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2026-08-11 08:55 29d ago
2026-08-11 01:02 29d ago
Starwood Property Trust zatím nepokrývá dividendu
STWD Starwood Property Trust
FMP Stock News 92
Original source text
Starwood Property Trust (NYSE:STWD) reported second-quarter distributable earnings of $152 million, or $0.40 per share, as the company continued to work through non-accrual loans and real estate-owned assets while increasing investment activity and extending its debt maturities.

Chief Financial Officer Rina Paniry said results continued to reflect the earnings impact of non-accrual and REO assets, as well as elevated cash balances. The company reported no new non-accrual loans, no new five-rated loans and no new REO assets during the quarter or year to date.

“As our new non-accrual and REO loans have slowed, we have gained momentum in resolutions,” Paniry said.

Asset Resolutions and Reserve Position Starwood Property Trust ended the quarter with approximately $1.9 billion of non-accrual and REO assets on a distributable-earnings basis, excluding $706 million of reserves already reflected in book value. The reserve total included $485 million of CECL reserves and $221 million of REO reserves.

The company expects to resolve roughly $800 million, or 40%, of its current non-accrual and REO balance by the end of 2026, subject to market conditions. It is under contract or in discussions to sell three REO properties and multiple units in a New York City residential project. Those transactions are expected to generate $148 million in cash proceeds and resolve $195 million of assets on a distributable-earnings basis during the third quarter.

Paniry said the anticipated sales are expected to produce an approximately $47 million realized loss in third-quarter distributable earnings. One asset was repriced following higher interest rates, creating a $12 million difference from its GAAP mark. Absent that adjustment, she said the company’s GAAP reserves aligned with expected sale prices.

President Jeff DiModica said three multifamily loans were downgraded to four-risk ratings during the quarter: a $73 million property in Phoenix, a $63 million property in Clearwater, Florida, and a $74 million property in Mesa, Arizona. He attributed the downgrades to higher forward rates and pressure on near-term cash flow in some Sun Belt multifamily markets following elevated supply.

Subsequent to quarter-end, two office loans repaid at par for a combined $171 million, reducing U.S. office exposure to 7.6% of assets and global office exposure to 8.9%, both company lows, according to DiModica.

Investment Activity and Segment Results The company deployed $2.5 billion across its businesses during the second quarter and another $1.7 billion in July, bringing year-to-date investment activity to $6.7 billion. DiModica said the company was on pace for a record year of investment activity and expected the third quarter to be its strongest commercial-lending origination quarter.

Commercial and residential lending generated distributable earnings of $186 million, or $0.49 per share. In commercial lending, Starwood originated $1.4 billion and funded more than $1 billion, including preexisting commitments. Following $447 million of repayments, the funded loan portfolio reached a record $17.3 billion.

Infrastructure lending committed $441 million during the quarter, with the portfolio ending at $3.1 billion after comparable repayment activity. DiModica said 92% of the infrastructure portfolio was internally rated one or two, while 97% of loans had public or private Moody’s ratings.

The property segment contributed $34 million, or $0.09 per share, of distributable earnings. At Woodstar, the company’s Florida affordable-multifamily portfolio, Starwood began implementing authorized 8.4% HUD rent increases on July 1. The company expects the earnings benefit to begin appearing in third-quarter results.

Starwood also expects to refinance $416 million of Woodstar debt maturing within six months. Paniry said the company anticipates an approximately $140 million financing upsize, of which Starwood’s share would be about $110 million for reinvestment.

In net lease, distributable earnings rose to $0.05 per share from $0.03 in the prior quarter. The company acquired $179 million of properties during the quarter at a blended 7.39% capitalization rate. The portfolio totaled $2.7 billion across 527 properties in 44 states, with 100% occupancy, zero defaults and a weighted average lease term of 16.8 years.

Capital Markets and Liquidity Starwood completed $2.1 billion of corporate debt transactions in the second quarter, including $1.1 billion of unsecured senior notes and a $275 million increase to its Term Loan B. It also repriced an existing $696 million term loan to SOFR plus 200 basis points.

After quarter-end, the company repaid $400 million of July 2026 notes and prepaid $500 million of January 2027 notes. DiModica said Starwood has no further corporate debt maturities until July 2027 and has extended weighted average corporate debt maturities to approximately three years.

The company had $1.2 billion of current liquidity at quarter-end and a debt-to-undepreciated-equity ratio of 2.74 times. Its unencumbered asset pool totaled $6.9 billion against $4.5 billion of unsecured debt.

Paniry said the early redemption of the January 2027 notes will produce a $6.3 million third-quarter loss on extinguishment of debt because of the termination of an associated interest-rate hedge. However, she said replacing the prior obligation with new 5.875% notes is expected to save more than $15 million over the next five years.

Dividend, Buybacks and Outlook Chairman and Chief Executive Officer Barry Sternlicht acknowledged that the company is not currently earning enough to cover its dividend, but said management remains confident that resolving underperforming assets and redeploying capital into new investments can restore earnings power.

“We’re pretty confident in our ability to get back to the earnings power that we’ll need to drive the dividend and restore our coverage of dividend,” Sternlicht said.

He said the company is not considering a dividend-policy change at present, though it would revisit that position if conditions materially changed. Starwood repurchased $30 million of stock year to date under its $400 million authorization, and management indicated it could become more active in repurchases.

Looking ahead, Sternlicht said Starwood plans to discuss a new business line during its next quarterly update and continues to evaluate acquisition and sector-consolidation opportunities.

About Starwood Property Trust (NYSE:STWD) Starwood Property Trust (NYSE: STWD) is a publicly traded real estate investment trust that specializes in originating, acquiring and managing commercial mortgage loans and other real estate-related investments. The company’s portfolio spans a variety of asset classes, including senior mortgages, mezzanine debt, preferred equity and direct equity investments in commercial properties. By focusing on both debt and equity capital solutions, Starwood Property Trust seeks to generate attractive risk-adjusted returns for its shareholders through a combination of current income and capital appreciation.

Operating primarily in the United States, Starwood Property Trust deploys capital across a broad range of property types, such as multifamily residential, office, retail, hotel and industrial.
2026-08-09 08:47 1mo ago
2026-08-09 04:04 1mo ago
Starwood Property Trust zvýšil zisk a investice
STWD Starwood Property Trust
FMP Stock News 86
Original source text
MarketBeat Week in Review – 03/30 - 04/03Starwood Property Trust NYSE: STWD reported second-quarter distributable earnings of $152 million, or $0.40 per share, as the company continued to work through non-accrual loans and real estate-owned assets while increasing investment activity and extending its debt maturities.

Chief Financial Officer Rina Paniry said results continued to reflect the earnings impact of non-accrual and REO assets, as well as elevated cash balances. The company reported no new non-accrual loans, no new five-rated loans and no new REO assets during the quarter or year to date.

Get STWD alerts:

Starwood Shares Have Struggled, but Catalysts Could Signal a Turn“As our new non-accrual and REO loans have slowed, we have gained momentum in resolutions,” Paniry said.

Asset Resolutions and Reserve Position Starwood Property Trust ended the quarter with approximately $1.9 billion of non-accrual and REO assets on a distributable-earnings basis, excluding $706 million of reserves already reflected in book value. The reserve total included $485 million of CECL reserves and $221 million of REO reserves.

Here's Who Wins If Trump's 50-Year Mortgages Come to MarketThe company expects to resolve roughly $800 million, or 40%, of its current non-accrual and REO balance by the end of 2026, subject to market conditions. It is under contract or in discussions to sell three REO properties and multiple units in a New York City residential project. Those transactions are expected to generate $148 million in cash proceeds and resolve $195 million of assets on a distributable-earnings basis during the third quarter.

Paniry said the anticipated sales are expected to produce an approximately $47 million realized loss in third-quarter distributable earnings. One asset was repriced following higher interest rates, creating a $12 million difference from its GAAP mark. Absent that adjustment, she said the company’s GAAP reserves aligned with expected sale prices.

President Jeff DiModica said three multifamily loans were downgraded to four-risk ratings during the quarter: a $73 million property in Phoenix, a $63 million property in Clearwater, Florida, and a $74 million property in Mesa, Arizona. He attributed the downgrades to higher forward rates and pressure on near-term cash flow in some Sun Belt multifamily markets following elevated supply.

Subsequent to quarter-end, two office loans repaid at par for a combined $171 million, reducing U.S. office exposure to 7.6% of assets and global office exposure to 8.9%, both company lows, according to DiModica.

Investment Activity and Segment Results The company deployed $2.5 billion across its businesses during the second quarter and another $1.7 billion in July, bringing year-to-date investment activity to $6.7 billion. DiModica said the company was on pace for a record year of investment activity and expected the third quarter to be its strongest commercial-lending origination quarter.

Commercial and residential lending generated distributable earnings of $186 million, or $0.49 per share. In commercial lending, Starwood originated $1.4 billion and funded more than $1 billion, including preexisting commitments. Following $447 million of repayments, the funded loan portfolio reached a record $17.3 billion.

Infrastructure lending committed $441 million during the quarter, with the portfolio ending at $3.1 billion after comparable repayment activity. DiModica said 92% of the infrastructure portfolio was internally rated one or two, while 97% of loans had public or private Moody’s ratings.

The property segment contributed $34 million, or $0.09 per share, of distributable earnings. At Woodstar, the company’s Florida affordable-multifamily portfolio, Starwood began implementing authorized 8.4% HUD rent increases on July 1. The company expects the earnings benefit to begin appearing in third-quarter results.

Starwood also expects to refinance $416 million of Woodstar debt maturing within six months. Paniry said the company anticipates an approximately $140 million financing upsize, of which Starwood’s share would be about $110 million for reinvestment.

In net lease, distributable earnings rose to $0.05 per share from $0.03 in the prior quarter. The company acquired $179 million of properties during the quarter at a blended 7.39% capitalization rate. The portfolio totaled $2.7 billion across 527 properties in 44 states, with 100% occupancy, zero defaults and a weighted average lease term of 16.8 years.

Capital Markets and Liquidity Starwood completed $2.1 billion of corporate debt transactions in the second quarter, including $1.1 billion of unsecured senior notes and a $275 million increase to its Term Loan B. It also repriced an existing $696 million term loan to SOFR plus 200 basis points.

After quarter-end, the company repaid $400 million of July 2026 notes and prepaid $500 million of January 2027 notes. DiModica said Starwood has no further corporate debt maturities until July 2027 and has extended weighted average corporate debt maturities to approximately three years.

The company had $1.2 billion of current liquidity at quarter-end and a debt-to-undepreciated-equity ratio of 2.74 times. Its unencumbered asset pool totaled $6.9 billion against $4.5 billion of unsecured debt.

Paniry said the early redemption of the January 2027 notes will produce a $6.3 million third-quarter loss on extinguishment of debt because of the termination of an associated interest-rate hedge. However, she said replacing the prior obligation with new 5.875% notes is expected to save more than $15 million over the next five years.

Dividend, Buybacks and Outlook Chairman and Chief Executive Officer Barry Sternlicht acknowledged that the company is not currently earning enough to cover its dividend, but said management remains confident that resolving underperforming assets and redeploying capital into new investments can restore earnings power.

“We’re pretty confident in our ability to get back to the earnings power that we’ll need to drive the dividend and restore our coverage of dividend,” Sternlicht said.

He said the company is not considering a dividend-policy change at present, though it would revisit that position if conditions materially changed. Starwood repurchased $30 million of stock year to date under its $400 million authorization, and management indicated it could become more active in repurchases.

Looking ahead, Sternlicht said Starwood plans to discuss a new business line during its next quarterly update and continues to evaluate acquisition and sector-consolidation opportunities.

About Starwood Property Trust (NYSE:STWD)Starwood Property Trust NYSE: STWD is a publicly traded real estate investment trust that specializes in originating, acquiring and managing commercial mortgage loans and other real estate-related investments. The company's portfolio spans a variety of asset classes, including senior mortgages, mezzanine debt, preferred equity and direct equity investments in commercial properties. By focusing on both debt and equity capital solutions, Starwood Property Trust seeks to generate attractive risk-adjusted returns for its shareholders through a combination of current income and capital appreciation.

Operating primarily in the United States, Starwood Property Trust deploys capital across a broad range of property types, such as multifamily residential, office, retail, hotel and industrial.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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2026-08-06 13:25 1mo ago
2026-08-06 07:00 1mo ago
Starwood Property Trust vykázal rekordní aktiva a zisk
STWD Starwood Property Trust
FMP Stock News 92
Original source text
– Quarterly GAAP Earnings of $0.01 and Distributable Earnings (DE) of $0.40 per Diluted Share –

– Invested $2.5 Billion in the Quarter and $6.7 Billion through July –

– Record Total Assets of $31.8 Billion and Commercial Lending Assets of $17.3 Billion – 

– Repurchased $30 Million of Common Shares in the Six Months –

–  Dividend of $0.48 per Share –

– Awarded Nareit Gold Investor CARE Award for 10th Time in 12 Years –

, /PRNewswire/ -- Starwood Property Trust, Inc. (NYSE: STWD) today announced operating results for the fiscal quarter ended June 30, 2026. The Company delivered second quarter GAAP net income of $6.6 million, and Distributable Earnings (a non-GAAP financial measure) was $151.5 million. See reconciliation tables below.

"Real estate fundamentals are improving steadily in almost every asset class, supported by a drop in construction and broad and robust economic growth. This provides a more constructive backdrop to deploy capital and improving credit in our loan portfolio. For us importantly, it provides a solid foundation to support the values of our real estate owned and underperforming loan assets. We expect to resolve nearly $900 million of underperforming assets by year end or shortly thereafter, returning the trapped equity to higher use cases across all our business lines," said Barry Sternlicht, Chairman and CEO of Starwood Property Trust.

"We have invested $6.7 billion through July, at double digit return on equity, and our $2.1 billion of corporate debt transactions in the quarter extends our weighted average corporate debt maturity to 3.7 years and lowers our cost of funds, solidifying an already strong balance sheet. This positions us well to continue deploying capital and driving growth across all our business lines," added Jeffrey DiModica, President of Starwood Property Trust.

Supplemental Schedules

The Company has published supplemental earnings schedules on its website in order to provide additional disclosure and financial information for the benefit of the Company's stakeholders.  Specifically, these materials can be found on the Company's website in the Investor Relations section under "Quarterly Results" at www.starwoodpropertytrust.com. 

Webcast and Conference Call Information 

The Company will host a live webcast and conference call on Thursday, August 6, 2026, at 10:00 a.m. Eastern Time. To listen to a live broadcast, access the site at least 15 minutes prior to the scheduled start time in order to register, download and install any necessary audio software. The webcast is available at www.starwoodpropertytrust.com in the Investor Relations section of the website. The Company encourages use of the webcast due to potential extended wait times to access the conference call via dial-in. 

To Participate via Telephone Conference Call:

Dial in at least 15 minutes prior to start time.
Domestic:  1-877-407-9039
International:  1-201-689-8470

Conference Call Playback:

Domestic:  1-844-512-2921
International:  1-412-317-6671
Passcode:  13758023

The playback can be accessed through August 20, 2026.

About Starwood Property Trust, Inc.

Starwood Property Trust (NYSE: STWD), an affiliate of global private investment firm Starwood Capital Group, is a leading diversified finance company with a core focus on the real estate and infrastructure sectors. As of June 30, 2026, the Company has successfully deployed $120 billion of capital since inception and manages a portfolio of $32 billion across debt and equity investments. Starwood Property Trust's investment objective is to generate attractive and stable returns for shareholders, primarily through dividends, by leveraging a premiere global organization to identify and execute on the best risk adjusted returning investments across its target assets. Additional information can be found at www.starwoodpropertytrust.com. 

Forward-Looking Statements

Statements in this press release which are not historical fact may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are developed by combining currently available information with our beliefs and assumptions and are generally identified by the words "believe," "expect," "anticipate" and other similar expressions.  Although Starwood Property Trust, Inc. believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, completion of pending investments and financings, continued ability to acquire additional investments, competition within the finance and real estate industries, availability of financing, and other risks detailed under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as well as other risks and uncertainties set forth from time to time in the Company's reports filed with the SEC, including its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026.

In light of these risks and uncertainties, there can be no assurances that the results referred to in the forward-looking statements contained herein will in fact occur. Except to the extent required by applicable law or regulation, we undertake no obligation to, and expressly disclaim any such obligation to, update or revise any forward-looking statements to reflect changed assumptions, the occurrence of anticipated or unanticipated events, changes to future results over time or otherwise.

Additional information can be found on the Company's website at www.starwoodpropertytrust.com. 

Contact:
Zachary Tanenbaum
Starwood Property Trust
Phone: 203-422-7788
Email: [email protected] 

Starwood Property Trust, Inc. and Subsidiaries
Condensed Consolidated Statement of Operations by Segment
For the three months ended June 30, 2026
(Amounts in thousands)

Commercial and

Residential

Lending

Segment

Infrastructure

Lending

Segment

Property

Segment

Investing

and Servicing

Segment

Corporate

Subtotal

Securitization

VIEs

Total

Revenues:

Interest income from loans

$               327,151

$       66,991

$       —

$       4,273

$        —

$  398,415

$           —

$ 398,415

Interest income from investment securities

15,344

481



22,170



37,995

(33,245)

4,750

Servicing fees

111





20,476



20,587

(3,920)

16,667

Rental income

19,808



63,827

4,219



87,854



87,854

Other revenues

1,800

1,474

362

1,524

822

5,982



5,982

Total revenues

364,214

68,946

64,189

52,662

822

550,833

(37,165)

513,668

Costs and expenses:

Management fees

165







30,392

30,557



30,557

Interest expense

160,750

38,625

28,775

9,117

107,564

344,831

(254)

344,577

General and administrative

14,979

6,015

7,925

23,661

4,114

56,694



56,694

Costs of rental operations

16,161



7,254

2,898



26,313



26,313

Depreciation and amortization

4,780

9

29,137

1,082

252

35,260



35,260

Credit loss provision, net

29,816

348







30,164



30,164

Other expense

88

787

227

101



1,203



1,203

Total costs and expenses

226,739

45,784

73,318

36,859

142,322

525,022

(254)

524,768

Other income (loss):

Change in net assets related to consolidated VIEs













33,087

33,087

Change in fair value of servicing rights







1,018



1,018

726

1,744

Change in fair value of investment securities, net

(1,587)





(1,717)



(3,304)

3,252

(52)

Change in fair value of mortgage loans, net

(12,711)





12,650



(61)



(61)

Income from affordable housing fund investments





4,929





4,929



4,929

Earnings from unconsolidated entities



2,677



193



2,870

(154)

2,716

Gain on sale of investments and other assets, net

88



27

2,264



2,379



2,379

Gain (loss) on derivative financial instruments, net

21,529

350

8,354

983

(34,240)

(3,024)



(3,024)

Foreign currency (loss) gain, net

(5,719)



13





(5,706)



(5,706)

Other (loss) income, net

(2,597)



(1,092)

6



(3,683)



(3,683)

Total other (loss) income

(997)

3,027

12,231

15,397

(34,240)

(4,582)

36,911

32,329

Income (loss) before income taxes

136,478

26,189

3,102

31,200

(175,740)

21,229



21,229

Income tax (provision) benefit

(2,536)

(95)

8

(3,601)



(6,224)



(6,224)

Net income (loss)

133,942

26,094

3,110

27,599

(175,740)

15,005



15,005

Net income attributable to non-controlling interests

(4)



(5,325)

(3,119)



(8,448)



(8,448)

Net income (loss) attributable to Starwood Property Trust, Inc.

$               133,938

$      26,094

$   (2,215)

$      24,480

$  (175,740)

$    6,557

$          —

$   6,557

Definition of Distributable Earnings

Distributable Earnings, a non-GAAP financial measure, is used to compute the Company's incentive fees to its external manager and is an appropriate supplemental disclosure for a mortgage REIT.  For the Company's purposes, Distributable Earnings is defined as GAAP net income (loss) excluding non-cash equity compensation expense, the incentive fee due to the Company's external manager, acquisition costs for successful acquisitions, depreciation and amortization of real estate and associated intangibles, any unrealized gains, losses or other non-cash items recorded in net income (loss) for the period and, to the extent deducted from net income (loss), distributions payable with respect to equity securities of subsidiaries issued in exchange for properties or interests therein.  The amount is adjusted to exclude one-time events pursuant to changes in GAAP and certain other non-cash adjustments as determined by the Company's external manager and approved by a majority of the Company's independent directors.  Refer to the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 for additional information regarding Distributable Earnings.

Reconciliation of Net Income to Distributable Earnings
For the three months ended June 30, 2026
(Amounts in thousands except per share data)

Commercial and

Residential

Lending

Segment

Infrastructure

Lending

Segment

Property

Segment

Investing

and Servicing

Segment

Corporate

Total

Net income (loss) attributable to Starwood Property Trust, Inc.

$           133,938

$            26,094

$           (2,215)

$            24,480

$          (175,740)

$             6,557

Add / (Deduct):

Non-controlling interests attributable to Woodstar II Class A Units





4,629





4,629

Non-controlling interests attributable to unrealized gains/losses





(2,724)

(2,226)



(4,950)

Non-cash equity compensation expense

2,585

788

2,014

1,449

6,477

13,313

Depreciation and amortization

4,817



29,632

1,121



35,570

Straight-line rent adjustment





(1,697)

57



(1,640)

Interest income adjustment for loans and securities

4,675





12,686



17,361

Consolidated income tax provision (benefit) associated with fair value adjustments

2,536

95

(8)

3,601



6,224

Other non-cash items

5

447

(82)

(407)



(37)

Reversal of GAAP unrealized and realized (gains) / losses on:

Loans

12,711





(12,650)



61

Credit loss provision, net

29,816

348







30,164

Securities

1,587





1,717



3,304

Woodstar Fund investments





(4,929)





(4,929)

Derivatives

(21,529)

(350)

(8,354)

(983)

34,240

3,024

Foreign currency

5,719



(13)





5,706

Earnings from unconsolidated entities



(2,677)



(193)



(2,870)

Sales of properties

(32)



(27)

(2,264)



(2,323)

Recognition of Distributable realized gains / (losses) on:

Loans

(454)





12,636



12,182

Securities

(51)





(682)



(733)

Woodstar Fund investments





18,208





18,208

Derivatives

8,570

248

(235)

1,650

(2,907)

7,326

Foreign currency

803



13





816

Earnings from unconsolidated entities



2,146



469



2,615

Sales of properties

32



(35)

1,928



1,925

Distributable Earnings (Loss)

$           185,728

$            27,139

$           34,177

$            42,389

$          (137,930)

$           151,503

Distributable Earnings (Loss) per Weighted Average Diluted Share

$              0.49

$              0.07

$             0.09

$              0.11

$             (0.36)

$              0.40

Starwood Property Trust, Inc. and Subsidiaries
Condensed Consolidated Statement of Operations by Segment
For the six months ended June 30, 2026
(Amounts in thousands)

Commercial and

Residential

Lending

Segment

Infrastructure

Lending

Segment

Property

Segment

Investing

and Servicing

Segment

Corporate

Subtotal

Securitization

VIEs

Total

Revenues:

Interest income from loans

$        637,465

$     128,429

$         —

$        6,332

$         —

$    772,226

$           —

$      772,226

Interest income from investment securities

30,981

865



46,103



77,949

(67,761)

10,188

Servicing fees

223





72,095



72,318

(7,631)

64,687

Rental income

36,113



124,670

7,042



167,825



167,825

Other revenues

4,013

2,947

819

1,927

1,492

11,198



11,198

Total revenues

708,795

132,241

125,489

133,499

1,492

1,101,516

(75,392)

1,026,124

Costs and expenses:

Management fees

197







66,542

66,739



66,739

Interest expense

315,673

75,321

56,726

15,943

210,218

673,881

(398)

673,483

General and administrative

31,771

11,933

16,793

45,589

8,941

115,027



115,027

Costs of rental operations

29,377



14,514

5,556



49,447



49,447

Depreciation and amortization

9,017

19

57,215

2,232

503

68,986



68,986

Credit loss provision (reversal), net

30,402

(615)







29,787



29,787

Other expense

165

899

299

241



1,604



1,604

Total costs and expenses

416,602

87,557

145,547

69,561

286,204

1,005,471

(398)

1,005,073

Other income (loss):

Change in net assets related to consolidated VIEs













65,589

65,589

Change in fair value of servicing rights







2,022



2,022

(815)

1,207

Change in fair value of investment securities, net

(1,136)





(9,638)



(10,774)

10,811

37

Change in fair value of mortgage loans, net

(33,691)





20,962



(12,729)



(12,729)

Income from affordable housing fund investments





17,393





17,393



17,393

Earnings from unconsolidated entities



3,520



605



4,125

(591)

3,534

Gain on sale of investments and other assets, net

298



496

2,264



3,058



3,058

Gain (loss) on derivative financial instruments, net

37,892

439

10,630

1,225

(55,673)

(5,487)



(5,487)

Foreign currency (loss) gain, net

(11,834)



38





(11,796)



(11,796)

Loss on extinguishment of debt



(31)

(304)





(335)



(335)

Other (loss) income, net

(5,472)

51

(1,401)

6



(6,816)



(6,816)

Total other (loss) income

(13,943)

3,979

26,852

17,446

(55,673)

(21,339)

74,994

53,655

Income (loss) before income taxes

278,250

48,663

6,794

81,384

(340,385)

74,706



74,706

Income tax benefit (provision)

9,192

(145)

25

(11,351)



(2,279)



(2,279)

Net income (loss)

287,442

48,518

6,819

70,033

(340,385)

72,427



72,427

Net income attributable to non-controlling interests

(7)



(12,152)

(1,833)



(13,992)



(13,992)

Net income (loss) attributable to Starwood Property Trust, Inc.

$       287,435

$      48,518

$     (5,333)

$       68,200

$   (340,385)

$     58,435

$          —

$       58,435

Reconciliation of Net Income to Distributable Earnings
For the six months ended June 30, 2026
(Amounts in thousands except per share data)

Commercial and

Residential

Lending

Segment

Infrastructure

Lending

Segment

Property

Segment

Investing

and Servicing

Segment

Corporate

Total

Net income (loss) attributable to Starwood Property Trust, Inc.

$     287,435

$      48,518

$       (5,333)

$      68,200

$    (340,385)

$      58,435

Add / (Deduct):

Non-controlling interests attributable to Woodstar II Class A Units





9,258





9,258

Non-controlling interests attributable to unrealized gains/losses





(4,031)

(6,971)



(11,002)

Non-cash equity compensation expense

5,669

1,540

4,009

2,874

13,215

27,307

Management incentive fee









5,567

5,567

Depreciation and amortization

9,090



58,206

2,313



69,609

Straight-line rent adjustment





(3,346)

171



(3,175)

Interest income adjustment for loans and securities

9,749





18,062



27,811

Consolidated income tax (benefit) provision associated with fair value adjustments

(9,192)

145

(25)

11,351



2,279

Other non-cash items

7

447

(164)

(813)



(523)

Reversal of GAAP unrealized and realized (gains) / losses on:

Loans

33,691





(20,962)



12,729

Credit loss provision (reversal), net

30,402

(615)







29,787

Securities

1,136





9,638



10,774

Woodstar Fund investments





(17,393)





(17,393)

Derivatives

(37,892)

(439)

(10,630)

(1,225)

55,673

5,487

Foreign currency

11,834



(38)





11,796

Earnings from unconsolidated entities



(3,520)



(605)



(4,125)

Sales of properties

(356)



(496)

(2,264)



(3,116)

Recognition of Distributable realized gains / (losses) on:

Loans

(822)





21,194



20,372

Securities

(137)





(5,936)



(6,073)

Woodstar Fund investments





37,029





37,029

Derivatives

21,205

279

(3,324)

1,926

(5,724)

14,362

Foreign currency

942



38





980

Earnings from unconsolidated entities



2,657



905



3,562

Sales of properties

(4,753)



(135)

1,928



(2,960)

Distributable Earnings (Loss)

$     358,008

$      49,012

$      63,625

$      99,786

$    (271,654)

$     298,777

Distributable Earnings (Loss) per Weighted Average Diluted Share

$         0.94

$         0.13

$         0.16

$         0.26

$        (0.71)

$         0.78

Starwood Property Trust, Inc. and Subsidiaries
Condensed Consolidated Balance Sheet by Segment
As of June 30, 2026
(Amounts in thousands)

Commercial and

Residential

Lending

Segment

Infrastructure

Lending

Segment

Property

Segment

Investing

and Servicing

Segment

Corporate

Subtotal

Securitization

VIEs

Total

Assets:

Cash and cash equivalents

$        22,616

$     206,331

$      30,912

$       9,281

$      98,452

$     367,592

$          —

$     367,592

Restricted cash

177,912

46,173

2,802

189

45,688

272,764



272,764

Loans held-for-investment, net

16,965,888

2,851,080







19,816,968



19,816,968

Loans held-for-sale

2,154,653





62,828



2,217,481



2,217,481

Investment securities

556,876

123,934



1,262,903



1,943,713

(1,540,884)

402,829

Properties, net

1,028,671



2,938,255

31,743



3,998,669



3,998,669

Investments of consolidated affordable housing fund





1,725,368





1,725,368



1,725,368

Investments in unconsolidated entities

8,514

61,517



33,200



103,231

(15,030)

88,201

Goodwill



119,409



140,437



259,846



259,846

Intangible assets, net

2,522



405,459

71,062



479,043

(38,069)

440,974

Derivative assets

23,233



931

242



24,406



24,406

Accrued interest receivable

195,044

3,611

4

493

1,664

200,816



200,816

Other assets

195,215

20,947

111,988

(16,670)

50,735

362,215



362,215

VIE assets, at fair value













30,868,147

30,868,147

Total Assets

$    21,331,144

$    3,433,002

$    5,215,719

$    1,595,708

$     196,539

$   31,772,112

$   29,274,164

$   61,046,276

Liabilities and Equity

Liabilities:

Accounts payable, accrued expenses and other liabilities

$       232,135

$      38,666

$     123,067

$      37,521

$     144,167

$     575,556

$          —

$     575,556

Related-party payable









27,033

27,033



27,033

Dividends payable









180,744

180,744



180,744

Derivative liabilities

64,972







26,601

91,573



91,573

Secured financing agreements, net

9,496,528

716,722

731,638

583,078

2,491,581

14,019,547

(19,656)

13,999,891

Securitized financing, net

1,603,874

1,810,038

1,397,599





4,811,511



4,811,511

Unsecured senior notes, net









4,882,722

4,882,722



4,882,722

VIE liabilities, at fair value













29,293,820

29,293,820

Total Liabilities

11,397,509

2,565,426

2,252,304

620,599

7,752,848

24,588,686

29,274,164

53,862,850

Temporary Equity: Redeemable non-controlling interests





356,377





356,377



356,377

Permanent Equity:

Starwood Property Trust, Inc. Stockholders' Equity:

Common stock









3,798

3,798



3,798

Additional paid-in capital

2,904,306

465,056

329,107

(974,433)

4,267,303

6,991,339



6,991,339

Treasury stock









(167,962)

(167,962)



(167,962)

Retained earnings (accumulated deficit)

7,019,517

402,520

2,072,106

1,827,396

(11,659,448)

(337,909)



(337,909)

Accumulated other comprehensive income

9,697









9,697



9,697

Total Starwood Property Trust, Inc. Stockholders' Equity

9,933,520

867,576

2,401,213

852,963

(7,556,309)

6,498,963



6,498,963

Non-controlling interests in consolidated subsidiaries

115



205,825

122,146



328,086



328,086

Total Permanent Equity

9,933,635

867,576

2,607,038

975,109

(7,556,309)

6,827,049



6,827,049

Total Liabilities and Equity

$    21,331,144

$    3,433,002

$    5,215,719

$    1,595,708

$     196,539

$   31,772,112

$   29,274,164

$   61,046,276

SOURCE Starwood Property Trust, Inc.
2026-06-25 14:53 2mo ago
2026-06-25 09:01 2mo ago
Starwood Property Trust nabízí dluhopisy za 500 milionů USD
STWD Starwood Property Trust
FMP Stock News 78
Original source text
, /PRNewswire/ -- Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced that, subject to market and other conditions, it is offering $500 million aggregate principal amount of its unsecured senior notes due 2029 (the "Notes") in a private offering.

The Company intends to allocate an amount equal to the net proceeds from the offering to finance or refinance, in whole or in part, recently completed or future eligible green and/or social projects. Net proceeds allocated to previously incurred costs associated with eligible green and/or social projects will be available for the repayment of indebtedness previously incurred. Pending full allocation of an amount equal to the net proceeds to eligible green and/or social projects, the Company intends to use the net proceeds, together with cash on hand, to fund its redemption of up to all of the Company's $500 million outstanding aggregate principal amount of 4.375% Senior Notes due 2027 or for general corporate purposes, including the repayment of outstanding indebtedness under the Company's repurchase facilities.

The Notes will be offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act. The Notes will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent an effective registration statement or an applicable exemption from the registration requirements of the Securities Act or any state securities laws.

This press release does not constitute a notice of redemption for the 4.375% Senior Notes due 2027. This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Starwood Property Trust, Inc.

Starwood Property Trust (NYSE: STWD), an affiliate of global private investment firm Starwood Capital Group, is a leading diversified finance company with a core focus on the real estate and infrastructure sectors. As of March 31, 2026, the Company has successfully deployed over $117 billion of capital since inception and manages a portfolio of over $31 billion across debt and equity investments. Starwood Property Trust's investment objective is to generate attractive and stable returns for shareholders, primarily through dividends, by leveraging a premiere global organization to identify and execute on the best risk adjusted returning investments across its target assets.

Forward-Looking Statements

Statements in this press release which are not historical fact may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, including statements with respect to the anticipated offering and the use of proceeds. Although the Company believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained.  Factors that could cause actual results to differ materially from the Company's expectations include: (i) factors described in the Company's Annual Report on Form 10-K for the year ended December 31, 2025 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, including those set forth under the captions "Risk Factors", "Business", and "Management's Discussion and Analysis of Financial Condition and Results of Operations"; (ii) defaults by borrowers in paying debt service on outstanding indebtedness; (iii) impairment in the value of real estate property securing the Company's loans or in which the Company invests; (iv) availability of mortgage origination and acquisition opportunities acceptable to the Company; (v) potential mismatches in the timing of asset repayments and the maturity of the associated financing agreements; (vi) national and local economic and business conditions, including as a result of the impact of public health emergencies; (vii) the occurrence of certain geo-political events (such as wars, terrorist attacks and tensions between states, including global trade disputes related to tariffs) that affect the normal and peaceful course of international relations; (viii) general and local commercial and residential real estate property conditions; (ix) changes in federal government policies; (x) changes in federal, state and local governmental laws and regulations; (xi) increased competition from entities engaged in mortgage lending and securities investing activities; (xii) changes in interest rates; and (xiii) the availability of, and costs associated with, sources of liquidity.

Contact:

Starwood Property Trust
Phone: 203-422-7788
Email: [email protected]

SOURCE Starwood Property Trust, Inc.