Zacks Investment Research lowered shares of Starwood Property Trust (NYSE:STWD) from a buy rating to a hold rating in a research note released on Tuesday morning.
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 research analysts also recently issued reports on the stock. ValuEngine upgraded shares of Starwood Property Trust from a sell rating to a hold rating in a research report on Monday, October 22nd. JPMorgan Chase & Co. started coverage on shares of Starwood Property Trust in a report on Friday, September 21st. They issued an overweight rating and a $23.00 price objective on the stock. Finally, Credit Suisse Group increased their price objective on shares of Starwood Property Trust from $24.00 to $25.00 and gave the stock an outperform rating in a report on Tuesday, August 21st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Starwood Property Trust presently has an average rating of Buy and a consensus target price of $24.00.
Shares of Starwood Property Trust stock traded down $0.05 during trading hours on Tuesday, reaching $21.50. The company’s stock had a trading volume of 22,411 shares, compared to its average volume of 2,316,543. The company has a debt-to-equity ratio of 1.82, a quick ratio of 2.00 and a current ratio of 2.00. Starwood Property Trust has a one year low of $19.47 and a one year high of $23.04. The company has a market cap of $5.77 billion, a P/E ratio of 9.99, a PEG ratio of 2.04 and a beta of 0.33.
Starwood Property Trust (NYSE:STWD) last posted its quarterly earnings results on Wednesday, August 8th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ 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 last year, the firm posted $0.52 EPS. The company’s revenue for the quarter was up 45.2% on a year-over-year basis. As a group, sell-side analysts predict that Starwood Property Trust will post 2.12 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were issued a $0.48 dividend. The ex-dividend date was Thursday, September 27th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.93%. Starwood Property Trust’s dividend payout ratio (DPR) is presently 88.89%.
Hedge funds have recently added to or reduced their stakes in the stock. Virginia Retirement Systems ET AL acquired a new stake in shares of Starwood Property Trust in the 2nd quarter worth about $680,000. Capital Fund Management S.A. acquired a new stake in shares of Starwood Property Trust in the 2nd quarter worth about $2,714,000. Raymond James & Associates increased its holdings in shares of Starwood Property Trust by 10.6% in the 2nd quarter. Raymond James & Associates now owns 293,073 shares of the real estate investment trust’s stock worth $6,363,000 after acquiring an additional 28,142 shares during the period. Rothschild Investment Corp IL increased its holdings in shares of Starwood Property Trust by 1.1% in the 3rd quarter. Rothschild Investment Corp IL now owns 270,340 shares of the real estate investment trust’s stock worth $5,818,000 after acquiring an additional 2,820 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Starwood Property Trust by 446.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,993 shares of the real estate investment trust’s stock worth $260,000 after acquiring an additional 9,798 shares during the period. 66.08% of the stock is currently owned by institutional investors and hedge funds.
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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