OAKLAND, Calif.--(BUSINESS WIRE)--Starwood Waypoint Residential Trust (NYSE:SWAY) (the Company), a leading single-family rental real estate investment trust (REIT), today announced that its Board of Trustees has authorized a share repurchase program. Under the program, the Company may purchase up to $150 million of its common stock beginning April 17, 2014 and ending April 17, 2015.
Purchases made pursuant to the program will be executed in either the open market or in privately negotiated transactions from time to time as permitted by federal securities laws and other legal requirements. The timing, manner, price and amount of any repurchases will be determined by the Company at its discretion and will be subject to economic and market conditions, share price, applicable legal requirements and other factors. The program may be suspended or discontinued at any time.
About Starwood Waypoint Residential Trust:
Starwood Waypoint Residential Trust is a REIT that acquires, renovates, leases, maintains and manages single-family homes. Starwood Waypoint Residential Trust is Reinventing Renting™ by building a leading, nationally recognized brand that is based on a foundation of respect for its residents and the communities in which it operates. The Company also invests in non-performing loans to supplement its growth, and seeks optimal resolutions for each loan by working with interested and qualified borrowers to find the most appropriate solutions to keep them in their homes, or alternatively converting loans into homes for rent or sale.
Forward Looking Statements
Statements in this press release which are not historical fact may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although Starwood Waypoint Residential Trust believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from the Company's expectations include continued ability to acquire additional investments, competition within the real estate industries, economic conditions, availability of financing and other risks detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.