Commercial real estate seems much more stable than the media is reporting, Cramer said during Tuesday’s Stop Trading!, if the corresponding investment trusts are any indication. Federal Realty, Boston Properties , Brandywine Realty are all up big despite negative outlook for the sector.
“This market is on fire,” Cramer said.
Caterpillar today announced potential earnings of between $2.50 and $10 a share within the next five years, depending on an economic recovery. Overall, though, the company predicted long-term profitability. Cramer took issue with CAT’s near 6% jump, saying that investors already have bid up the stock on this very thesis for “18 straight points.”
Lastly, much like the alleged impending collapse of commercial real estate, Cramer said, the media is also wrong about initial public offerings. While some reports have said to not expect new IPOs, he disagreed.
“There are a lot of deals in the pipe,” Cramer said.
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