- "The spinoff of the single-family rental segment into a separately traded public company (SWAY) will provide investors with the opportunity to purchase Starwood (STWD +0.3%) (and potentially STWD WI) at a discount to its intrinsic value of $34.50 (pre-spin)," says Compass Point, initiating Starwood with a Buy and $34.50 price target.
- The 2nd catalyst is the potential for boosted dividend capacity thanks to the movement on LNR commercial servicing assets from a taxable REIT subsidiary to a qualified REIT subsidiary.
- Previous coverage of Starwood and LNR
- Previous coverage of SWAY spinoff
Starwood a Buy thanks to SWAY spinoff, says Compass Point
Jan 22 2014, 11:03 ET