Starwood Property Trust Earnings: Here’s Why Shares are Up Now
Starwood Property Trust, Inc. (NYSE:STWD) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.62%.
Starwood Property Trust, Inc. Earnings Cheat Sheet
Revenue: Rose 86.52% to $137 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Starwood Property Trust, Inc. reported adjusted EPS income of $0.52 per share. It beat the average revenue estimate of $50.75 million.
Quoting Management: “The combination of our operating and origination platform with LNR’s businesses resulted in excellent results for the quarter,” commented Barry Sternlicht, Chairman and CEO of Starwood Property Trust. “With the accretive deployment of over $3 billion of capital since the start of the year, we believe that we are very well positioned to continue to outperform as we made substantial progress in all of our business lines in the quarter. Our core lending business experienced rapid growth, we began to invest in new business lines through LNR and we expanded our residential platform to reach critical mass. We are now very active in Europe and look forward to systematically deploying capital in accretive proprietary opportunities.”
Key Stats (on next page)…
Revenue increased 31.36% from $104.29 million in the previous quarter.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)