Zacks Investment Research Upgrades Starwood Property Trust, Inc. (STWD) to Buy
Starwood Property Trust, Inc. (NYSE:STWD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage presently has a $24.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.37% from the company’s current price.
According to Zacks, “Starwood Property Trust, Inc. is a newly formed company that is focused primarily on originating, investing in, financing and managing commercial mortgage loans and other commercial real estate-related debt investments. Starwood Property Trust, Inc. will be externally managed and advised by SPT Management, LLC, an affiliate of Starwood Capital Group and intends to elect to be taxed as a real estate investment trust (REIT) for U.S. federal income tax purposes. “
A number of other research firms have also recently commented on STWD. B. Riley reissued a “buy” rating and set a $24.00 price target on shares of Starwood Property Trust in a report on Thursday, November 9th. Compass Point upgraded Starwood Property Trust from a “neutral” rating to a “buy” rating in a research report on Wednesday, October 25th. ValuEngine upgraded Starwood Property Trust from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, BidaskClub upgraded Starwood Property Trust from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $24.00.
Starwood Property Trust (NYSE:STWD) opened at $21.55 on Wednesday. Starwood Property Trust has a twelve month low of $21.27 and a twelve month high of $23.01. The company has a market capitalization of $5,620.00, a price-to-earnings ratio of 10.34, a P/E/G ratio of 2.05 and a beta of 0.37. The company has a quick ratio of 2.47, a current ratio of 2.47 and a debt-to-equity ratio of 1.68.
Starwood Property Trust (NYSE:STWD) last announced its earnings results on Wednesday, November 8th. The real estate investment trust reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.11. Starwood Property Trust had a return on equity of 11.88% and a net margin of 52.28%. The company had revenue of $226.77 million for the quarter, compared to analysts’ expectations of $236.76 million. During the same period last year, the firm earned $0.59 EPS. Starwood Property Trust’s revenue for the quarter was up 10.8% compared to the same quarter last year. analysts anticipate that Starwood Property Trust will post 2.12 earnings per share for the current year.
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In related news, CFO Rina Paniry sold 6,867 shares of Starwood Property Trust stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $21.96, for a total value of $150,799.32. Following the completion of the transaction, the chief financial officer now owns 100,026 shares in the company, valued at $2,196,570.96. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Andrew Jay Sossen sold 11,270 shares of Starwood Property Trust stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $21.94, for a total value of $247,263.80. Following the completion of the transaction, the chief operating officer now owns 108,258 shares of the company’s stock, valued at approximately $2,375,180.52. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in STWD. Principal Financial Group Inc. lifted its stake in Starwood Property Trust by 40.7% in the first quarter. Principal Financial Group Inc. now owns 54,361 shares of the real estate investment trust’s stock worth $1,227,000 after purchasing an additional 15,727 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Starwood Property Trust in the first quarter worth about $11,294,000. Bank of Montreal Can lifted its stake in Starwood Property Trust by 1,026.9% in the second quarter. Bank of Montreal Can now owns 510,500 shares of the real estate investment trust’s stock worth $11,430,000 after purchasing an additional 465,198 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new stake in Starwood Property Trust in the second quarter worth about $564,000. Finally, Creative Planning lifted its stake in Starwood Property Trust by 41.7% in the second quarter. Creative Planning now owns 31,177 shares of the real estate investment trust’s stock worth $698,000 after purchasing an additional 9,168 shares during the last quarter. 68.04% of the stock is owned by institutional investors and hedge funds.
About Starwood Property Trust
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