Shares of Colony Starwood Homes (NYSE:SFR) saw unusually-high trading volume on Thursday after the company announced better than expected quarterly earnings. Approximately 9,619,453 shares changed hands during trading, an increase of 668% from the previous session’s volume of 1,253,170 shares.The stock last traded at $35.35 and had previously closed at $33.62.
The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The company had revenue of $154.40 million for the quarter, compared to the consensus estimate of $153.39 million. Colony Starwood Homes had a negative return on equity of 1.32% and a negative net margin of 8.24%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year.
A number of brokerages have commented on SFR. Evercore ISI began coverage on Colony Starwood Homes in a report on Monday, June 5th. They set an “in-line” rating and a $37.00 target price for the company. Citigroup Inc. began coverage on Colony Starwood Homes in a report on Thursday, July 20th. They set a “buy” rating and a $40.00 target price for the company. Deutsche Bank AG began coverage on Colony Starwood Homes in a report on Monday, April 24th. They set a “buy” rating and a $40.00 target price for the company. Wood & Company began coverage on Colony Starwood Homes in a report on Monday, April 24th. They set a “buy” rating and a $40.00 target price for the company. Finally, Zacks Investment Research cut Colony Starwood Homes from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average 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 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.95% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Suntrust Banks Inc. boosted its stake in Colony Starwood Homes by 0.8% in the first quarter. Suntrust Banks Inc. now owns 7,951 shares of the financial services provider’s stock valued at $269,000 after buying an additional 63 shares in the last quarter. Fifth Third Bancorp boosted its stake in Colony Starwood Homes by 0.4% in the first quarter. Fifth Third Bancorp now owns 27,043 shares of the financial services provider’s stock valued at $918,000 after buying an additional 114 shares in the last quarter. Stephens Inc. AR boosted its stake in Colony Starwood Homes by 0.6% in the first quarter. Stephens Inc. AR now owns 41,581 shares of the financial services provider’s stock valued at $1,412,000 after buying an additional 268 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Colony Starwood Homes by 5.4% in the second quarter. Teacher Retirement System of Texas now owns 8,012 shares of the financial services provider’s stock valued at $275,000 after buying an additional 414 shares in the last quarter. Finally, Prudential Financial Inc. boosted its stake in Colony Starwood Homes by 5.4% in the first quarter. Prudential Financial Inc. now owns 9,102 shares of the financial services provider’s stock valued at $309,000 after buying an additional 470 shares in the last quarter. 86.29% of the stock is owned by hedge funds and other institutional investors.
The company’s market capitalization is $3.59 billion. The company’s 50 day moving average is $34.54 and its 200-day moving average is $33.80.
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Colony Starwood Homes Company Profile
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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