- The merger between Starwood Waypoint and Colony American Homes closed on Jan. 5, so today's Q4 results reflect pre-merger results just for Starwood Waypoint.
- As for Colony Starwood Homes (SFR -0.2%), the merger integration is substantially complete with 80% f the projected $50M synergies realized.
- The annual dividend is hiked by 16% to $0.88 per share, or an annualized rate of 4%. The buyback program is boosted to $250M from $150M.
- The wind down of the NPL business continues, with a target completion date of year-end 2017.
- Full-year 2016 FFO per share guidance of $1.55-$1.65, with stabilized occupancy of 94-95%, blended rent growth of 4-5%, and core NOI margin of 62-64%.