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Stock Market & Financial Investment News

News Breaks
June 27, 2014
07:32 EDTSWAYStarwood Waypoint Residential acquires large pool on non-performing loans
Starwood Waypoint Residential Trust completed a $117M purchase of 1,441 non-performing loans. The purchase price represents approximately 61.8% of the total unpaid principal balance of $189.4M and 68.2% of the estimated broker price opinion value of $171.6M. This acquisition represents the seventh NPL pool purchased by the company and its predecessor entities, which in aggregate represents a total purchase price of $473.6M. This total purchase price represents approximately 54.7% of the total UPB of $866M and 64.9% of the estimated total BPO value of $729.4M at the time of each purchase. In addition, the company has entered into an agreement to upsize its existing $350M warehouse credit facility with Deutsche Bank A.G. to $500M. The credit facility has a term expiring in September, 2015 with a one-year extension. The additional $150M of capacity to the warehouse credit facility will be used to finance the acquisition of non-performing loan pools. At June 26, the company had utilized approximately $252M of capacity and had approximately $248M of availability under the expanded credit facility. Combined with the recent expansion of its $1B revolving credit facility secured by single-family residences, the company has a total credit capacity for investing in single-family residences and non-performing loan pools of $1.5B, with the ability to expand the capacity to $1.75B with the accordion feature of the revolving credit facility.
News For SWAY From The Last 14 Days
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May 27, 2015
10:01 EDTSWAYOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Abbott (ABT) initiated with a Buy at Evercore ISI... Aldeyra (ALDX) initiated with a Buy at Janney Capital... Black Stone Minerals (BSM) initiated with a Neutral at Credit Suisse... Boston Scientific (BSX) initiated with a Buy at Evercore ISI... Cidara Therapeutics (CDTX) initiated with a Buy at BTIG... Coach (COH) initiated with an Underweight at BB&T... Diplomat Pharmacy (DPLO) initiated with an Outperform at Raymond James... EPIRUS (EPRS) initiated with a Buy at BTIG... Enviva (EVA) initiated with a Buy at Citigroup... General Finance Corp (GFN) initiated with an Outperform at Oppenheimer... Hortonworks (HDP) initiated with an Outperform at Oppenheimer... Jarden (JAH) initiated with a Buy at UBS... Kate Spade (KATE) initiated with a Buy at BB&T... Medtronic (MDT) initiated with a Hold at Evercore ISI... MoneyGram (MGI) initiated with a Neutral at Goldman... Opexa Therapeutics (OPXA) initiated with a Buy at Maxim... Paratek Pharmaceuticals (PRTK) initiated with a Buy at BTIG... Progenics (PGNX) initiated with a Buy at BTIG... Rite Aid (RAD) initiated with a Buy at Mizuho... St. Jude Medical (STJ) initiated with a Buy at Evercore ISI... Starwood Waypoint (SWAY) initiated with an Outperform at Wells Fargo... Talen Energy (TLN) initiated with a Hold at Deutsche Bank... Ulta Salon (ULTA) initiated with a Buy at Buckingham... Vipshop (VIPS) initiated with a Buy at Stifel... Virtu Financial (VIRT) initiated with a Neutral at Citigroup... Vista Outdoor (VSTO) initiated with a Buy at Wunderlich... ZELTIQ (ZLTQ) initiated with a Buy at Northcoast... eBay (EBAY) initiated with a Buy at Topeka.
May 26, 2015
17:33 EDTSWAYStarwood Waypoint initiated with an Outperform at Wells Fargo
Price target range $28-$30.
10:39 EDTSWAYStarwood Waypoint management to meet with JMP Securities
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May 19, 2015
07:08 EDTSWAYWells Fargo to hold a conference
4th Annual Specialty Finance Conference is being held in New York on May 19.

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