Starwood Property Trust (NYSE: STWD) reported Q3 EPS of $0.50, $0.03 better than the analyst estimate of $0.47. Revenue for the quarter came in at $267.43 million versus the consensus estimate of $254.6 million.

• Quarterly GAAP Earnings of $0.52 and Core Earnings of $0.50 per Diluted Share
• Originated or Acquired $1.5 Billion of Assets
• Paid Third Quarter Dividend of $0.48 per Share
• Subsequent to Quarter End, Issued $550 Million of Corporate Debt

"We shifted from a cautious stance in the second quarter and deployed $1.5 billion in the third quarter, taking advantage of the most compelling risk adjusted returns presented across our various business lines. We also proactively addressed the near-term maturity of our $500 million February 2021 notes by successfully completing two successful debt raises, including issuing our first ever sustainability bond.

Our diversified platform showed its power versus pure play commercial mortgage REITs, as we deployed nearly two thirds of the capital this quarter outside our core commercial real estate lending business. Our owned real estate portfolio, over half of which consists of affordable housing, continues to shine, producing a cash on cash yield exceeding 15%. We estimate that we have approximately $3.00 per share of unrealized gains across our owned property assets today. With over $880 million of cash and undrawn debt capacity, our liquidity remains strong and we remain well positioned to selectively deploy capital going forward," commented Barry Sternlicht, Chairman and CEO of Starwood Property Trust.

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