Grassi Investment Management Trims Stake in Starwood Property Trust, Inc. (NYSE:STWD)

Grassi Investment Management decreased its position in shares of Starwood Property Trust, Inc. (NYSE:STWD) by 24.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 37,200 shares of the real estate investment trust’s stock after selling 11,956 shares during the period. Grassi Investment Management’s holdings in Starwood Property Trust were worth $758,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Starwood Property Trust in the 1st quarter worth approximately $26,000. Altshuler Shaham Ltd purchased a new stake in shares of Starwood Property Trust in the 2nd quarter worth approximately $28,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Starwood Property Trust in the 3rd quarter worth approximately $34,000. Quarry LP purchased a new stake in shares of Starwood Property Trust in the 2nd quarter worth approximately $36,000. Finally, Godsey & Gibb Inc. purchased a new stake in shares of Starwood Property Trust in the 3rd quarter worth approximately $41,000. Hedge funds and other institutional investors own 49.82% of the company’s stock.

Starwood Property Trust Price Performance

NYSE STWD opened at $19.99 on Thursday. The business’s fifty day moving average price is $20.20 and its 200-day moving average price is $19.74. The stock has a market capitalization of $6.33 billion, a price-to-earnings ratio of 18.24 and a beta of 1.70. The company has a debt-to-equity ratio of 2.80, a current ratio of 1.84 and a quick ratio of 1.84. Starwood Property Trust, Inc. has a 1-year low of $17.07 and a 1-year high of $22.29.

Starwood Property Trust (NYSE:STWD) last released its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.04. The firm had revenue of $489.80 million for the quarter, compared to analysts’ expectations of $505.23 million. Starwood Property Trust had a return on equity of 10.03% and a net margin of 17.05%. The company’s revenue was down 5.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 EPS. On average, equities analysts predict that Starwood Property Trust, Inc. will post 1.88 earnings per share for the current year.

Starwood Property Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.92 annualized dividend and a dividend yield of 9.60%. Starwood Property Trust’s dividend payout ratio (DPR) is 176.15%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. 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. Keefe, Bruyette & Woods raised Starwood Property Trust from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $20.50 to $22.50 in a research report on Thursday, September 5th. JPMorgan Chase & Co. upped their price objective on Starwood Property Trust from $20.00 to $20.50 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Finally, Wells Fargo & Company upped their price objective on Starwood Property Trust from $22.00 to $24.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.36.

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.