Red Door Wealth Management LLC Cuts Position in Starwood Property Trust, Inc. (NYSE:STWD)

Red Door Wealth Management LLC reduced its holdings in shares of Starwood Property Trust, Inc. (NYSE:STWD) by 24.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,509 shares of the real estate investment trust’s stock after selling 6,490 shares during the quarter. Red Door Wealth Management LLC’s holdings in Starwood Property Trust were worth $417,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Cornerstone Wealth Group LLC acquired a new stake in shares of Starwood Property Trust in the first quarter valued at about $207,000. Hennion & Walsh Asset Management Inc. grew its position in Starwood Property Trust by 96.6% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 34,255 shares of the real estate investment trust’s stock valued at $696,000 after acquiring an additional 16,835 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Starwood Property Trust during the first quarter valued at approximately $44,000. Hoxton Planning & Management LLC purchased a new stake in shares of Starwood Property Trust during the first quarter valued at approximately $219,000. Finally, Salem Investment Counselors Inc. boosted its stake in shares of Starwood Property Trust by 80.0% in the first quarter. Salem Investment Counselors Inc. now owns 1,800 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 800 shares during the period. Institutional investors and hedge funds own 49.82% of the company’s stock.

Starwood Property Trust Stock Performance

STWD traded up $0.26 during trading hours on Friday, hitting $18.94. 2,761,631 shares of the stock were exchanged, compared to its average volume of 1,990,576. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of 13.63 and a beta of 1.68. The stock has a 50-day simple moving average of $19.49 and a 200-day simple moving average of $20.03. The company has a debt-to-equity ratio of 2.80, a current ratio of 2.49 and a quick ratio of 2.49. Starwood Property Trust, Inc. has a 12 month low of $17.07 and a 12 month high of $22.29.

Starwood Property Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a $0.48 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 10.14%. Starwood Property Trust’s payout ratio is currently 138.13%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on STWD. Raymond James dropped their price target on shares of Starwood Property Trust from $23.50 to $23.00 and set a “strong-buy” rating on the stock in a research note on Thursday, May 16th. Bank of America reiterated a “neutral” rating and issued a $21.50 price target (down previously from $22.50) on shares of Starwood Property Trust in a research note on Monday, March 4th. BTIG Research lowered their price objective on Starwood Property Trust from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Wolfe Research assumed coverage on Starwood Property Trust in a research report on Tuesday, June 25th. They issued a “peer perform” rating on the stock. Finally, JPMorgan Chase & Co. reduced their target price on Starwood Property Trust from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Starwood Property Trust currently has an average rating of “Moderate Buy” and an average target price of $21.88.

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.