Starwood Property Trust (NYSE: STWD) reported Q3 EPS of $0.52, in-line with the analyst estimate of $0.52. Revenue for the quarter came in at $288.33 million versus the consensus estimate of $348.5 million.

"We had another strong quarter, with over $2.5 billion of capital deployed across all our segments, including $1.2 billion in Commercial Lending. Notably, our non-agency residential lending business continued to expand with purchases of over $600 million of loans and the completion of our fourth and largest securitization for $546 million. We also continue to experience growing, double-digit yields in our Property segment. We expect that these yields will increase over 200 basis points as a result of the $180 million partial cash out refinance of our medical office portfolio and first multifamily portfolio, which have appreciated meaningfully since acquisition. Our pipeline remains robust, and we expect to invest this capital accretively as we continue to utilize our global organization to find the best opportunities across our cylinders," commented Barry Sternlicht, Chairman and CEO of Starwood Property Trust.

Added Jeffrey DiModica, President of Starwood Property Trust, "During the quarter, we continued to reduce our reliance on warehouse financing, completing our first $1.1 billion CRE CLO. The transaction was structurally superior, reducing balance sheet exposure, and with a higher advance rate and lower cost of funds than the repurchase facilities it replaced. We also executed on a $400 million term loan, which allowed us to increase our unencumbered asset base, providing us with additional capacity to issue attractive corporate debt in the future. We ended the quarter with a record high of over $8.0 billion of available capacity across our financing facilities, giving us tremendous flexibility as investment opportunities arise."

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