Colony Starwood Homes (NYSE:SFR) Releases Earnings Results, Beats Expectations By $0.01 EPS
Colony Starwood Homes (NYSE:SFR) released its earnings results on Wednesday. The financial services provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01, Bloomberg Earnings reports. The business had revenue of $154.40 million during the quarter, compared to analysts’ expectations of $153.39 million. Colony Starwood Homes had a negative net margin of 8.24% and a negative return on equity of 1.32%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. Colony Starwood Homes updated its FY17 guidance to $1.85-1.90 EPS.
Shares of Colony Starwood Homes (SFR) traded down 0.68% during mid-day trading on Wednesday, reaching $33.62. 602,283 shares of the company traded hands. The company’s market capitalization is $3.41 billion. The stock’s 50-day moving average is $34.63 and its 200-day moving average is $33.66. Colony Starwood Homes has a 52 week low of $26.74 and a 52 week high of $35.76.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were paid a dividend of $0.22 per share. The ex-dividend date was Wednesday, June 28th. This represents a $0.88 annualized dividend and a yield of 2.62%. Colony Starwood Homes’s dividend payout ratio is presently -187.23%.
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SFR has been the subject of a number of research reports. FBR & Co boosted their target price on shares of Colony Starwood Homes from $38.00 to $39.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 13th. Wood & Company initiated coverage on shares of Colony Starwood Homes in a research note on Monday, April 24th. They set a “buy” rating and a $40.00 target price for the company. Deutsche Bank AG initiated coverage on shares of Colony Starwood Homes in a research note on Monday, April 24th. They set a “buy” rating and a $40.00 target price for the company. Zacks Investment Research cut shares of Colony Starwood Homes from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Finally, Raymond James Financial, Inc. initiated coverage on shares of Colony Starwood Homes in a research note on Tuesday, July 11th. They set an “outperform” rating and a $38.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. Colony Starwood Homes currently has a consensus rating of “Buy” and a consensus target price of $36.62.
In other Colony Starwood Homes news, Director Thomas Barrack, Jr. sold 3,897,220 shares of the firm’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $34.69, for a total transaction of $135,194,561.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.95% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Westpac Banking Corp increased its position in Colony Starwood Homes by 37.9% in the second quarter. Westpac Banking Corp now owns 301,634 shares of the financial services provider’s stock valued at $10,349,000 after buying an additional 82,970 shares during the period. Swiss National Bank increased its stake in shares of Colony Starwood Homes by 24.3% in the second quarter. Swiss National Bank now owns 209,440 shares of the financial services provider’s stock worth $7,186,000 after buying an additional 41,000 shares during the period. Principal Financial Group Inc. increased its stake in shares of Colony Starwood Homes by 24.8% in the second quarter. Principal Financial Group Inc. now owns 6,494,215 shares of the financial services provider’s stock worth $222,816,000 after buying an additional 1,288,650 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Colony Starwood Homes by 56.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,861 shares of the financial services provider’s stock worth $270,000 after buying an additional 2,848 shares during the period. Finally, Pacer Advisors Inc. increased its stake in shares of Colony Starwood Homes by 19.2% in the second quarter. Pacer Advisors Inc. now owns 13,733 shares of the financial services provider’s stock worth $471,000 after buying an additional 2,209 shares during the period. Hedge funds and other institutional investors own 86.29% of the company’s stock.
About Colony Starwood Homes
Starwood Waypoint Homes, formerly Colony Starwood Homes, is an internally managed real estate investment trust (REIT). The Company was formed primarily to acquire, renovate, lease and manage residential assets in select markets across the United States. It is focused on acquiring single-family rental (SFR) homes through a variety of channels, renovating these homes to the extent necessary and leasing them to qualified residents.
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