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Tuesday, June 18, 1:10 PM Colony American Home pulled its IPO this month because of a collapse in equity REIT prices, says Colony Financial (CLNY) Chairman Tom Barrack, appearing on CNBC. "We don't need the capital," he adds. An owner of mortgage insurers Radian (RDN) and MGIC (MTG), and Fannie Mae (FNMA.OB) preferred, Barrack calls them a great a way in H2 to play the housing comeback. Note: FNMA.OB is the symbol for the common. Comment! [Financials]
Wednesday, June 5, 7:37 AM Turning single-family rentals from a mom-and-pop business into a Wall Street operation sounds like a good idea, but investor dollars say differently. Colony American Homes (CAHS, a spinoff of CLNY) postpones its IPO citing market conditions, reports the WSJ. The move comes amid the weak performance of recent IPOs American Residential Properties (ARPI) and Silver Bay Realty (SBY). 2 Comments [Financials]
Tuesday, June 4, 9:19 AM Colony Financial (CLNY) declares $0.35/share quarterly dividend, in line with previous. Forward yield 6.44% For shareholders of record June 28. Payable July 15.Ex-div date June 26. (PR) Comment! [Dividends]
Tuesday, June 4, 8:48 AM "We're early in the credit cycle," says Colony Capital (CLNY), presenting at the KBW Mortgage Conference (presentation). "It's spotty," and mostly confined to the better locations, they say, responding to a question about the pace of new real estate development and price advances. Wall Street's jump (Colony, BX, SBY to name 3) into single-family home purchases has made it the gorilla in the market, but is Colony a seller now? Comment! [Financials]
Thursday, May 9, 12:51 PM Yet another single-family rental offering may be on the way as Starwood Property Trust (STWD) CEO Barry Sternlicht indicates on the earnings call (transcript) the company is considering a spinoff of its home business - currently 1,644 homes and 1,318 nonperforming mortgages. Starwood would join Sliver Bay (SBY), American Residential Properties (next Wednesday), and CLNY's Colony American Homes (no date yet). 1 Comment [Financials]
Thursday, May 9, 9:29 AM It's oft-assumed the exit strategy for Wall Street firms getting into the single-family rental business (BX, SBY, CLNY) is to form a REIT and sell to the public. Another possibility would have the shops sell the properties while providing financing to those who might not qualify for a conventional mortgage. Further, the loans could then be packaged and sold - the next wave of MBS. 1 Comment [Financials]
Wednesday, May 8, 3:38 PM More Eisman on housing (previous): One last U.S. pick is Colony Financial (CLNY) - which has made news lately by being an aggressive entrant into the single-family rental business and has slated an IPO for its Colony American Homes. Turning to Canadian housing: "It's too late for a soft landing," and he's shorting Toronto-listed Home Capital Group - the nation's largest originator of non-prime mortgages. More on shorting Canada. Comment! [Quick Ideas]
Monday, May 6, 6:12 PM Colony Financial (CLNY): Q1 EPS of $0.27 misses by $0.04. Revenue of $33.6M misses by $0.2M. (PR) Comment! [Earnings, Breaking News]
Friday, May 3, 10:12 AM Another public player in the hot single-family rental sector is on the way as Colony American Homes (managed by Colony Capital CLNY) files for an IPO. Like Blackstone (BX) and like Silver Bay (SBY), Colony buys up swaths of troubled properties through auctions and short sales, fixes them up, and turns them into rentals. (S-11) 1 Comment [Financials]
Monday, April 8, 8:27 AM "Asset bubbles are necessary when you don't have growth in the economy," says Colony Financial (CLNY) Chairman Tom Barrack, whose subsidiary Colony Capital is doing its best to help by buying as many single-family homes it can get its hands on. Next up, he says: A land boom, as builders will need lots to boost inventory. Maybe of interest would be TRC, LMNR, JOE, AXR. 1 Comment [U.S. Economy, Financials]
Thursday, April 4, 8:18 AM More on the softening rental market (previous): National single-famly rents were up just 0.1% Y/Y, reports Trulia, and fell in some notable markets such as Las Vegas, Ft. Lauderdale, Orange County, and D.C. With everybody from Blackstone (BX), Colony Financial (CLNY), and Silver Bay (SBY) on down to our next-door neighbor rushing to convert formerly owner-occupied homes to rentals, it's not hard to see why. 1 Comment [U.S. Economy]
Monday, March 25, 12:20 PM Nearly every home listed for less than $400K in Orange County, CA "is being pursued by institutional investor capital," says Jeff Pintar, himself an owner of 1.7K rental houses. It's now clear this massive wave of money is the gorilla in the low-medium end of housing markets around the country. Two recent pure-play spinoffs are SBY and RESI. The two most aggressive publicly-traded buyers are BX and CLNY. Look for plenty more IPOs and spinoffs in coming months. 2 Comments [Financials, U.S. Economy]
Friday, March 15, 10:30 AM Colony Financial (CLNY) declares $0.35/share quarterly dividend, in line with previous. Forward yield 6.25%. For shareholders of record Mar. 28. Payable Apr. 15. Ex-div date Mar. 26. (PR) Comment! [Dividends]
Wednesday, March 6, 5:29 PM Colony Financial (CLNY): Q4 EPS of $0.41 beats by $0.04. (PR) 1 Comment [Earnings, Breaking News, Financials]
Friday, March 1, 10:55 AM "There are better ways to play the housing recovery than buying single-family homes," says Carlyle's (CG) head of U.S. real estate Robert Stuckey, refusing to join in on the trendy bet. Carlyle has put billions to work in property, but mostly in purchasing MBS and multi-family property, rather than trying to transform the mom-and-pop single family business. 3 Comments [U.S. Economy, Financials]
Monday, February 25, 5:52 PM After-hours top gainers, as of 5:15 p.m.: CLNY +6%. MTG +4%. CRDB +4%. ING +4%. AXTI +4%.
After-hours top losers: CZR -9%. RDN -6%. VVUS -4%. APOL -3%. GMO -3%. Comment! [On the Move]

CLNY Colony Financial, Inc.

CLNY

Colony Financial, Inc.