Sternlicht's Starwood Property slips after unveiling stock offering for acquisition

Starwood Property Trust (Maryland)

16/07/2025 21:44

** Shares of Starwood Property Trust Inc STWD.N, led by billionaire Barry Sternlicht, down 3.2% in extended trading to $20.18 after news of acquisition-related equity raise

** Florida-based commercial mortgage REIT announces 25.5 mln share offering to help fund purchase of Fundamental Income Properties

** Co says to buy the net lease platform for about $2.2 bln

** BofA and Wells Fargo are jt bookrunners for the stock offering

** STWD shares on Weds closed up 1.1% at $20.85, extending YTD gain to 10%

** With ~339.5 mln shares outstanding, co has $7 bln market cap, per LSEG data

** Avg rating among 8 analysts covering STWD is "buy" and median PT is $22.50

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@thomsonreuters.commailto:lance.tupper@tr.com 1-646-279-6380))