Starwood Property Trust (STWD) Misses Q1 EPS by 24c, Revenues In-Line

Starwood Property Trust (NYSE: STWD) reported Q1 EPS of $0.28, $0.24 worse than the analyst estimate of $0.52. Revenue for the quarter came in at $310.48 million versus the consensus estimate of $310.46 million.

"Our multi-cylinder platform continues to generate consistent returns, led by our commercial lending business, which deployed $1.0 billion of capital during the quarter. We are also proud of the performance of our owned property portfolio, marked by 98% occupancy and stable and growing double-digit cash returns on invested capital. We believe this portfolio on an undepreciated basis has over $500 million in unrealized gains," commented Barry Sternlicht, Chairman and CEO of Starwood Property Trust.

"We continue to source attractive and high credit quality investments across our businesses, with our commercial lending portfolio growing to $8.2 billion and our asset base growing to $16.7 billion, both record highs. With low leverage, ample capacity and the ability to monetize appreciated assets, our balance sheet and access to capital remain strong. We believe we are well-positioned to execute on our long-term business plan, regardless of interest rate environment, by prudently allocating capital across our multiple cylinders to generate attractive and sustainable risk adjusted returns for our shareholders."

For earnings history and earnings-related data on Starwood Property Trust (STWD) click here.

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