Zacks Investment Research upgraded shares of Starwood Property Trust (NYSE:STWD) from a hold rating to a buy rating in a research report report published on Thursday. They currently have $23.00 price target on the real estate investment trust’s stock.
According to Zacks, “Starwood Property Trust, Inc. is a newly formed company that is focused primarily on originating, investing in, financing and managing commercial mortgage loans and other commercial real estate-related debt investments. Starwood Property Trust, Inc. will be externally managed and advised by SPT Management, LLC, an affiliate of Starwood Capital Group and intends to elect to be taxed as a real estate investment trust (REIT) for U.S. federal income tax purposes. “
Other equities analysts have also issued reports about the stock. Wood & Company began coverage on shares of Starwood Property Trust in a report on Tuesday, March 27th. They issued an outperform rating on the stock. B. Riley restated a buy rating and issued a $24.00 price objective on shares of Starwood Property Trust in a report on Thursday, January 25th. Finally, Raymond James Financial began coverage on shares of Starwood Property Trust in a report on Tuesday, March 27th. They issued an outperform rating and a $24.00 price objective on the stock. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Starwood Property Trust has a consensus rating of Buy and an average target price of $23.67.
Starwood Property Trust (NYSE:STWD) last posted its earnings results on Wednesday, February 28th. The real estate investment trust reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. The company had revenue of $242.80 million for the quarter, compared to analyst estimates of $236.60 million. Starwood Property Trust had a net margin of 45.55% and a return on equity of 12.57%. Starwood Property Trust’s revenue was up 31.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.53 EPS. equities analysts expect that Starwood Property Trust will post 2.05 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Friday, March 30th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.92 annualized dividend and a dividend yield of 9.16%. Starwood Property Trust’s dividend payout ratio is currently 88.89%.
Hedge funds have recently modified their holdings of the company. New York State Common Retirement Fund lifted its holdings in shares of Starwood Property Trust by 1.7% in the 3rd quarter. New York State Common Retirement Fund now owns 563,500 shares of the real estate investment trust’s stock worth $12,239,000 after acquiring an additional 9,500 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Starwood Property Trust by 8.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,098,663 shares of the real estate investment trust’s stock worth $23,457,000 after buying an additional 83,981 shares in the last quarter. Cornerstone Capital Management Holdings LLC. lifted its holdings in Starwood Property Trust by 43.2% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 127,181 shares of the real estate investment trust’s stock worth $2,762,000 after buying an additional 38,374 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in Starwood Property Trust by 17.2% during the 4th quarter. Oppenheimer & Co. Inc. now owns 40,444 shares of the real estate investment trust’s stock worth $864,000 after buying an additional 5,929 shares in the last quarter. Finally, Assetmark Inc. lifted its holdings in Starwood Property Trust by 465.2% during the 4th quarter. Assetmark Inc. now owns 5,319 shares of the real estate investment trust’s stock worth $114,000 after buying an additional 4,378 shares in the last quarter. Hedge funds and other institutional investors own 70.56% of the company’s stock.
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About Starwood Property Trust
Starwood Property Trust, Inc operates as a real estate investment trust (REIT) in the United States and Europe. It operates through three segments: Real Estate Lending, Real Estate Property, and Real Estate Investing and Servicing. The Real Estate Lending segment originates, acquires, finances, and manages commercial first mortgages, subordinated mortgages, mezzanine loans, preferred equity, commercial mortgage-backed securities (CMBS), residential mortgage-backed securities, residential mortgage loans, and other real estate and real estate-related debt investments.
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