Wells Fargo & Company Increases Starwood Property Trust (NYSE:STWD) Price Target to $24.00

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

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

Starwood Property Trust Stock Performance

STWD stock opened at $20.85 on Friday. The firm has a market cap of $6.59 billion, a price-to-earnings ratio of 15.00 and a beta of 1.70. The firm has a 50-day simple moving average of $20.05 and a two-hundred day simple moving average of $19.75. Starwood Property Trust has a one year low of $17.07 and a one year high of $22.29. 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 (NYSE:STWD) last released its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported $0.48 EPS for the quarter, beating the consensus estimate of $0.44 by $0.04. The business had revenue of $489.80 million during the quarter, compared to analyst estimates of $505.23 million. Starwood Property Trust had a net margin of 17.05% and a return on equity of 10.03%. The company’s quarterly revenue was down 5.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.47 earnings per share. On average, equities analysts forecast that Starwood Property Trust will post 1.89 EPS for the current fiscal year.

Starwood Property Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid 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 yield of 9.21%. Starwood Property Trust’s dividend payout ratio is currently 138.13%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STWD. Allspring Global Investments Holdings LLC purchased a new position in Starwood Property Trust in the 1st quarter valued at $26,000. ICA Group Wealth Management LLC purchased a new position in shares of Starwood Property Trust during the 4th quarter worth $28,000. Altshuler Shaham Ltd purchased a new position in shares of Starwood Property Trust during the 2nd quarter worth $28,000. Cape Investment Advisory Inc. purchased a new position in shares of Starwood Property Trust during the 4th quarter worth $32,000. Finally, Core Wealth Advisors Inc. purchased a new position in shares of Starwood Property Trust during the 4th quarter worth $32,000. Hedge funds and other institutional investors own 49.82% of the company’s stock.

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.