Nomura Securities Starts Colony Starwood Homes (SFR) at Buy

Nomura Securities initiates coverage on Colony Starwood Homes (NYSE: SFR) with a Buy rating and a price target of $29.00.

Analyst Brock Vandervliet commented, "Having recently closed the merger joining Starwood Waypoint and Colony American Homes, SFR is emerging as an efficient scale platform. Management includes a deep bench with multifamily experience, while coChairmen Barry Sternlicht and Tom Barrack are among the most successful real estate investors. We believe this team will deliver for shareholders."

He added, "The merger is emblematic of adaptation to an environment driven by scale and efficiency and less by raw unit growth. By integrating these platforms, and employing an expanded buyback that we expect to be frontloaded into 2016, SFR should close an equity return gap with multifamily REITs."

For an analyst ratings summary and ratings history on Colony Starwood Homes click here. For more ratings news on Colony Starwood Homes click here.

Shares of Colony Starwood Homes closed at $21.52 yesterday.

You May Also Be Interested In

• Kotak Starts Dhoot Transmission (DHOOTTRA:IN) at Sell (4)
• Akamai Technologies (AKAM) PT Raised to $149 at TD Cowen
• Freedom Broker Starts Autoliv, Inc. (ALV) at Buy