Summit Securities Group LLC Reduces Stock Holdings in Starwood Property Trust, Inc. $STWD

Key Points

• Summit Securities Group LLC has significantly reduced its stake in Starwood Property Trust, cutting holdings by 94.6% to just 1,700 shares worth approximately $34,000.
• Starwood Property Trust recently reported earnings of $0.43 per share, exceeding analyst expectations, but revenue fell 9.3% year-over-year.
• The company announced a quarterly dividend of $0.48 per share, yielding 9.7%, with a payout ratio of 176.15%.

Summit Securities Group LLC decreased its position in shares of Starwood Property Trust, Inc. (NYSE:STWD - Free Report) by 94.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,700 shares of the real estate investment trust's stock after selling 30,000 shares during the quarter. Summit Securities Group LLC's holdings in Starwood Property Trust were worth $34,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. XTX Topco Ltd purchased a new position in Starwood Property Trust during the 4th quarter worth $271,000. NewEdge Advisors LLC increased its position in shares of Starwood Property Trust by 25.7% during the fourth quarter. NewEdge Advisors LLC now owns 15,822 shares of the real estate investment trust's stock valued at $300,000 after buying an additional 3,236 shares during the period. Commerce Bank increased its position in shares of Starwood Property Trust by 28.3% during the fourth quarter. Commerce Bank now owns 19,402 shares of the real estate investment trust's stock valued at $368,000 after buying an additional 4,276 shares during the period. First Trust Advisors LP grew its holdings in shares of Starwood Property Trust by 36.0% during the fourth quarter. First Trust Advisors LP now owns 373,918 shares of the real estate investment trust's stock worth $7,086,000 after purchasing an additional 98,974 shares in the last quarter. Finally, MetLife Investment Management LLC grew its holdings in shares of Starwood Property Trust by 10.0% during the fourth quarter. MetLife Investment Management LLC now owns 180,427 shares of the real estate investment trust's stock worth $3,419,000 after purchasing an additional 16,415 shares in the last quarter. Institutional investors own 49.82% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on STWD. JPMorgan Chase & Co. boosted their price objective on Starwood Property Trust from $19.00 to $19.50 and gave the stock an "overweight" rating in a report on Monday, May 12th. Keefe, Bruyette & Woods boosted their price objective on Starwood Property Trust from $21.00 to $22.00 and gave the stock an "outperform" rating in a report on Thursday, July 10th. Wall Street Zen raised Starwood Property Trust from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, UBS Group upped their target price on Starwood Property Trust from $19.50 to $20.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $21.70.

Starwood Property Trust Price Performance

STWD traded up $0.3530 during midday trading on Friday, hitting $20.2430. The stock had a trading volume of 3,105,283 shares, compared to its average volume of 2,853,110. The company has a market cap of $7.43 billion, a P/E ratio of 18.57 and a beta of 1.26. Starwood Property Trust, Inc. has a 1 year low of $16.59 and a 1 year high of $21.17. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.61 and a current ratio of 1.61. The business has a fifty day moving average of $20.11 and a 200 day moving average of $19.73.

Starwood Property Trust (NYSE:STWD - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The real estate investment trust reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.02. The firm had revenue of $444.28 million during the quarter, compared to analyst estimates of $477.00 million. Starwood Property Trust had a return on equity of 8.72% and a net margin of 20.58%.The business's quarterly revenue was down 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.48 earnings per share. As a group, equities analysts forecast that Starwood Property Trust, Inc. will post 1.88 earnings per share for the current fiscal year.

Starwood Property Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.5%. The ex-dividend date is Tuesday, September 30th. Starwood Property Trust's dividend payout ratio is currently 176.15%.

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.