January wasn't so bad after all.
There were 10 companies that went public last month, taking advantage of rallying equity prices and investor appetite for that new-stock smell.
Let's take a closer look at the rookie class so far.
| Company |
IPO |
Feb. 1, 2013 |
Gain |
|---|---|---|---|
|
Gladstone Land (LAND 0.32%) |
$15 |
$15.00 |
0% |
|
Stemline Therapeutics (STML) |
$10 |
$10.75 |
8% |
|
TRI Pointe Homes (TPH 2.88%) |
$17 |
$19.00 |
12% |
|
Bright Horizons |
$22 |
$28.30 |
29% |
|
LipoScience |
$9 |
$10.68 |
19% |
|
CyrusOne |
$19 |
$21.69 |
14% |
|
Norwegian Cruise Line |
$19 |
$27.65 |
46% |
|
SunCoke Energy (SXCP) |
$19 |
$19.88 |
5% |
|
CVR Refining (CVRR) |
$25 |
$29.00 |
16% |
|
USA Compression |
$18 |
$17.82 |
(1%) |
Source: The Wall Street Journal.
I took a look at five of these debutantes last week, so let's check out the other five.
Gladstone Land plays FarmVille in real life. The real estate company invests in annual row crop properties, deriving rental income by leasing out the farmland. Gladstone currently owns a dozen farms, two cooler buildings, and a storage and packing facility.
Stemline Therapeutics is a biotech developing oncology therapeutics that target cancer stem cells and tumor bulk. There's naturally a lot of upside if it's successful, though investors will have to be patient since its lead candidates are still in early clinical trials.
TRI Pointe Homes went public at the right time. Housing prices have staged their biggest year-over-year increase in six years. The California homebuilder has recently expanded into Colorado, and there's clearly a market for new homes as long as mortgage rates stay low.
SunCoke Energy Partners manufactures coke that is used in the blast furnace production of steel. SunCoke actually posted its first quarterly report as a public company this morning. Revenue climbed 33% and profitability more than doubled for the predecessor company (since SunCoke emerged as a new master limited partnership with a majority stake in SunCoke's facilities in last month's IPO).
Finally, we have CVR Refining. The downstream energy limited partnership didn't generate a lot of buzz when it went public two weeks ago, but investors came around to bid the high-yielding investment up this past week. CVR Refining was one of last week's big winners, popping 13% higher on the week.
