management attributes to the return of middle- and low-income consumers. However, we note Q1 results also included ADR deceleration, particularly among luxury hotels, which historically drive significant profit contribution. HLT's Q2 EBITDA guidance of $1,015-$1,035 million being below the $1,081 million consensus suggests luxury pricing power is weakening faster than midscale volume can offset. While the broadening demand trend is positive, we believe slowing luxury tailwinds limit upside at current valuation levels.
$HLT
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Research Alert: CFRA Maintains Buy Rating On Shares Of Universal Health Services
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our 12-month price target to $200 from $243, reflecting an 8.7x multiple of our 2026 EPS estimate, below peer multiples and a discount to UHS's five-year historical forward average of 11.9x. We lower our 2026 EPS forecast to $22.95 from $23.39 and cut our 2027 view to $25.48 from $25.67. Q1 inpatient volumes were flat on a same-facility basis, with seasonal headwinds from unfavorable winter weather and a milder flu/respiratory illness period. The recent expiration of ACA EPTCs also posed challenges, as UHS estimates a near 5% drop in ACA adjusted admissions relative to Q1 2025. UHS maintained its prior forecast of a 25%-30% decline in ACA exchange volumes during the full year, which represented around 6% of the acute care business adjusted admissions in 2025 and under 5% of the acute care segment revenues. UHS anticipates a $75M pre-tax earnings hit in 2026 from these developments, unchanged from prior guidance.
$UHS