Starwood Property Trust, Inc. $STWD Shares Newly Purchased by Bank of America Corp DE

Key Points

• Bank of America acquired 1.19 million Starwood Property Trust shares in the second quarter, worth approximately $19.5 million and representing about 0.32% of the company.
• STWD shares fell 2.4% to $14.34, near their 12-month low of $14.33. Institutional investors collectively own 49.82% of the stock.
• Starwood reported quarterly EPS of $0.40, in line with estimates, while revenue rose 15.6% year over year. The company declared a $0.48 quarterly dividend, equivalent to a 13.4% annualized yield, and analysts maintain a “Moderate Buy” consensus with a $19.20 target price.

Bank of America Corp DE purchased a new position in shares of Starwood Property Trust, Inc. (NYSE:STWD - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,192,709 shares of the real estate investment trust's stock, valued at approximately $19,537,000. Bank of America Corp DE owned approximately 0.32% of Starwood Property Trust as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Quantum Portfolio Management LLC raised its holdings in Starwood Property Trust by 882,760.9% during the 1st quarter. Quantum Portfolio Management LLC now owns 112,176,302 shares of the real estate investment trust's stock worth $1,931,676,000 after purchasing an additional 112,163,596 shares during the last quarter. BlackRock Inc. acquired a new stake in Starwood Property Trust during the 2nd quarter worth $589,366,000. Geode Capital Management LLC raised its position in shares of Starwood Property Trust by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 6,406,419 shares of the real estate investment trust's stock valued at $115,453,000 after acquiring an additional 148,740 shares during the last quarter. Advisors Capital Management LLC acquired a new position in shares of Starwood Property Trust in the 2nd quarter valued at $70,121,000. Finally, Norges Bank acquired a new position in shares of Starwood Property Trust in the 4th quarter valued at $75,177,000. Institutional investors own 49.82% of the company's stock.

Starwood Property Trust Trading Down 2.4%

Shares of STWD stock opened at $14.34 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 3.47. Starwood Property Trust, Inc. has a 12-month low of $14.33 and a 12-month high of $20.14. The firm has a 50 day moving average price of $16.00 and a two-hundred day moving average price of $16.84. The company has a market capitalization of $5.31 billion, a PE ratio of 24.31, a price-to-earnings-growth ratio of 1.99 and a beta of 0.98.

Starwood Property Trust (NYSE:STWD - Get Free Report) last released its earnings results on Thursday, August 6th. The real estate investment trust reported $0.40 EPS for the quarter, meeting the consensus estimate of $0.40. Starwood Property Trust had a net margin of 11.35% and a return on equity of 7.85%. The firm had revenue of $201.42 million for the quarter, compared to analyst estimates of $521.67 million. During the same period last year, the firm earned $0.43 EPS. The business's quarterly revenue was up 15.6% compared to the same quarter last year. As a group, analysts predict that Starwood Property Trust, Inc. will post 1.4 earnings per share for the current year.

Starwood Property Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.92 annualized dividend and a yield of 13.4%. Starwood Property Trust's dividend payout ratio (DPR) is currently 325.42%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on STWD. UBS Group initiated coverage on Starwood Property Trust in a research report on Tuesday, June 2nd. They set a "buy" rating and a $20.00 target price for the company. Zacks Research upgraded shares of Starwood Property Trust from a "strong sell" rating to a "hold" rating in a report on Thursday, June 25th. Wall Street Zen downgraded shares of Starwood Property Trust from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Citigroup reiterated a "market outperform" rating on shares of Starwood Property Trust in a report on Thursday. Finally, Wells Fargo & Company set a $20.00 price objective on Starwood Property Trust in a research note on Monday, August 17th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.20.

Starwood Property Trust Profile

Starwood Property Trust, Inc is a real estate investment trust focused primarily on commercial real estate finance. The company originates, acquires, finances and manages a range of commercial real estate debt investments, including first mortgage loans, mezzanine loans, subordinated debt and securities backed by commercial properties.

Its activities also include infrastructure lending, residential lending and the ownership or management of commercial real estate investments. Through these businesses, Starwood Property Trust provides financing to property owners, developers and investors across sectors such as office, multifamily, industrial, hospitality and other commercial real estate categories.

Founded in 2009, the company operates primarily in the United States and also pursues investment opportunities in international markets, including Europe.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.