Earnings Review and Free Research Report: Starwood Waypoint Homes Reported Better Than Expected Earnings Results

Research Desk Line-up: Douglas Emmett Post Earnings Coverage

LONDON, UK / ACCESSWIRE / September 1, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Starwood Waypoint Homes (NYSE: SFR), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=SFR, following the Company’s posting of its financial results on August 09, 2017, for the second quarter fiscal 2017. The Company’s total revenue increased 7.3% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member’s account at:

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Get more of our free earnings reports coverage from other constituents of the REIT – Diversified industry. Pro-TD has currently selected Douglas Emmett, Inc. (NYSE: DEI) for due-diligence and potential coverage as the Company released on August 01, 2017, its financial results for Q2 2017. Register for a free membership today, and be among the early birds that get access to our report on Douglas Emmett when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on SFR; also brushing on DEI. With the links below you can directly download the report of your stock of interest free of charge at:

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Earnings Reviewed

For three months ended June 30, 2017, Starwood Waypoint Homes’ total revenue increased 7.3% on a y-o-y basis to $154.37 million from $143.83 million in Q2 FY16. During Q2 FY17, the Company’s rental income increased 6.4% to $141.64 million from $133.08 million in Q2 FY16.

During Q2 FY17, the Company’s depreciation and amortization (D&A) expenses increased 7.3% to $48.11 million from $44.84 million. For the reported quarter, Starwood Waypoint Homes’ EBITDA increased 32.9% to $84.49 million from $63.56 million in Q2 FY16. During Q2 FY17, the Company’s adjusted EBITDA increased 16.1% to $82.14 million from $70.72 million in Q2 FY16.

For the reported quarter, Starwood Waypoint Homes’ net operating income increased 11.1% to $94.00 million from $84.65 million in Q2 FY16. During Q2 FY17, the Company’s adjusted operating margin was 64.6% compared to 64.9% in Q2 FY16.

During Q2 FY17, Starwood Waypoint Homes’ net loss was $ 1.06 million compared to net loss of $15.68 million in Q2 FY16. For the reported quarter, the Company’s EPS was negative $0.01 compared to negative $0.15 in Q2 FY16. During Q2 FY17, the Company’s adjusted EPS totaled $0.45 and surpassed analysts’ expectations of $ 0.44.

On August 01, 2017, the Company’s Board of Directors declared dividend of $0.22 per common share to be paid on October 13, 2017, to shareholders of record on September 29, 2017.

On August 10, 2017, Invitation Homes and Starwood Waypoint Homes entered into an agreement of 100% stock for stock merger.

Starwood Waypoint Homes’ Segment Details

Same Homes – During Q2 FY17, the Same-Homes segment’s total revenue increased 5.6% to $136.05 million from $128.79 million in Q2 FY16. For the reported quarter, the segment’s rental income increased 4.4% to $127.20 million on a y-o-y basis. During Q2 FY17, the segment’s total operating expenses increased 1.9% to $52.41 million from $51.42 million in the same quarter of last year. For the reported quarter, the segment’s operating income increased 8.1% to $83.64 million on a y-o-y basis. During Q2 FY17, the segment’s operating margin was 61.5% compared to 60.1% in Q2 FY16. For the reported quarter, the segment’s adjusted operating margin was 64.6% compared to 62.6% in Q2 FY16.

Stabilized Homes – During Q2 FY17, the Stabilized Homes segment’s total revenue increased 141% to $13.18 million from $5.47 million in Q2 FY16. For the reported quarter, the segment’s rental income increased 134% to $12.33 million on a y-o-y basis. During Q2 FY17, the segment’s total operating expenses increased 137.9% to $4.52 million from $1.90 million in the same quarter last year. For the reported quarter, the segment’s operating income increased 141.9% to $8.66 million on a y-o-y basis.

Other Homes – During Q2 FY17, the Other Homes segment’s total revenue decreased 46.2% to $5.15 million from $9.57 million in Q2 FY16. For the reported quarter, the segment’s rental income decreased 65% to $2.11 million on a y-o-y basis. During Q2 FY17, the segment’s total operating expenses decreased 41.4% to $3.44 million from $5.87 million in the same quarter of last year. For the reported quarter, the segment’s operating income decreased 53.8% to $1.71 million on a y-o-y basis.

Balance Sheet

During Q2 FY17, the Company entered into a $675.0 million revolving credit facility.

Outlook

For FY17, Starwood Waypoint Homes expects same-home revenue growth to be in the range of 4%-5% and same-home adjusted net operating margin to be in the band of 64%-65%.

The Company estimated same-home occupancy to be in the range of 95%-96% and estimates adjusted EPS to be in the range of $1.85-$1.90.

Stock Performance

Starwood Waypoint Homes’ share price finished yesterday’s trading session at $37.23, slightly up 0.30%. A total volume of 1.59 million shares have exchanged hands, which was higher than the 3-month average volume of 1.58 million shares. The Company’s stock price rallied 4.23% in the last three months, 9.73% in the past six months, and 20.10% in the previous twelve months. Additionally, the stock surged 29.23% since the start of the year. Shares of the Company have a dividend yield of 2.36% and currently have a market cap of $4.79 billion.

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