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Thu, Oct. 2, 9:45 AM| Comment!
Wed, Aug. 6, 8:28 AM
- Q2 core earnings of $115.2M or $0.51 per share vs. $69M and $0.42 one year ago. Excluding the LNR purchase and the SWAY spinoff, core EPS gained 48% Y/Y. Dividend is $0.48.
- Real Estate Investment Lending Segment core earnings of $76.2M up from $38.2M a year ago. Originations of $600M during Q, with another $1.1B of loans closed since June 30. Nearly all are Libor-based floating rate and company estimates a 100 basis point boost in Libor would increase income by $14M. Carrying value of investment portfolio of $5.8B and it's expected to generate a leveraged return of 10.2-10.8%. Average LTV of 65.2%.
- LNR Segment core earnings of $39M. Principal assets are CMBS, special servicing intangibles, and conduit loans. Total carrying value of investments is $1.081B.
- Full-year core EPS guidance of $2-$2.20 per share is affirmed.
- Conference call at 9 ET
- Previously: Starwood Property Trust misses by $0.01
- STWD flat premarket
Wed, Aug. 6, 6:35 AM
Tue, Aug. 5, 5:30 PM
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Wed, Jul. 23, 2:59 PM
- The 1M square foot California Center office complex in Pleasanton, CA was purchased by Swift Real Estate Partners for $160M. Starwood (STWD) provided $152M in financing, but before anyone worries about too steep of a LTV ratio, just $106.5M is for the purchase, and $45.5M will be used to pay for capital improvements.
Wed, Jul. 2, 2:47 PM| Comment!
Tue, Jul. 1, 1:09 PM
- Already deep into an investigation of nonbank servicers of residential mortgages, NY's Ben Lawsky is prepping a probe of commercial real estate loan servicers, reports Reuters.
- At issue are whether subsidiaries are wrongly profiting from loans they are servicing. A case in point is CWCapital (owned by Fortress) - one of the CMBS industry's top 3 servicers - which manages Stuyvesant Town's $3B in defaulted CMBS. CW also controls the sale process for the complex and Fortress Investment (FIG +1.1%) is putting together a bid.
- "What steps are they taking to prove they got market bids," says an observer. "That seems to me what [they] are going to check."
- Starwood Property Trust (STWD -3.6%) takes the news hard.
Tue, May. 6, 7:31 AM
- Core earnings of $121.5M or $0.60 per share compares to $58.1M and $0.43 a year ago. Excluding the LNR purchase, core earnings of $72.3M gained 24% Y/Y.
- Real Estate Investment Lending Segment originated/acquired $1.7B of new investments, of which $700M was funded. Nearly all are floating rate. Carrying value of portfolio as of March 31 of $5.6B, and is expected to generate an annualized leveraged return of 10.9%-11.5%.
- LNR Segment core earnings of $49.3M or $0.24 per share, up 10% from Q4.
- Book value per share of $16.57.
- Guidance: Core EPS expected at $2-$2.20.
- Rina Paniry - currently CFO of LNR Property - is promoted to CFO of Starwood (STWD), effective May 7.
- CC at 10 ET
- Previously: Starwood Property Trust beats by $0.06
- Source: Press Release
Tue, May. 6, 7:05 AM
Mon, May. 5, 5:30 PM
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Mon, Apr. 7, 4:21 PM
Mon, Mar. 10, 10:18 AM| 1 Comment
Wed, Feb. 26, 7:45 AM
- Core earnings of $121.2M or $0.62 per share compare to $64.5M or $0.48 per share a year ago as the LNR acquisition pays off.
- Real Estate Investment Lending originated/acquired $1.7B of new investments in Q4. 83% is tied to Libor while company debt is hedged - putting Starwood in position to benefit from rising rates. Carrying value of entire portfolio is $5.4B and expected to generate leveraged return of 10.8% to 11.8%.
- LNR Segment contributed core earnings of $45M or $0.23 per share. For the period since the April 19 acquisition, LNR boosted core earnings by $126.8M or $0.76 per share.
- Single Family segment was spun off to shareholders as Starwood Waypoint (SWAY).
- 2014 core EPS guidance of $2.00-$2.20 compares to $2.24 for 2013 (which included Starwood Waypoint).
- CC at 11 ET
- Press release, Q4 results
- STWD +0.7% premarket
Wed, Feb. 26, 7:03 AM
Wed, Feb. 26, 12:05 AM
Tue, Feb. 25, 5:30 PM
STWD vs. ETF Alternatives
Starwood Property Trust, Inc. originates, finances, manages and invests in commercial mortgage loans and other commercial real estate debt investments, commercial mortgage-backed securities, and other commercial real estate-related debt investments.
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