Colony Starwood Homes (SFR) - NYSE
  • Tue, Jul. 19, 7:21 AM
    • After about a 60% run higher from lows hit in mid-January, Colony Starwood (NYSE:SFR) is cut to Market Perform from Outperform by KBW's Jade Rahmani.
    | Tue, Jul. 19, 7:21 AM
  • Mon, Jul. 18, 8:23 AM
    • Invitation Homes would go public as a REIT. It's the largest single-family landlord in the country, having picked up about 50K homes in the aftermath of the housing crash.
    • Other players which came public well before Invitaiton include American Homes 4 Rent (NYSE:AMH), Colony Starwood (NYSE:SFR), and Silver Bay Realty (NYSE:SBY).
    • There's also Altisource Residential (NYSE:RESI), which is not yet commonly thought of as in the single-family rental business, but is expected to own 4K properties by the end of Q3, 10K by year-end, and maybe 20K-25K by the end of 2017.
    | Mon, Jul. 18, 8:23 AM
  • Wed, May 25, 8:51 AM
    • The deal involves $509.1M of paper backed by rental payments flowing through from Colony Starwood's (NYSE:SFR) portfolio of single-family homes.
    • The transacton is expected to close on June 7.
    • Source: Press Release
    | Wed, May 25, 8:51 AM
  • Mon, May 9, 9:41 AM
    • Q1 core FFO of $56M or $0.41 per share vs. $53.6M and $0.49 one year ago.
    • Company is an owner of 15.1M shares, or 14% of Starwood Homes (NYSE:SFR) after completing the merger of Colony American Homes and Starwood Waypoint. The new company has achieved 85% of the estimated $50M in annualized synergies.
    • Q1 results were shy of estimates, but does not yet reflect anticipated portfolio gains activity or investment management benefits from new funds expected to be in place by year-end.
    • The conference call is at 11 ET,
    • Previously: Colony Financial misses by $0.09, beats on revenue (May 9)
    • CLNY flat premarket
    | Mon, May 9, 9:41 AM
  • Mon, May 9, 6:37 AM
    • Colony Starwood Homes (NYSE:SFR): Q1 FFO of $0.40
    • Revenue of $139.39M (+88.8% Y/Y) beats by $5.65M.
    • Press Release
    | Mon, May 9, 6:37 AM
  • Tue, Mar. 29, 12:53 PM
    • A bit less than three months after the merger, the company has repurchased 2M shares for about $43M. The program allows for $250M in buybacks, or roughly 10% of the float.
    • The combined platform includes more than 30K homes, with average monthly rent per occupied home of $1,506. The stabilized occupancy is 95.1%. Renewal rent growth is 4.9% and blended rent growth 4.2%. The company promises roughly $50M in annual synergies.
    • SFR +2.4%
    | Tue, Mar. 29, 12:53 PM
  • Mon, Feb. 29, 12:07 PM
    • 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%.
    | Mon, Feb. 29, 12:07 PM
  • Mon, Feb. 29, 6:57 AM
    • Colony Starwood Homes (NYSE:SFR): Q4 Core FFO of $0.18 misses by $0.09.
    • Revenue of $64.89M (+35.8% Y/Y) misses by $20M.
    • Press Release
    | Mon, Feb. 29, 6:57 AM
  • Thu, Jan. 28, 2:20 PM
    • Getting the preliminary results out now allows the company to get busy buying back stock, says CEO Fred Tuomi. Colony Starwood (SFR -0.1%) adds $100M to its existing program, giving it $242M of buyback capacity through May 2017.
    • In addition, the company intends to boost the annual dividend 14% from Starwood Waypoint's pre-merger level to $0.88 per share.
    • Q4 adjusted core FFO is expected to be $0.17-$0.22 per share; full-year $1.67-$1.72.
    • Full results are coming on Feb. 29.
    | Thu, Jan. 28, 2:20 PM
  • Wed, Jan. 6, 7:46 AM
    • Alongside the merger is the internalization of Starwood Waypoint's (NYSE:SWAY) manager. The name of the company is now Colony Starwood Homes, and the ticker has been changed from SWAY to SFR.
    • Combined, the two have a NAV of about $7.7B and more than 30K homes concentrated in their top 10 markets.
    • Formerly president and COO of Colony American Homes, Fred Tuomi is CEO of the merged company, with Colony CFO Arik Prawer the CFO. Formerly COO of Statwood Waypoint, Charles Young is COO of the merged company.
    • Barry Sternlicht and Thomas Barrack (NYSE:CLNY) are co-chairmen of the board.
    • The company expects to realized synergies of about $50M annually, and expects to achieve 70% of that by the end of Q1 and 100% by the end of next year.
    | Wed, Jan. 6, 7:46 AM | 1 Comment
  • Dec. 18, 2015, 7:36 AM
    • The deal is expected to close early next year, and the combined company will be called Colony Starwood Homes and trade under the symbol SFR.
    • SWAY shareholders also approved internalization of the company's management.
    | Dec. 18, 2015, 7:36 AM
  • Dec. 9, 2015, 9:38 AM
    • Strong demand for rental housing in the aftermath of the property crash isn't a new story, but it's got plenty of room to run, according to CoreLogic. The company expects more than 1.25M of household formations next year, with most of those wanting to rent at a time when vacancy rates are at or near 30-year lows.
    • As a result, they say, look for rental rates to continue to outpace the level of inflation.
    • And while multifamily mortgage originations should rise next year, CoreLogic sees single-family originations falling 10% - mostly due to lower refinance volume as interest rates go north.
    • Interested parties: Single-family landlords: SBY, AMH, ARPI, SWAY. Apartment owners: EQR, AVB, ESS, PPS, UDR, AIV, CPT, MAA, IRET, MORE, NXRT, APTS, IRT
    | Dec. 9, 2015, 9:38 AM | 10 Comments
  • Nov. 5, 2015, 6:39 AM
    • Starwood Waypoint (NYSE:SWAY): Q3 FFO of $0.43 beats by $0.09.
    • Revenue of $86.29M (+119.9% Y/Y) beats by $23.86M.
    | Nov. 5, 2015, 6:39 AM
  • Sep. 24, 2015, 3:09 PM
    • REITs are capital-intensive businesses, and - needing constant access to equity and debt markets to raise capital - it's usually silly to buy back stock only to have to turn around and issue it ... That's in normal times though. With the median discount to NAV for the overall equity REIT market at 17.37% as of Sept. 15, repurchase plans are flying out of boardrooms.
    • Four of the recent announcements - from Starwood Waypoint (NYSE:SWAY), Altisource Residential (NYSE:RESI), CBL & Associates (NYSE:CBL), and Investors Real Estate Trust (NYSE:IRET) - are from companies trading at a 30% or more discount to NAV.
    • "A management team once told me that when your shares are cheap and your real estate is expensive, you sell your real estate and you buy back shares," says Stifel's Simon Yarmak.
    • Brandywine Realty Trust (NYSE:BDN) - its stock selling at a 24.55% discount to NAV - can buy back shares at an implied cap rate of 8.8%, figures Mizuho's Rich Anderson ... Try buying any decent property at anywhere near that cap rate today.
    • Source: SNL Financial
    • ETFs: IYR, VNQ, DRN, URE, RQI, SCHH, ICF, SRS, RWR, RNP, JRS, KBWY, RFI, NRO, DRV, RIT, REK, RIF, FRI, FTY, PSR, DRA, FREL, WREI, IARAX
    | Sep. 24, 2015, 3:09 PM | 4 Comments
  • Sep. 21, 2015, 10:18 AM
    • Starwood Waypoint (SWAY +9.3%) is sharply higher after announcing its merger with Colony Capital's (CLNY +2.7%) Colony American Homes.
    • With M&A (and the quick scale-up and cost savings that come with it) in the air, Silver Bay Realty (SBY +1.7%), American Homes 4 Rent (AMH +2.6%), and American Residential Properties (ARPI +2.2%) are also on the move.
    | Sep. 21, 2015, 10:18 AM
  • Sep. 21, 2015, 7:37 AM
    • Unable to pull off an IPO of its single-family rental operation, Colony Capital (NYSE:CLNY) engineers a pseudo-IPO by merging Colony American Homes with Starwood Waypoint (NYSE:SWAY).
    • CAH shareholders will receive 64.9M shares of SWAY in exchange for 100% of the stock of CAH. After the deal, CAH shareholders will own about 59% of the combined company's shares. The $0.19 dividend is expected to be maintained.
    • Barry Sternlicht and Thomas Barrack will serve as non-executive co-chairmen of the board, while President and COO of CAH Fred Tuomi will be CEO. SWAY CEO Doug Brien will be president and COO.
    • The combined company will own and manage (management will be internalized as part of the merger) more than 30K homes with a total asset value of $7.7B. The deal is expected to achieve annualized cost savings of $40M-$50M.
    • A conference call is set for 9 ET
    | Sep. 21, 2015, 7:37 AM
Company Description
Starwood Waypoint Residential Trust is a real estate investment trust. The company acquires, renovates, leases and manages residential assets in select markets throughout the U.S. Its strategy is to acquire single-family homes, or homes, through a variety of channels, renovate these homes to the... More
Sector: Financial
Industry: REIT - Diversified
Country: United States