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STWD Starwood Property Trust (Maryland) News Story

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Starwood Property Trust misses Q1 distributable earnings estimates

Overview

US real estate finance firm's Q1 distributable earnings missed analyst expectations

GAAP net income for Q1 was $51.9 mln

Company invested $2.5 bln in Q1 and $1.5 bln after quarter end

Outlook

Company did not provide specific financial guidance for the current or future periods

Result Drivers

BALANCE SHEET OPTIMIZATION - Co completed infrastructure CLO at record tight credit spread and refinanced ABS transaction at lower cost, per President Jeffrey DiModica

Company press release: ID:nPn3BQJg0a

Key Details

MetricBeat/MissActualConsensus Estimate
Q1 Distributable EarningsMiss$147.30 mln$160.60 mln (5 Analysts)
Q1 Net Income$51.90 mln
Analyst Coverage The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell" The average consensus recommendation for the specialized reits peer group is "buy" Wall Street's median 12-month price target for Starwood Property Trust Inc is $20.00, about 10.8% above its May 7 closing price of $18.05 The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 10 three months ago For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com. (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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