Raymond James & Associates cut its stake in Starwood Property Trust, Inc. (NYSE:STWD – Free Report) by 7.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,083,709 shares of the real estate investment trust’s stock after selling 88,694 shares during the period. Raymond James & Associates owned approximately 0.34% of Starwood Property Trust worth $20,525,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Starwood Property Trust by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 28,852,499 shares of the real estate investment trust’s stock valued at $606,480,000 after purchasing an additional 72,461 shares in the last quarter. Norges Bank acquired a new position in shares of Starwood Property Trust during the 4th quarter worth $62,447,000. Wells Fargo & Company MN boosted its position in shares of Starwood Property Trust by 2.7% in the 4th quarter. Wells Fargo & Company MN now owns 2,246,265 shares of the real estate investment trust’s stock worth $47,216,000 after buying an additional 58,836 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Starwood Property Trust by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,929,579 shares of the real estate investment trust’s stock valued at $40,560,000 after acquiring an additional 52,613 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in Starwood Property Trust by 4.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 1,386,747 shares of the real estate investment trust’s stock valued at $28,193,000 after acquiring an additional 64,675 shares in the last quarter. 49.82% of the stock is currently owned by institutional investors and hedge funds.
Starwood Property Trust Stock Up 0.8 %
Shares of NYSE:STWD opened at $20.06 on Thursday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 2.80. The firm has a market cap of $6.35 billion, a price-to-earnings ratio of 14.43 and a beta of 1.69. The stock’s 50-day moving average price is $19.52 and its two-hundred day moving average price is $19.65. Starwood Property Trust, Inc. has a 12-month low of $17.07 and a 12-month high of $22.29.
Starwood Property Trust (NYSE:STWD – Get Free Report) last released its earnings results on Tuesday, August 6th. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.04. Starwood Property Trust had a net margin of 17.05% and a return on equity of 10.03%. The business had revenue of $489.80 million for the quarter, compared to analysts’ expectations of $505.23 million. During the same period last year, the company earned $0.47 earnings per share. The company’s quarterly revenue was down 5.0% on a year-over-year basis. On average, research analysts forecast that Starwood Property Trust, Inc. will post 1.91 EPS for the current year.
Starwood Property Trust Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.48 per share. The ex-dividend date is Monday, September 30th. This represents a $1.92 annualized dividend and a dividend yield of 9.57%. Starwood Property Trust’s dividend payout ratio is presently 138.13%.
Analysts Set New Price Targets
STWD has been the topic of several research reports. BTIG Research reiterated a “buy” rating and issued a $24.00 price target on shares of Starwood Property Trust in a research report on Friday, July 19th. JPMorgan Chase & Co. raised their price target on Starwood Property Trust from $20.00 to $20.50 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Keefe, Bruyette & Woods upped their price objective on Starwood Property Trust from $20.00 to $20.50 and gave the company a “market perform” rating in a research report on Friday, August 9th. Wolfe Research initiated coverage on shares of Starwood Property Trust in a research note on Tuesday, June 25th. They issued a “peer perform” rating for the company. Finally, Raymond James reduced their target price on shares of Starwood Property Trust from $23.50 to $23.00 and set a “strong-buy” rating on the stock in a report on Thursday, May 16th. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.79.
Read Our Latest Stock Analysis on Starwood Property Trust
About Starwood Property Trust
Starwood Property Trust, Inc operates as a real estate investment trust (REIT) in the United States and internationally. The company operates through Commercial and Residential Lending, Infrastructure Lending, Property, and Investing and Servicing segments. The Commercial and Residential Lending segment originates, acquires, finances, and manages commercial first mortgages, non-agency residential mortgages, subordinated mortgages, mezzanine loans, preferred equity, commercial mortgage-backed securities (CMBS), and residential mortgage-backed securities, as well as other real estate and real estate-related debt investments, include distressed or non-performing loans.
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