Zacks Investment Research upgraded shares of Starwood Property Trust (NYSE:STWD) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning. They currently have $24.00 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. “
A number of other equities analysts also recently weighed in on STWD. ValuEngine downgraded shares of Starwood Property Trust from a hold rating to a sell rating in a research note on Monday, July 2nd. Credit Suisse Group upped their price target on shares of Starwood Property Trust from $24.00 to $25.00 and gave the stock an outperform rating in a research note on Tuesday, August 21st. Finally, JPMorgan Chase & Co. initiated coverage on shares of Starwood Property Trust in a research note on Friday, September 21st. They issued an overweight rating and a $23.00 price target on the stock. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $24.00.
Starwood Property Trust (NYSE:STWD) last announced its earnings results on Wednesday, August 8th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. Starwood Property Trust had a net margin of 39.03% and a return on equity of 13.19%. The company had revenue of $307.20 million for the quarter, compared to the consensus estimate of $257.88 million. During the same period in the previous year, the business earned $0.52 EPS. The company’s revenue was up 45.2% on a year-over-year basis. Equities research analysts anticipate that Starwood Property Trust will post 2.13 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.95%. The ex-dividend date was Thursday, September 27th. Starwood Property Trust’s dividend payout ratio (DPR) is presently 88.89%.
Several hedge funds and other institutional investors have recently bought and sold shares of STWD. Acadian Asset Management LLC increased its position in Starwood Property Trust by 296.9% during the second quarter. Acadian Asset Management LLC now owns 2,931,460 shares of the real estate investment trust’s stock worth $63,643,000 after buying an additional 2,192,931 shares during the last quarter. Renaissance Technologies LLC increased its position in Starwood Property Trust by 121.2% during the second quarter. Renaissance Technologies LLC now owns 2,313,484 shares of the real estate investment trust’s stock worth $50,226,000 after buying an additional 1,267,400 shares during the last quarter. Standard Life Aberdeen plc acquired a new position in Starwood Property Trust during the second quarter worth $16,524,000. First Republic Investment Management Inc. acquired a new position in Starwood Property Trust during the second quarter worth $6,971,000. Finally, Voya Investment Management LLC increased its position in Starwood Property Trust by 331.6% during the second quarter. Voya Investment Management LLC now owns 314,394 shares of the real estate investment trust’s stock worth $6,825,000 after buying an additional 241,551 shares during the last quarter. 66.07% of the stock is currently owned by institutional investors and hedge funds.
Starwood Property Trust Company Profile
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.
See Also: Liquidity
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