Pinnacle Financial Partners Inc. trimmed its holdings in shares of Starwood Property Trust, Inc. (NYSE:STWD) by 3.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,037 shares of the real estate investment trust’s stock after selling 1,283 shares during the period. Pinnacle Financial Partners Inc.’s holdings in Starwood Property Trust were worth $932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also added to or reduced their stakes in the company. Essex Financial Services Inc. increased its position in Starwood Property Trust by 4.2% during the second quarter. Essex Financial Services Inc. now owns 12,500 shares of the real estate investment trust’s stock worth $284,000 after buying an additional 500 shares during the period. Mirador Capital Partners LP raised its position in Starwood Property Trust by 5.0% in the 2nd quarter. Mirador Capital Partners LP now owns 12,794 shares of the real estate investment trust’s stock valued at $291,000 after purchasing an additional 607 shares during the last quarter. Private Trust Co. NA raised its position in Starwood Property Trust by 4.0% in the 2nd quarter. Private Trust Co. NA now owns 15,699 shares of the real estate investment trust’s stock valued at $356,000 after purchasing an additional 608 shares during the last quarter. Natixis Advisors L.P. boosted its stake in Starwood Property Trust by 1.1% during the 2nd quarter. Natixis Advisors L.P. now owns 60,548 shares of the real estate investment trust’s stock worth $1,376,000 after purchasing an additional 644 shares during the period. Finally, Pinnacle Associates Ltd. boosted its stake in Starwood Property Trust by 5.3% during the 2nd quarter. Pinnacle Associates Ltd. now owns 12,887 shares of the real estate investment trust’s stock worth $293,000 after purchasing an additional 650 shares during the period. 63.57% of the stock is owned by institutional investors and hedge funds.
In other news, CFO Rina Paniry sold 13,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $24.01, for a total transaction of $312,130.00. Following the completion of the transaction, the chief financial officer now directly owns 199,927 shares of the company’s stock, valued at approximately $4,800,247.27. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Jeffrey F. Dimodica sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $23.74, for a total value of $712,200.00. Following the completion of the sale, the president now directly owns 305,765 shares in the company, valued at approximately $7,258,861.10. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.
STWD has been the topic of a number of recent research reports. Raymond James lifted their price objective on shares of Starwood Property Trust from $24.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Zacks Investment Research upgraded shares of Starwood Property Trust from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Wednesday, August 28th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $25.50.
Shares of STWD stock traded up $0.16 during mid-day trading on Wednesday, hitting $24.30. The stock had a trading volume of 70,835 shares, compared to its average volume of 1,339,450. The firm has a market cap of $6.82 billion, a PE ratio of 11.51 and a beta of 0.59. The company’s 50-day simple moving average is $23.46 and its 200-day simple moving average is $22.87. The company has a debt-to-equity ratio of 2.29, a current ratio of 2.61 and a quick ratio of 2.61. Starwood Property Trust, Inc. has a fifty-two week low of $19.16 and a fifty-two week high of $24.15.
Starwood Property Trust (NYSE:STWD) last announced its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.02. Starwood Property Trust had a return on equity of 10.51% and a net margin of 31.15%. The company had revenue of $351.99 million for the quarter, compared to analyst estimates of $308.00 million. During the same quarter in the previous year, the company earned $0.54 EPS. The firm’s revenue for the quarter was up 14.6% compared to the same quarter last year. On average, analysts expect that Starwood Property Trust, Inc. will post 1.77 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 7.90%. The ex-dividend date of this dividend is Friday, September 27th. Starwood Property Trust’s dividend payout ratio is currently 91.00%.
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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