Chevy Chase Trust Holdings Inc. decreased its holdings in shares of Starwood Property Trust, Inc. (NYSE:STWD) by 21.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 16,824 shares of the real estate investment trust’s stock after selling 4,500 shares during the period. Chevy Chase Trust Holdings Inc.’s holdings in Starwood Property Trust were worth $362,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Quad Cities Investment Group LLC boosted its stake in Starwood Property Trust by 4,950.0% in the third quarter. Quad Cities Investment Group LLC now owns 5,050 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 4,950 shares in the last quarter. Tyers Asset Management LLC purchased a new stake in Starwood Property Trust in the second quarter worth approximately $139,000. Qube Research & Technologies Ltd purchased a new stake in Starwood Property Trust in the second quarter worth approximately $151,000. Edge Wealth Management LLC boosted its stake in Starwood Property Trust by 2,285.7% in the third quarter. Edge Wealth Management LLC now owns 8,350 shares of the real estate investment trust’s stock worth $180,000 after buying an additional 8,000 shares in the last quarter. Finally, Baird Financial Group Inc. purchased a new stake in Starwood Property Trust in the second quarter worth approximately $207,000. 66.08% of the stock is owned by institutional investors.
Shares of STWD opened at $21.58 on Monday. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 1.82. Starwood Property Trust, Inc. has a 1 year low of $19.47 and a 1 year high of $23.04. The company has a market capitalization of $5.76 billion, a price-to-earnings ratio of 9.99, a PEG ratio of 2.04 and a beta of 0.25.
Starwood Property Trust (NYSE:STWD) last announced its quarterly earnings data on Wednesday, August 8th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.01. Starwood Property Trust had a return on equity of 13.19% and a net margin of 39.03%. The firm had revenue of $307.20 million during the quarter, compared to the consensus estimate of $257.88 million. During the same quarter in the previous year, the company posted $0.52 earnings per share. The business’s revenue was up 45.2% on a year-over-year basis. Sell-side analysts anticipate that Starwood Property Trust, Inc. will post 2.12 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were given a $0.48 dividend. The ex-dividend date was Thursday, September 27th. This represents a $1.92 annualized dividend and a yield of 8.90%. Starwood Property Trust’s payout ratio is currently 88.89%.
Several brokerages have issued reports on STWD. ValuEngine raised Starwood Property Trust from a “sell” rating to a “hold” rating in a research note on Monday, October 22nd. Zacks Investment Research raised Starwood Property Trust from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Wednesday, October 24th. Credit Suisse Group upped their target price on 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. began coverage on Starwood Property Trust in a research note on Friday, September 21st. They issued an “overweight” rating and a $23.00 target price for the company. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $24.00.
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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