Blackstone's Invitation Homes to buy Starwood Waypoint

Judith Bessette
Agosto 12, 2017

Evercore ISI assumed coverage on shares of Colony Starwood Homes in a research report on Monday, June 5th. They issued an "in-line" rating and a $37.00 target price on the stock. They set a buy rating and a $40.00 price target for the company. The company presently has a consensus rating of "Buy" and a consensus target price of $36.62.

Colony Starwood Homes (NYSE:SFR) traded up 0.71% on Friday, hitting $35.60. The company's stock had a trading volume of 3,528,284 shares. The company's market capitalization is $3.61 billion. Colony Starwood Homes has a 52-week low of $26.74 and a 52-week high of $35.99. The company's 50-day moving average is $34.55 and its 200-day moving average is $33.81.

Colony Starwood Homes (NYSE:SFR) last issued its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $0.45 earnings per share for the quarter, beating the Zacks' consensus estimate of $0.44 by $0.01. The firm's revenue for the quarter was up 7.4% compared to the same quarter previous year. Colony Starwood Homes had a negative net margin of 8.24% and a negative return on equity of 1.32%. Colony Starwood Homes's revenue was up 7.4% on a year-over-year basis. Equities analysts anticipate that Colony Starwood Homes will post ($0.03) EPS for the current year.

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August 19 investment analysts at Citigroup held the company rating at "Hold" and lowered the price target from $2.50 to $1.50. Lyons Wealth Management Llc acquired 10,769 shares as Scripps Networks Interact In (SNI)'s stock declined 10.51%.

Like other real estate investment trusts (REITs), Invitation Homes and Starwood Waypoint both took advantage of the USA foreclosure crisis, buying up the homes of people who could no longer afford to pay their mortgages.

In related news, Director Thomas Barrack, Jr. sold 3,897,220 shares of Colony Starwood Homes stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $34.69, for a total transaction of $135,194,561.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The Company operates through two segments, which are represented by its portfolio of SFR homes and its portfolio of NPLs owned in the joint venture with Prime Asset Fund VI, LLC (Prime).

Other hedge funds and other institutional investors also recently modified their holdings of the company.

Renaissance Technologies LLC raised its position in Starwood Waypoint Homes of Ben stock by 82,221 shares as of the end of the last quarter. PNC Financial Services Group Inc. now owns 3,475 shares of the financial services provider's stock worth $117,000 after buying an additional 1,298 shares during the last quarter. American Financial Group Inc. bought a new stake in Colony Starwood Homes during the first quarter worth $204,000. First Trust Advisors LP boosted its position in shares of Colony Starwood Homes by 75.0% in the first quarter. The value of the investment in (SFR) increased from $30,700,000 to $43,600,000 increasing 42.0% quarter over quarter. Advisors Asset Management Inc. now owns 11,882 shares of the financial services provider's stock worth $403,000 after buying an additional 2,237 shares during the last quarter. Finally, Ameritas Investment Partners Inc. bought a new stake in Colony Starwood Homes during the first quarter worth $207,000. The value of the investment in (SFR) went from $23,031,000 to $23,375,000 increasing 1.5% since the last quarter. Institutional investors own 86.29% of the company's stock.

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