Western Asset Management Co Exits Position in CalAtlantic Group Inc (CAA)

CalAtlantic Group Inc (CAA) : Western Asset Management Co has sold out all of its stake in CalAtlantic Group Inc during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 6 shares of CalAtlantic Group Inc which is valued at $215.

Other Hedge Funds, Including , Price T Rowe Associates Inc Md reduced its stake in CAA by selling 3,046 shares or 0.71% in the most recent quarter. The Hedge Fund company now holds 423,060 shares of CAA which is valued at $15,162,470.Penn Capital Management Co Inc reduced its stake in CAA by selling 103,565 shares or 53.68% in the most recent quarter. The Hedge Fund company now holds 89,383 shares of CAA which is valued at $3,203,487. CalAtlantic Group Inc makes up approx 0.18% of Penn Capital Management Co Inc’s portfolio. Delphi Private Advisors added CAA to its portfolio by purchasing 48 company shares during the most recent quarter which is valued at $1,720. Timber Hill added CAA to its portfolio by purchasing 8,864 company shares during the most recent quarter which is valued at $325,841. CalAtlantic Group Inc makes up approx 0.03% of Timber Hill’s portfolio.California State Teachers Retirement System reduced its stake in CAA by selling 1,480 shares or 0.91% in the most recent quarter. The Hedge Fund company now holds 161,972 shares of CAA which is valued at $5,887,682. CalAtlantic Group Inc makes up approx 0.01% of California State Teachers Retirement System’s portfolio.

On the company’s financial health, CalAtlantic Group Inc reported $0.88 EPS for the quarter, missing the analyst consensus estimate by $ -0.13 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $1.01. The company had revenue of $1558.70 million for the quarter, compared to analysts expectations of $1748.79 million. The company’s revenue was up 124.4% compared to the same quarter last year.

Investors should note that on Jul 29, 2016, CalAtlantic Group Inc announced a cash dividend of $0.0400. The company’s management has announced Sep 13, 2016 as the ex-dividend date and fixed the record date on Sep 15, 2016. The payable date has been fixed on Sep 30, 2016.

Many Wall Street Analysts have commented on CalAtlantic Group Inc. Shares were Reiterated by RBC Capital Mkts on Aug 1, 2016 to “Outperform” and Lowered the Price Target to $ 43 from a previous price target of $48 .Shares were Reiterated by MKM Partners on Aug 1, 2016 to “Buy” and Lowered the Price Target to $ 45 from a previous price target of $47 .RBC Capital Mkts Initiated CalAtlantic Group Inc on Jul 19, 2016 to “Outperform”, Price Target of the shares are set at $48.

Calatlantic Group Inc. formerly Standard Pacific Corp. is a builder of single-family attached and detached homes. The Company operates in two segments: homebuilding and financial services. The Company’s homebuilding segment operations include acquiring and developing land and construct and sell single-family attached and detached homes. The homebuilding operating segments are grouped into three segments: California; Southwest consisting of its operating divisions in Arizona Texas Colorado and Nevada; and Southeast consisting of its operating divisions in Florida and the Carolinas. The Company’s Financial Services segment includes mortgage financing operation which provides mortgage financing to its homebuyers. The Company’s title services operation provides title examinations for its homebuyers in Texas and Florida.

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