Key Points
- Director Jeffrey Dishner sold 7,013 shares on April 1 at an average price of $17.13 for about $120,133, reducing his stake by 4% to 168,152 shares valued at roughly $2.88 million.
- The board approved a $400 million share buyback (up to 6.1% of shares) and declared a quarterly dividend of $0.48 (an annualized yield of 11.1%), with an ex-dividend date of March 31 and payout ratio of 165.52%.
- Starwood beat quarterly estimates with EPS of $0.42 and revenue of $492.95 million (revenue up 8.5% year-over-year), while analysts' consensus is a "Hold" with an average price target of $19.90.
Starwood Property Trust, Inc. (NYSE:STWD - Get Free Report) Director Jeffrey Dishner sold 7,013 shares of the firm's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $17.13, for a total transaction of $120,132.69. Following the completion of the sale, the director owned 168,152 shares of the company's stock, valued at $2,880,443.76. The trade was a 4.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Starwood Property Trust Price Performance
Shares of NYSE STWD opened at $17.23 on Friday. The firm's 50-day moving average price is $17.82 and its 200-day moving average price is $18.31. Starwood Property Trust, Inc. has a 1-year low of $16.59 and a 1-year high of $21.05. The firm has a market capitalization of $6.38 billion, a P/E ratio of 14.85, a P/E/G ratio of 2.30 and a beta of 1.05. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 3.10.
Starwood Property Trust (NYSE:STWD - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.01. The company had revenue of $492.95 million for the quarter, compared to analysts' expectations of $469.53 million. Starwood Property Trust had a net margin of 22.32% and a return on equity of 8.16%. The business's revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.48 EPS. Equities research analysts anticipate that Starwood Property Trust, Inc. will post 1.88 earnings per share for the current fiscal year.
Starwood Property Trust announced that its Board of Directors has approved a share buyback plan on Thursday, February 26th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the real estate investment trust to buy up to 6.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its stock is undervalued.
Starwood Property Trust Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a $0.48 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.92 annualized dividend and a yield of 11.1%. Starwood Property Trust's dividend payout ratio is presently 165.52%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on STWD shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Starwood Property Trust in a research report on Wednesday, January 21st. Bank of America reissued a "neutral" rating and issued a $19.00 price target on shares of Starwood Property Trust in a research report on Friday, March 6th. Wells Fargo & Company decreased their price target on shares of Starwood Property Trust from $22.00 to $21.00 and set an "outperform" rating for the company in a research note on Thursday, February 26th. Zacks Research upgraded shares of Starwood Property Trust from a "strong sell" rating to a "hold" rating in a report on Monday, January 12th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Starwood Property Trust from $20.50 to $20.00 and set an "outperform" rating on the stock in a research note on Monday, March 2nd. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $19.90.
Read Our Latest Research Report on Starwood Property Trust
Institutional Trading of Starwood Property Trust
Several institutional investors and hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC lifted its holdings in shares of Starwood Property Trust by 70.1% in the first quarter. AQR Capital Management LLC now owns 36,396 shares of the real estate investment trust's stock valued at $720,000 after purchasing an additional 15,001 shares in the last quarter. NewEdge Advisors LLC raised its position in Starwood Property Trust by 23.9% in the 1st quarter. NewEdge Advisors LLC now owns 19,606 shares of the real estate investment trust's stock valued at $388,000 after buying an additional 3,784 shares during the last quarter. Prudential Financial Inc. raised its position in Starwood Property Trust by 12.6% in the 2nd quarter. Prudential Financial Inc. now owns 34,556 shares of the real estate investment trust's stock valued at $678,000 after buying an additional 3,874 shares during the last quarter. J.W. Cole Advisors Inc. bought a new position in Starwood Property Trust during the 2nd quarter valued at $228,000. Finally, Russell Investments Group Ltd. lifted its stake in Starwood Property Trust by 1.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 95,395 shares of the real estate investment trust's stock valued at $1,916,000 after acquiring an additional 1,216 shares in the last quarter. 49.82% of the stock is owned by hedge funds and other institutional investors.
About Starwood Property Trust
(
Get Free Report)
Starwood Property Trust (NYSE: STWD) is a publicly traded real estate investment trust that specializes in originating, acquiring and managing commercial mortgage loans and other real estate-related investments. The company's portfolio spans a variety of asset classes, including senior mortgages, mezzanine debt, preferred equity and direct equity investments in commercial properties. By focusing on both debt and equity capital solutions, Starwood Property Trust seeks to generate attractive risk-adjusted returns for its shareholders through a combination of current income and capital appreciation.
Operating primarily in the United States, Starwood Property Trust deploys capital across a broad range of property types, such as multifamily residential, office, retail, hotel and industrial.
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