67 WALL STREET, New York - June 23, 2014 - The Wall Street Transcript has just published its REITs Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs and Equity Analysts. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: Apartment, Lodging, Self-Storage and Office REITs - Consolidation Activity - REIT Access to Capital - Residential and Commercial REITs - Correlation Between Macroeconomy and Real Estate - Agency Mortgage REITs - Supply and Demand Dynamics - Favorable REIT Fundamentals
Companies include: Starwood Waypoint Residential Trust (SWAY) and many more.
In the following excerpt from the REITs Report, the Co-CEO of Starwood Waypoint Residential Trust (SWAY) discusses company strategy and the outlook for this vital industry:
TWST: How do you feel the spinoff was received by investors in the marketplace?
Mr. Beasley: Spinoffs are always a bit challenging because the result is a shareholder base that didn't buy your stock. We were very pleased with the way our spin was received. The stock has held up nicely. We got a warm reception from the investment community, and we feel we're poised to continue to grow our shareholder base over time now that we're public and becoming more visible to the investment community.
TWST: What is the size and the geographic focus of your portfolio today?
Mr. Beasley: We have approximately 7,200 homes in about a dozen markets around the country. Those markets include Northern and Southern California, Denver, Dallas, Houston, Chicago, Atlanta, and several markets in Central and South Florida, such as Tampa and Orlando. Our largest presence is in Florida, which is about 35% of our concentration; Atlanta, which is about 25%; and Texas, which is about 22%.
TWST: What is your acquisition criteria and strategy? And do you typically go after portfolios of homes?
Mr. Beasley: We look at individual assets as well as portfolios. In the first quarter, we did both. We bought individual assets through foreclosure auction, through the MLS as well as short sales. We also completed a $144 million portfolio acquisition of 707 leased homes. We will look at all of those channels as well as nonperforming loan pools to supplement our growth. We purchased a roughly $100 million pool of approximately 500 nonperforming loans as well in the first quarter. Our principle objective is to generate attractive risk-adjusted returns for our shareholders over the long term through rental revenue growth, capital appreciation and dividend growth.
TWST: With some improvement in the residential market across the country, are you still finding good deals? Is it more challenging?
For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.