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More on Starwood Waypoint results

  • Core FFO of $3M or $0.08 per share vs. a loss of $5.5M and $0.14 in Q1. Distribution of $0.14 declared.
  • Rental portfolio of 9,122 homes up from 7,204 at end of Q1, with 77.5% leased vs. 76.6% in Q1. Stabilized homes of 7,076 up from 5,142, with 95% leased vs. 96.4%. For homes 90 days past rent-ready, 98.8% are leased vs. 96.3% at end of Q1.
  • NPL portfolio of 3.080 first lien NPLs with total purchase price of $397M, representing 62.5% of BPO. 1,441 NPLs acquired during Q2 for $117M representing 68.2% of BPO.
  • NAV per share of $31.84 vs. $30.21 at end of Q1.
  • Conference call at 11 ET
  • Previously: Starwood Waypoint Residential Trust FFO of $0.08
  • SWAY flat premarket
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