Starwood Property Trust (NYSE:STWD) Price Target Raised to $24.00

Starwood Property Trust (NYSE:STWD) had its target price upped by Wells Fargo & Company from $22.00 to $24.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an outperform rating on the real estate investment trust’s stock.

Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. increased their price objective on Starwood Property Trust from $20.00 to $20.50 and gave the company an overweight rating in a report on Tuesday, July 16th. BTIG Research reissued a buy rating and set a $24.00 price objective on shares of Starwood Property Trust in a report on Friday, July 19th. Keefe, Bruyette & Woods upgraded shares of Starwood Property Trust from a market perform rating to an outperform rating and upped their target price for the company from $20.50 to $22.50 in a report on Thursday, September 5th. Finally, Wolfe Research initiated coverage on shares of Starwood Property Trust in a research note on Tuesday, June 25th. They set a peer perform rating on the stock. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $22.36.

Starwood Property Trust Stock Performance

Shares of Starwood Property Trust stock opened at $20.96 on Friday. The business has a 50-day simple moving average of $20.03 and a 200-day simple moving average of $19.75. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.84 and a current ratio of 1.84. Starwood Property Trust has a one year low of $17.07 and a one year high of $22.29. The company has a market cap of $6.62 billion, a PE ratio of 15.08 and a beta of 1.70.

Starwood Property Trust (NYSE:STWD) last posted its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported $0.48 EPS for the quarter, topping the consensus estimate of $0.44 by $0.04. The company had revenue of $489.80 million during the quarter, compared to analysts’ expectations of $505.23 million. Starwood Property Trust had a net margin of 17.05% and a return on equity of 10.03%. The firm’s revenue was down 5.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.47 EPS. On average, equities research analysts forecast that Starwood Property Trust will post 1.89 EPS for the current fiscal year.

Starwood Property Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.16%. Starwood Property Trust’s payout ratio is 138.13%.

Institutional Investors Weigh In On Starwood Property Trust

Several hedge funds have recently modified their holdings of STWD. Norges Bank acquired a new position in Starwood Property Trust in the 4th quarter valued at $62,447,000. Premier Fund Managers Ltd purchased a new position in Starwood Property Trust during the fourth quarter worth about $9,276,000. MGO One Seven LLC lifted its position in Starwood Property Trust by 836.9% in the fourth quarter. MGO One Seven LLC now owns 437,819 shares of the real estate investment trust’s stock valued at $9,203,000 after purchasing an additional 391,087 shares during the period. Lighthouse Investment Partners LLC purchased a new stake in Starwood Property Trust in the 2nd quarter valued at approximately $5,455,000. Finally, Blue Owl Capital Holdings LP acquired a new position in Starwood Property Trust during the 2nd quarter worth approximately $4,289,000. 49.82% of the stock is owned by institutional investors and hedge funds.

Starwood Property Trust Company Profile

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.