, /PRNewswire/ -- MAG Capital Partners today announced it has completed the sale of more than 1.37 million square feet of long-term, net-leased industrial assets primarily acquired through its MAGCP Industrial Fund II, LP, in a six-property, ~$89 million transaction with Fundamental Income Properties, a wholly-owned subsidiary of Starwood Property Trust (NYSE: STWD).
Dax T.S. Mitchell, principal and co-founder of MAG Capital Partners, said, "MAG Capital Partners continues to scale its various platforms, all focused on supporting U.S. manufacturers with growth capital needs through industrial real estate and corporate investment. This transaction is a testament to the strength and quality of the middle market, incredible operators, sponsors and the important role of manufacturing as a powerful American economic driver.
"The future is bright for net lease industrial," stated Mitchell.
The triple-net-lease portfolio consists of six industrial manufacturing properties across the Midwest. John Dehn and Eric Wood, senior vice presidents of MAG Capital Partners' Phoenix office, worked on the disposition for the seller.
"The opportunity to close this portfolio with Fundamental Income speaks to the quality of our underlying investments," remarked Wood. "We have known the founders for many years and look forward to working with the team again."
About MAG Capital Partners, LLC
Founded in 2015 by Dax T.S. Mitchell and Andrew Gi, Dallas-based MAG Capital Partners invests in net-leased industrial properties and small-mid-cap operating companies in the U.S. Headquartered at Old Parkland, the firm makes acquisitions through its industrial real estate funds, its multi-tenant industrial vehicle, SWORD Industrial Partners, and private equity platform, MAGCP Equity.
, /PRNewswire/ -- Starwood Property Trust (NYSE: STWD) today announced that the Company will release its second quarter 2026 financial results on Thursday, August 6, 2026, before the opening of trading on the New York Stock Exchange. A conference call will be held on Thursday, August 6, 2026, at 10:00 a.m. Eastern Time.
During the conference call, the Company's officers will review second quarter performance, discuss recent events and conduct a question-and-answer period.
Webcast
The conference call will also be available in the Investor Relations section of the Company's website at www.starwoodpropertytrust.com. To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download and install any necessary audio software. A replay of the call will also be available for 90 days on the Company's website.
To Participate in the Telephone Conference Call:
Dial in at least five 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 Thursday, August 20, 2026.
Full Text of the Earnings Release
Internet -- The full text of the earnings release will be available on Thursday, August 6, 2026, at the Company's web site, www.starwoodpropertytrust.com. Mail -- For those without Internet access, the second quarter earnings release will be available by mail or fax, on request. To receive a copy, please call the Company's Investor Relations line at 203-422-7788. 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. Additional information can be found at www.starwoodpropertytrust.com.
MIAMI, July 13, 2026 /PRNewswire/ -- Starwood Capital Group ("Starwood Capital"), a leading global private investment firm, today announced the promotion of Qahir Madhany to Head of Acquisitions, Americas, effective immediately. Mr. Madhany brings two decades of real estate investment experience, including deep expertise in advising on and managing complex transactions and special situations.
Starwood Property Trust trades at a 13% discount to undepreciated book value, offering an 11.6% dividend yield amid market overreaction to temporary earnings noise. Q1 distributable earnings of $0.39 were impacted by transient factors; adjusted DE would have nearly covered the $0.48 dividend, with operational progress aligning with management's guidance. STWD deployed $2.5 billion in Q1 and another $1.5 billion post-quarter, grew undepreciated assets to $31.7 billion, improved credit quality, and executed buybacks below book value.
The Dividend Harvesting Portfolio has grown to $39,685.82 from $27,900 invested, now generating $3,136.31 in forward annualized dividend income. I continue to prioritize rate-sensitive sectors, adding to NEOS MLP & Energy Infrastructure High Income ETF (MLPI) and Starwood Property Trust (STWD) for high yields and future growth. Dividend income growth remains robust, with 2026 income already at 62.53% of 2025's total after just 27 weeks, driven by reinvestment and sector diversification.
Successful fundraising in challenging environment demonstrates enthusiasm for firm's core focus on real assets globally, extensive team experience and expertise across asset classes and geographies
, /PRNewswire/ -- Starwood Capital Group ("Starwood Capital"), a leading global private investment firm, today announced the successful final closing of its latest opportunistic real estate fund, Starwood Distressed Opportunity Fund XIII ("SOF XIII"), with capital commitments in excess of $10.2 billion. Together with existing commitments to Starwood Capital's other investment vehicles, the firm's assets under management now total approximately $130 billion.
SOF XIII will continue to focus on real assets globally, with the flexibility to shift between asset classes, geographies and positions in the capital stack. SOF XIII will primarily target transactions across the United States and Europe, with selective opportunities in Asia Pacific, and a focus on a strategic mix of residential, data center, industrial and hospitality assets.
SOF XIII was supported by more than 300 new and existing investors across approximately 20 countries, demonstrating broad enthusiasm for Starwood Capital's future and its extensive investment capabilities. This diverse and sophisticated investor base includes pensions, sovereign wealth funds, foundations, endowments, wealth managers, family offices and high net worth investors. In addition, Starwood Capital Group and related parties have committed $100 million to SOF XIII.
"We are very grateful for our investors' continued strong support. This is a testament to the strength of our team and the trust our LPs place in us," said Barry Sternlicht, Chairman and CEO of Starwood Capital. "We are excited about the opportunities we have already sourced for this fund and are proud of our track record of delivering results for our investors through market cycles. With our scale, resources and breadth of talent, we are well-positioned to execute on opportunities in this compelling environment for real estate."
"We could not be more proud of our brand, our strategy and our team's capabilities, and of the results we have consistently delivered for our investors," said Jonathan Pollack, President of Starwood Capital. "With a growing team of more than 350 investment professionals and an expanding global footprint, we have the talent, scale and conviction to continue delivering great performance. We are seeing strong tailwinds driven by slowing supply in traditional real estate asset classes and tremendous growth in technology and manufacturing – this is an exciting time to be investing in real estate."
Starwood Capital has already closed or committed to 20 transactions to date in SOF XIII, committing more than $3 billion of equity. This initial portfolio highlights the firm's breadth and global footprint, with significant investments in housing, industrial and data centers in each of the United States, Europe and Asia.
About Starwood Capital Group
Starwood Capital Group is a private investment firm with a core focus on real assets globally. Since its inception in 1991, Starwood Capital Group has raised over $95 billion of capital and currently has ~$130 billion of assets under management. Through a series of comingled opportunity funds and Starwood Real Estate Income Trust, Inc. (SREIT), a non-listed REIT, the Firm has invested in virtually every category of real estate on a global basis, opportunistically shifting asset classes, geographies and positions in the capital stack as it perceives risk/reward dynamics to be evolving.
Starwood Capital also manages Starwood Property Trust (NYSE: STWD), the largest commercial mortgage real estate investment trust in the United States, which has successfully deployed over $117 billion of capital since inception and manages a portfolio of over $31 billion across debt and equity investments. Alongside Starwood Property Trust, Starwood Capital manages over $6 billion in several private debt funds investing across the globe.
Starwood Capital's other affiliates include: Highmark Residential, a property management company; Starwood Digital Ventures, a platform dedicated to the firm's data center investment strategy; Starwood Hotels, a hotel brand management team; Essex Title, a title agent for one or more underwriters in issuing title policies and/or providing support services; and Starwood Oil & Gas, which seeks to capitalize on conventional and unconventional North American assets.
Additional information can be found at www.starwoodcapital.com, www.starwoodnav.reit, www.starwoodpropertytrust.com and www.starwoodhotels.com.
Media Contacts:
Dana Gorman / Mallory Griffin
H/Advisors – U.S.
[email protected] / [email protected]
212.371.5999
, /PRNewswire/ -- Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced that it has priced its private offering of $500 million aggregate principal amount of its 5.875% unsecured senior notes due 2029 (the "Notes"). The Notes priced at 100.0% of the principal amount and the settlement of the offering is expected to occur on July 10, 2026, subject to customary closing conditions.
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 were 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 settlement of the 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.
, /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.
Starwood Property Trust is upgraded to "Strong Buy" due to its deep discount, 11.3% yield, and improving fundamentals. STWD's diversified $31.7 billion portfolio, strong liquidity, and improved risk ratings support its resilience and capital deployment into higher-spread opportunities. Q1 distributable EPS of $0.47 was impacted by temporary factors, with dividend coverage expected to improve as the net lease platform scales.
Starwood Property Trust (STWD) offers an 11.5% yield and trades below book value, creating a compelling income opportunity. STWD's diversified portfolio, limited office exposure, and recent net lease acquisition support distributable earnings and risk mitigation. Dividend coverage concerns are mitigated by management's clear path to improved earnings, asset resolutions, and capital deployment ramp.
Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- Starwood Property Trust, Inc. (NYSE: STWD) ("the Company") today announced that the Company's Board of Directors has declared a dividend of $0.48 per share of common stock for the quarter ending June 30, 2026. The dividend is payable on July 15, 2026 to stockholders of record as of June 30, 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 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. Additional information can be found at www.starwoodpropertytrust.com.
Ladder Capital stands out as the top commercial mREIT pick, offering a compelling blend of yield, growth, and conservative management. LADR's diversified model, investment-grade ratings, and founder-led management drive resilience, with a covered 9.1% yield and consensus 20% growth for 2027. Starwood Property Trust is positioned as a stable, high-yield income vehicle, maintaining an 11.3% yield and conservative leverage but limited dividend growth.
The iShares Mortgage Real Estate ETF (NYSEARCA:REM) gives income investors exposure to roughly two dozen mortgage REITs in a single ticker, smoothing out the cuts and surprises that routinely hit individual mREITs. With net assets of about $594 million and a 0.48% net expense ratio, REM has rallied 8% in the past month and 19% over the past year as the Fed eased policy.
How REM Actually Pays You REM owns the mortgage REITs that originate and hold the loans. The fund’s distributions are pass-throughs of dividends from underlying mortgage REITs that fund agency mortgage-backed securities, commercial real estate loans, and mortgage servicing rights. Income at the ETF level is only as durable as the weighted-average dividend stream from its holdings, so evaluate REM by stress-testing the names that move the needle.
The macro backdrop matters. The federal funds upper bound sits at 3.75%, down 0.75 points from a year ago, while the 10-year Treasury yields about 4.4% and the 10Y-2Y spread is positive at about 0.5%. Lower funding costs and a normal curve are tailwinds for net interest margin across mREITs.
Top Holdings and Dividend Coverage Holding Weight Quarterly Dividend Coverage Status Annaly Capital (NLY) 19.6% $0.70 Safe AGNC Investment 15.3% $0.12 monthly Adequate Starwood Property 10.1% $0.48 Tight Arbor Realty 4.9% $0.30 At risk Blackstone Mortgage 4.4% $0.47 Adequate Rithm Capital 4.4% $0.25 Stable Where the Income Is Safe Annaly Capital Management (NYSE:NLY | NLY Price Prediction) is the anchor. Q1 earnings available for distribution came in at $0.76 per share against the $0.70 dividend, the tenth consecutive quarter of positive economic returns, and CEO David Finkelstein called Agency MBS technicals “among the most supportive in years.”. NLY raised its payout from $0.65 to $0.70 in Q1 2025 and shares are up 34% year-over-year.
AGNC Investment (NASDAQ:AGNC) has held its $0.12 monthly dividend since January 2020. Q1 net spread and dollar roll income of $0.42 per share covers the $0.36 quarterly payout, although tangible book value slipped about 6% to $8.38, a reminder that book erosion is the soft underbelly of agency mREITs.
Where the Risk Lives Arbor Realty Trust is the obvious weak link. Management cut the dividend from $0.43 to $0.30 in May 2025, and Q4 distributable EPS of $0.19 no longer covers even the reduced payout. Twenty-six non-performing loans with $569 million in unpaid principal and a $68.9 million charge-off on a legacy loan tell the story. Another cut would not surprise.
Blackstone Mortgage Trust already cut from $0.62 to $0.47 in mid-2024. Q1 2026 distributable EPS of $0.49 covers the $0.47 dividend, but CECL reserves rose $55 million and 19% office exposure remains. Starwood Property Trust ran 0.9x dividend coverage for full-year 2025 after the dilutive Fundamental net lease acquisition, but Sternlicht has held the $0.48 quarterly payout for over a decade and announced a $400 million buyback.
The Diversification Verdict Rithm Capital rounds out the top tier with a $0.25 quarterly dividend held since Q1 2021 and a diversified origination, servicing, and asset management platform. Arbor’s cut and Blackstone Mortgage’s CECL pressure are real, but together account for under 10% of the fund, while NLY and AGNC, comprising roughly 35% combined, sit in the sweet spot of declining SOFR funding costs and supportive agency MBS spreads.
REM’s distribution is a weighted average, and the math currently favors the income side. The aggregate dividend is durable so long as the agency book stays healthy. Investors comfortable with mREIT book value volatility and concentrated rate sensitivity get a sensibly diversified income vehicle. Those who need stable principal should look elsewhere: REM’s five-year price return is still negative 3%, even after this year’s rally.
After reaching an important support level, Starwood Property Trust (STWD - Free Report) could be a good stock pick from a technical perspective. STWD surpassed resistance at the 20-day moving average, suggesting a short-term bullish trend.
A well-liked tool among traders, the 20-day simple moving average offers a look back at a stock's price over a 20-day period. This is very beneficial to short-term traders, as it smooths out short-term price trends and gives more trend reversal signals than longer-term moving averages.
Like other SMAs, if a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
STWD has rallied 5.8% over the past four weeks, and the company is a Zacks Rank #2 (Buy) at the moment. This combination suggests STWD could be on the verge of another move higher.
The bullish case only gets stronger once investors take into account STWD's positive earnings estimate revisions. There have been 1 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.
With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on STWD for more gains in the near future.
Quarterly financial reports play a vital role on Wall Street, as they help investors see how a company has performed and what might be coming down the road in the near-term. And out of all of the metrics and results to consider, earnings is one of the most important.
We know earnings results are vital, but how a company performs compared to bottom line expectations can be even more important when it comes to stock prices, especially in the near-term. This means that investors might want to take advantage of these earnings surprises.
Hunting for 'earnings whispers' or companies poised to beat their quarterly earnings estimates is a somewhat common practice. But that doesn't make it easy. One way that has been proven to work is by using the Zacks Earnings ESP tool.
The Zacks Earnings ESP, ExplainedThe Zacks Earnings ESP, or Expected Surprise Prediction, aims to find earnings surprises by focusing on the most recent analyst revisions. The basic premise is that if an analyst reevaluates their earnings estimate ahead of an earnings release, it means they likely have new information that could possibly be more accurate.
The core of the ESP model is comparing the Most Accurate Estimate to the Zacks Consensus Estimate, where the resulting percentage difference between the two equals the Expected Surprise Prediction. The Zacks Rank is also factored into the ESP metric to better help find companies that appear poised to top their next bottom-line consensus estimate, which will hopefully help lift the stock price.
In fact, when we combined a Zacks Rank #3 (Hold) or better and a positive Earnings ESP, stocks produced a positive surprise 70% of the time. Perhaps most importantly, using these parameters has helped produce 28.3% annual returns on average, according to our 10 year backtest.
Stocks with a ranking of #3 (Hold), or 60% of all stocks covered by the Zacks Rank, are expected to perform in-line with the broader market. Stocks with rankings of #2 (Buy) and #1 (Strong Buy), or the top 15% and top 5% of stocks, respectively, should outperform the market; Strong Buy stocks should outperform more than any other rank.
Should You Consider Starwood Property Trust?The final step today is to look at a stock that meets our ESP qualifications. Starwood Property Trust (STWD - Free Report) earns a #2 (Buy) one day from its next quarterly earnings release on May 8, 2026, and its Most Accurate Estimate comes in at $0.43 a share.
By taking the percentage difference between the $0.43 Most Accurate Estimate and the $0.42 Zacks Consensus Estimate, Starwood Property Trust has an Earnings ESP of +1.58%. Investors should also know that STWD is one of a large group of stocks with positive ESPs. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
STWD is one of just a large database of Finance stocks with positive ESPs. Another solid-looking stock is Travelers (TRV - Free Report) .
Travelers is a Zacks Rank #3 (Hold) stock, and is getting ready to report earnings on July 16, 2026. TRV's Most Accurate Estimate sits at $4.87 a share 70 days from its next earnings release.
For Travelers, the percentage difference between its Most Accurate Estimate and its Zacks Consensus Estimate of $4.85 is +0.37%.
Because both stocks hold a positive Earnings ESP, STWD and TRV could potentially post earnings beats in their next reports.
Find Stocks to Buy or Sell Before They're ReportedUse the Zacks Earnings ESP Filter to turn up stocks with the highest probability of positively, or negatively, surprising to buy or sell before they're reported for profitable earnings season trading. Check it out here >>
– Quarterly GAAP Earnings of $0.13 and Distributable Earnings (DE) of $0.39 per Diluted Share –
– Invested $2.5 Billion in the Quarter and $1.5 Billion After Quarter End –
– Dividend of $0.48 per Share for Over a Decade –
– Awarded 2025 Mortgage REIT of the Year by PERE Credit –
, /PRNewswire/ -- Starwood Property Trust, Inc. (NYSE: STWD) today announced operating results for the fiscal quarter ended March 31, 2026. The Company delivered first quarter GAAP net income of $51.9 million, and Distributable Earnings (a non-GAAP financial measure) was $147.3 million.
"In a period of broad global volatility, we believe real estate and infrastructure credit is an attractive and relatively stable place to invest capital," said Barry Sternlicht, Chairman and CEO of Starwood Property Trust. "To that point, we remain active with $4.0 billion invested across our diversified portfolio year to date. As we move through 2026, we are focused on growing our earnings through disciplined origination, continued balance sheet optimization, and the best returning resolution of what we refer to as legacy assets."
"Starwood Property Trust's access to capital across multiple markets remains a defining advantage of our platform," added Jeffrey DiModica, President of Starwood Property Trust. "During the quarter, we completed our seventh infrastructure CLO at a record tight credit spread, refinanced an existing ABS transaction at meaningfully lower cost, and, subsequent to quarter-end, closed a new net lease warehouse facility at attractive terms. Our proven ability to optimize the right side of our balance sheet has allowed us to continuously invest across cylinders regardless of market environment."
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 Friday, May 8, 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
The playback can be accessed through May 22, 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 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. 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 March 31, 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.
Starwood Property Trust, Inc. and Subsidiaries
Condensed Consolidated Statement of Operations by Segment
For the three months ended March 31, 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
$ 310,314
$ 61,438
$ —
$ 2,059
$ —
$ 373,811
$ —
$ 373,811
Interest income from investment securities
15,637
384
—
23,933
—
39,954
(34,516)
5,438
Servicing fees
112
—
—
51,619
—
51,731
(3,711)
48,020
Rental income
16,305
—
60,843
2,823
—
79,971
—
79,971
Other revenues
2,213
1,473
457
403
670
5,216
—
5,216
Total revenues
344,581
63,295
61,300
80,837
670
550,683
(38,227)
512,456
Costs and expenses:
Management fees
32
—
—
—
36,150
36,182
—
36,182
Interest expense
154,923
36,696
27,951
6,826
102,654
329,050
(144)
328,906
General and administrative
16,792
5,918
8,868
21,928
4,827
58,333
—
58,333
Costs of rental operations
13,216
—
7,260
2,658
—
23,134
—
23,134
Depreciation and amortization
4,237
10
28,078
1,150
251
33,726
—
33,726
Credit loss provision (reversal), net
586
(963)
—
—
—
(377)
—
(377)
Other expense
77
112
72
140
—
401
—
401
Total costs and expenses
189,863
41,773
72,229
32,702
143,882
480,449
(144)
480,305
Other income (loss):
Change in net assets related to consolidated VIEs
—
—
—
—
—
—
32,502
32,502
Change in fair value of servicing rights
—
—
—
1,004
—
1,004
(1,541)
(537)
Change in fair value of investment securities, net
451
—
—
(7,921)
—
(7,470)
7,559
89
Change in fair value of mortgage loans, net
(20,980)
—
—
8,312
—
(12,668)
—
(12,668)
Income from affordable housing fund investments
—
—
12,464
—
—
12,464
—
12,464
Earnings (loss) from unconsolidated entities
—
843
—
412
—
1,255
(437)
818
Gain on sale of investments and other assets, net
210
—
469
—
—
679
—
679
Gain (loss) on derivative financial instruments, net
16,363
89
2,276
242
(21,433)
(2,463)
—
(2,463)
Foreign currency (loss) gain, net
(6,115)
—
25
—
—
(6,090)
—
(6,090)
Loss on extinguishment of debt
—
(31)
(304)
—
—
(335)
—
(335)
Other (loss) income, net
(2,875)
51
(309)
—
—
(3,133)
—
(3,133)
Total other income (loss)
(12,946)
952
14,621
2,049
(21,433)
(16,757)
38,083
21,326
Income (loss) before income taxes
141,772
22,474
3,692
50,184
(164,645)
53,477
—
53,477
Income tax benefit (provision)
11,728
(50)
17
(7,750)
—
3,945
—
3,945
Net income (loss)
153,500
22,424
3,709
42,434
(164,645)
57,422
—
57,422
Net (income) loss attributable to non-controlling interests
(3)
—
(6,827)
1,286
—
(5,544)
—
(5,544)
Net income (loss) attributable to Starwood Property Trust, Inc.
$ 153,497
$ 22,424
$ (3,118)
$ 43,720
$ (164,645)
$ 51,878
$ —
$ 51,878
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 March 31, 2026 for additional information regarding Distributable Earnings.
Reconciliation of Net Income to Distributable Earnings
For the three months ended March 31, 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.
$ 153,497
$ 22,424
$ (3,118)
$ 43,720
$ (164,645)
$ 51,878
Add / (Deduct):
Non-controlling interests attributable to Woodstar II Class A Units
—
—
4,629
—
—
4,629
Non-controlling interests attributable to unrealized gains/losses
—
—
(1,307)
(4,745)
—
(6,052)
Non-cash equity compensation expense
3,084
752
1,995
1,425
6,738
13,994
Management incentive fee
—
—
—
—
5,567
5,567
Depreciation and amortization
4,273
—
28,574
1,192
—
34,039
Straight-line rent adjustment
—
—
(1,649)
114
—
(1,535)
Interest income adjustment for loans and securities
5,074
—
—
5,376
—
10,450
Consolidated income tax (benefit) provision associated with fair value adjustments
(11,728)
50
(17)
7,750
—
(3,945)
Other non-cash items
2
—
(82)
(406)
—
(486)
Reversal of GAAP unrealized and realized (gains) / losses on:
Loans
20,980
—
—
(8,312)
—
12,668
Credit loss provision (reversal), net
586
(963)
—
—
—
(377)
Securities
(451)
—
—
7,921
—
7,470
Woodstar Fund investments
—
—
(12,464)
—
—
(12,464)
Derivatives
(16,363)
(89)
(2,276)
(242)
21,433
2,463
Foreign currency
6,115
—
(25)
—
—
6,090
Earnings from unconsolidated entities
—
(843)
—
(412)
—
(1,255)
Sales of properties
(324)
—
(469)
—
—
(793)
Recognition of Distributable realized gains / (losses) on:
Loans
(368)
—
—
8,558
—
8,190
Securities
(86)
—
—
(5,254)
—
(5,340)
Woodstar Fund investments
—
—
18,821
—
—
18,821
Derivatives
12,635
31
(3,089)
276
(2,817)
7,036
Foreign currency
139
—
25
—
—
164
Earnings from unconsolidated entities
—
511
—
436
—
947
Sales of properties
(4,785)
—
(100)
—
—
(4,885)
Distributable Earnings (Loss)
$ 172,280
$ 21,873
$ 29,448
$ 57,397
$ (133,724)
$ 147,274
Distributable Earnings (Loss) per Weighted Average Diluted Share
$ 0.45
$ 0.06
$ 0.08
$ 0.15
$ (0.35)
$ 0.39
Starwood Property Trust, Inc. and Subsidiaries
Condensed Consolidated Balance Sheet by Segment
As of March 31, 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
$ 44,239
$ 125,331
$ 33,521
$ 6,001
$ 81,193
$ 290,285
$ —
$ 290,285
Restricted cash
322,650
22,909
3,085
412
26,721
375,777
—
375,777
Loans held-for-investment, net
16,214,754
3,066,806
—
—
—
19,281,560
—
19,281,560
Loans held-for-sale
2,218,429
—
—
104,511
—
2,322,940
—
2,322,940
Investment securities
639,401
30,301
—
1,236,128
—
1,905,830
(1,597,627)
308,203
Properties, net
1,039,257
—
2,778,893
40,984
—
3,859,134
—
3,859,134
Investments of consolidated affordable housing fund
—
—
1,729,433
—
—
1,729,433
—
1,729,433
Investments in unconsolidated entities
8,514
58,840
—
33,316
—
100,670
(15,112)
85,558
Goodwill
—
119,409
—
140,437
—
259,846
—
259,846
Intangible assets, net
2,670
—
392,643
70,136
—
465,449
(38,794)
426,655
Derivative assets
24,074
—
—
219
7,958
32,251
—
32,251
Accrued interest receivable
168,183
8,160
—
218
847
177,408
—
177,408
Other assets
329,455
42,273
131,023
(15,547)
51,262
538,466
—
538,466
VIE assets, at fair value
—
—
—
—
—
—
32,399,812
32,399,812
Total Assets
$ 21,011,626
$ 3,474,029
$ 5,068,598
$ 1,616,815
$ 167,981
$ 31,339,049
$ 30,748,279
$ 62,087,328
Liabilities and Equity
Liabilities:
Accounts payable, accrued expenses and other liabilities
Starwood Property Trust (STWD - Free Report) came out with quarterly earnings of $0.39 per share, missing the Zacks Consensus Estimate of $0.42 per share. This compares to earnings of $0.45 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -7.87%. A quarter ago, it was expected that this commercial real estate investment trust would post earnings of $0.41 per share when it actually produced earnings of $0.42, delivering a surprise of +2.44%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Starwood Property Trust, which belongs to the Zacks REIT and Equity Trust industry, posted revenues of $512.46 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 6.63%. This compares to year-ago revenues of $418.18 million. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Starwood Property Trust shares have added about 0.2% since the beginning of the year versus the S&P 500's gain of 7.2%.
What's Next for Starwood Property Trust?While Starwood Property Trust has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Starwood Property Trust was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.44 on $497.4 million in revenues for the coming quarter and $1.80 on $2.02 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, REIT and Equity Trust is currently in the bottom 32% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the broader Zacks Finance sector, XP Inc.A (XP - Free Report) , is yet to report results for the quarter ended March 2026.
This company is expected to post quarterly earnings of $0.48 per share in its upcoming report, which represents a year-over-year change of +23.1%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
XP Inc.A's revenues are expected to be $952.6 million, up 28.6% from the year-ago quarter.
, /PRNewswire/ -- Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced that, subject to market and other conditions, it is offering $600 million aggregate principal amount of its unsecured senior notes due 2031 (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 to redeem or repay the Company's $400 million outstanding aggregate principal amount of 3.625% Senior Notes due 2026 and 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 3.625% Senior Notes due 2026. 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.
Key Takeaways STWD shares fell about 1.7% after Q1 2026 distributable EPS of 39 cents missed the estimate of 42 cents.STWD revenue rose 22.5% year over year and topped estimates, but expenses climbed 25%.STWD reported BVPS down 4.7% and net income fell 53.7%, while fundings rose to $2.3B. Shares of Starwood Property Trust, Inc. (STWD - Free Report) lost nearly 1.7% in Friday’s trading session on lower-than-expected quarterly results. The company reported first-quarter 2026 distributable earnings of 39 cents per share, which missed the Zacks Consensus Estimate of 42 cents. The reported figure also compares unfavorably with 45 cents per share in the year-ago quarter.
Results were primarily affected by a decrease in book value per share (BVPS) and an increase in expenses. Nevertheless, a year-over-year rise in revenues supported the results to some extent.
The company’s first-quarter 2026 net income (GAAP basis) was $51.9 million, which declined 53.7% year over year.
Inside Starwood Property’s HeadlinesSTWD’s total revenues were $512.4 million, up 22.5% year over year. Also, the top line surpassed the Zacks Consensus Estimate by 6.6%.
Total costs and expenses were $480.3 million, up 25% from the prior-year quarter. The increase was primarily driven by higher interest expense, general and administrative costs, rental operations costs and depreciation and amortization.
Starwood Property’s BVPS (GAAP basis) was $17.98 as of March 31, 2026, down 4.7% from $18.87 in the prior-year quarter.
The company recorded fundings of $2.3 billion, which increased from $2 billion in the prior-year quarter.
Starwood Property’s Balance Sheet PositionAs of March 31, 2026, cash and cash equivalents were $290.3 million, down 41.9% from the prior quarter.
Loans held for sale totaled $2.3 billion, reflecting a marginal decline from the prior quarter.
Our Take on STWDStarwood Property’s focus on commercial mortgage-backed securities and commercial real estate debt investments continues to provide stable income streams. Its ongoing efforts in property acquisitions and divestitures should support portfolio diversification and long-term resilience. However, the decline in BVPS, despite higher revenues, indicates near-term pressure on profitability.
STARWOOD PROPERTY TRUST, INC. Price, Consensus and EPS SurpriseSTWD currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other REITsAnnaly Capital Management, Inc. (NLY - Free Report) reported first-quarter 2026 earnings available for distribution per average share of 76 cents, which beat the Zacks Consensus Estimate of 74 cents. The figure increased from 72 cents in the year-ago quarter.
NLY’s net interest income and net interest margin improved year over year in the reported quarter. Notably, the year-over-year increase in book value per common share was also encouraging. However, a lower economic capital ratio was concerning.
AGNC Investment Corp. (AGNC - Free Report) reported first-quarter of 2026 net spread and dollar roll income per common share of 42 cents, topping the Zacks Consensus Estimate by 16.7%. However, the metric declined 4.5% from the year-ago quarter’s 44 cents.
AGNC’s results benefited from rallies in average asset yield and NII. Also, a rise in tangible net book value per common share in the portfolio was positive. However, a reduced net interest spread and a higher weighted average cost of funds were concerning.
Starwood Property Trust, Inc. remains the premier mortgage REIT, evolving through diversification into owned property and infrastructure lending. STWD's Q1 saw top-line growth over $500M (+20% YoY), but distributable earnings fell short at $0.39/share due to integration and nonrecurring costs. Management maintains the $0.48 quarterly dividend, underpinned by strong liquidity, despite short-term earnings dilution from the Fundamental Net Lease acquisition.
, /PRNewswire/ -- Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced that it has priced its private offering of $600 million aggregate principal amount of its 6.125% unsecured senior notes due 2031 (the "Notes"). The Notes priced at 100.0% of the principal amount and the settlement of the offering is expected to occur on May 26, 2026, subject to customary closing conditions.
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 to redeem or repay the Company's $400 million outstanding aggregate principal amount of 3.625% Senior Notes due 2026 and for general corporate purposes, including the repayment of outstanding indebtedness under the Company's repurchase facilities.
The Notes were 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 3.625% Senior Notes due 2026. 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 settlement of the 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.
The Dividend Harvesting Portfolio has reached $2,994.54 in forward dividend income and is expected to generate over $3,000 in raw income for 2026. I maintain strict risk controls, capping positions at 5% and sectors at 20%, while focusing on high-quality assets regardless of market conditions. This week I added another new position in Salesforce while adding to Starwood Property Trust.
Starwood Property Trust, Inc. continues to under-earn its dividend, with coverage dropping to 81% in Q1'26, raising concerns about dividend sustainability. Despite strong new loan originations, especially in commercial and infrastructure lending, STWD's earnings appear insufficient to support its $0.48 per-share quarterly dividend. STWD now exhibits the weakest dividend coverage trajectory among major CRE finance REIT peers, with three of the last four quarters showing worsening coverage.
MarketBeat Week in Review – 03/30 - 04/03Starwood Property Trust NYSE: STWD reported first-quarter 2026 distributable earnings of $147 million, or $0.39 per share, as management said results were weighed down by elevated cash balances, non-performing asset resolutions and the ramp-up of its newly acquired net lease platform.
Chief Financial Officer Rina Paniry said distributable earnings would have been $0.47 per share after adjusting for those items. She said the company is continuing to grow its investment base, resolve non-performing assets and optimize the net lease business, adding that its “underlying earnings power continues to build.”
Get STWD alerts:
Starwood Shares Have Struggled, but Catalysts Could Signal a TurnThe company deployed $2.5 billion of capital during the quarter, including $1.5 billion in commercial lending, $597 million in infrastructure lending and $128 million in net lease investments. Total undepreciated assets reached a record $31.7 billion at quarter-end. Paniry said Starwood deployed another $1.5 billion after quarter-end, with 70% of that amount in commercial lending.
Commercial Lending Portfolio Grows as Credit Work Continues Commercial and residential lending contributed $172 million of distributable earnings, or $0.45 per share. In commercial lending, Starwood funded $894 million of $1.5 billion in loan originations and another $278 million of existing loan commitments. After $835 million of repayments, the funded loan portfolio grew to $16.7 billion.
Here's Who Wins If Trump's 50-Year Mortgages Come to MarketPaniry said the portfolio does not include $1 billion of new originations after quarter-end, which she said brings the loan portfolio to its highest level since inception, nor $2.3 billion of unfunded commitments on existing loans.
The company also continued to work through non-performing assets. During the quarter, Starwood sold a multifamily asset in Conyers, Georgia, that it had foreclosed on in February 2025. Paniry said Starwood repositioned the property during its one-year hold period, reducing delinquency from 16% to 8% and increasing occupancy from 86% to 91%. The sale resulted in a $5 million distributable earnings loss and a small GAAP gain.
Starwood also foreclosed on three 5-rated non-accrual loans: a $248 million mixed-use property in Dallas, a $71 million multifamily property in Phoenix and a $28 million multifamily property in Dallas. Paniry said independent appraisals showed the mixed-use asset, which represented two-thirds of the quarter’s foreclosures, appraised 10% above Starwood’s basis.
The weighted average risk rating on the loan portfolio improved to 2.9 from 3.0. Paniry said Starwood ended the quarter with $676 million of reserves, including $455 million in CECL reserves and $221 million in REO reserves, equal to $1.82 per share of book value.
President Jeff DiModica said Starwood has now resolved more than $300 million of assets that had been a drag on earnings and expects further reductions this year and in 2027. In response to a question from KBW analyst Jason Sabshon, DiModica said the company’s plans contemplate roughly $900 million of resolutions by the end of 2026 and another $500 million in 2027, though he cautioned that timing depends on leases, sales and other asset-level outcomes.
Infrastructure Lending and Servicing Provide Earnings Support Infrastructure lending contributed $22 million, or $0.06 per share, of distributable earnings. Starwood committed $597 million to new infrastructure loans during the quarter, of which $567 million was funded. After $320 million of repayments, the portfolio increased to a record $3.2 billion.
Paniry said nearly 70% of the quarter’s infrastructure commitments were self-originated, bringing total self-origination volume to $950 million. Starwood also completed its seventh actively managed infrastructure CLO, a $600 million transaction at a spread of SOFR plus 168 basis points. CLOs now represent 75% of infrastructure debt, which Paniry described as durable, non-recourse and non-mark-to-market financing.
The investing and servicing segment contributed $57 million, or $0.15 per share, of distributable earnings. Paniry said special servicer LNR generated $52 million of servicing fees in the quarter, with an active servicing portfolio of $9.9 billion and a named servicing portfolio of $95 billion.
DiModica said the servicing platform continues to serve as a “positive carry credit hedge,” generating higher earnings during periods of stress.
Net Lease Platform Remains Dilutive During Ramp-Up Starwood’s property segment generated $29 million, or $0.08 per share, of distributable earnings across its major portfolios. In net lease, Paniry said the business remains in its ramp-up phase following its acquisition eight months earlier and was dilutive as expected. She said that if the platform were optimized and at scale, it would have contributed an additional $0.03 of distributable earnings in the quarter.
Net lease acquisitions totaled $128 million in the quarter, with a weighted average lease term of 19.5 years and weighted average rent escalations of 2.5%. The portfolio totaled $2.5 billion at quarter-end, with a weighted average remaining lease term of 17.4 years and no defaults.
Starwood completed two notable financings tied to the net lease business. Paniry said a new $466 million ABS transaction at a weighted average fixed rate of 5.06% replaced $324 million of higher-cost ABS financing that carried a 6.65% weighted average fixed rate. After quarter-end, the company also closed a new five-year, $1 billion warehouse facility with a 40% lower spread and nearly twice the size of the financing assumed at acquisition.
DiModica said the company expects the net lease platform to become accretive in 2027, consistent with its underwriting. Chairman and Chief Executive Officer Barry Sternlicht said the platform has value but added that the current dilution is “not acceptable” if it does not improve, saying Starwood would consider alternatives if needed.
Management Points to Market Volatility, Dividend Coverage Path DiModica said capital markets have been volatile early in the year, driven largely by geopolitical developments in the Middle East, but described the overall environment as “relatively stable.” He said refinancing volumes are elevated and that the backdrop is constructive for legacy investments and new originations.
Management emphasized Starwood’s diversified structure, with commercial lending representing 52% of the investment base and owned property increasing to 25%. Paniry said, “We are really not a typical mortgage REIT.”
In response to Raymond James analyst Gabe Poggi, who asked about the timeline for reaching the $0.48 level referenced for dividend coverage, Paniry said Starwood is there on a recurring basis today but not on a reported basis. She said Fundamental Income, the net lease platform, is expected to break even around early 2027 and become accretive thereafter, with recurring earnings potentially exceeding the dividend later next year.
DiModica said management has consistently pointed to late 2026 into 2027 for that improvement, citing deployment of cash, further originations and reductions in non-accrual assets. Sternlicht said he was more optimistic, pointing to potential asset resolutions and the possibility of selling assets to redeploy capital at higher returns.
Starwood ended the quarter with $1 billion of liquidity and $9.4 billion of availability across bank financing lines. The company’s debt-to-undepreciated equity ratio was 2.59 times. Paniry also said the board authorized a $400 million share repurchase program on Feb. 26, and Starwood bought 1.1 million shares in March for $20 million at a weighted average price of $17.67.
About Starwood Property Trust NYSE: STWDStarwood 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].
Should You Invest $1,000 in Starwood Property Trust Right Now?Before you consider Starwood Property Trust, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Starwood Property Trust wasn't on the list.
While Starwood Property Trust currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Click the link to learn more about using beta to protect your portfolio.
The Dividend Harvesting Portfolio surpassed $3,000 in forward dividend income, achieving a 7.82% yield and 41.58% return on invested capital. I am capitalizing on rate-sensitive opportunities, notably adding to Starwood Property Trust (STWD) at an 11.27% yield amid market overreaction to rate hike fears. Portfolio discipline remains: no position exceeds 5% or sector 20%, with a focus on diversifying beyond ETFs and REITs toward individual equities and energy.
Passive income is characterized by its ability to generate revenue without requiring the earner’s continuous active effort, making it a desirable financial strategy for those seeking to diversify their income streams or achieve financial independence. The more passive income can help cover rising costs such as mortgages, insurance, taxes, and other expenses, the easier it is for investors to set aside money for future needs as they prepare for retirement. Dependable, recurring dividends from quality ultra-high-yield stocks are a recipe for success. For investors with a higher risk tolerance who are seeking over $12,000 in passive income per year, the five stocks in our $100,000 ultra-high-yield portfolio can deliver the goods. Plus, all have Buy ratings from the top Wall Street firms we cover at 24/7 Wall St.
We screened our 24/7 Wall St. ultra-high-yield dividend stock list, looking for companies that pay massive, double-digit, ultra-high-yield dividends, offering risk-tolerant investors stability and dependability. Investing $20,000 in each of the five will generate over $12,000 in passive income every year—$12,203 to be exact. Share purchase amounts, dividends, and income paid are as of the time of this writing.
Why do we cover ultra-high-yield dividend stocks?
While they are not suited for everybody, those trying to build strong passive income streams can do exceptionally well with these five top companies in their portfolios. Paired with more conservative blue-chip dividend giants, investors can use a barbell approach to generate substantial passive income.
AGNC Investment AGNC Investment (NASDAQ: AGNC | AGNC Price Prediction) provides private capital to the U.S. housing market. The company has paid solid monthly dividends for years. It is currently yielding 14%, providing private capital to the U.S. housing market, enhancing liquidity in the residential real estate mortgage markets, and, in turn, facilitating home ownership.
The company invests primarily in agency residential mortgage-backed securities (RMBS) on a leveraged basis. These investments consist of residential mortgage pass-through securities and collateralized mortgage obligations for which a U.S. government-sponsored enterprise guarantees the principal and interest payments.
AGNC buys debt from the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). Together, Fannie Mae and Freddie Mac are known as the GSEs, or government-sponsored enterprises. Alternatively, AGNC may purchase debt from a U.S. government agency, such as the Government National Mortgage Association (Ginnie Mae).
$20,000 will buy 1,900 shares, which pay $1.44 per year. That equals $2,735, and those dividends are paid monthly.
Wells Fargo has an Overweight rating with a $12 target price.
Ares Capital The company specializes in providing financing solutions for the middle market and appears poised to reach new highs, garnering a Buy rating from 7 analysts and yielding a 10.20% dividend yield. Ares Capital (NASDAQ: ARCC) is a high-yielding business development company (BDC) specializing in acquisitions, recapitalizations, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions for middle-market companies.
As America’s largest BDC, Ares Capital leverages a massive capital base to maintain a diversified portfolio of over 400 companies, with no single investment exceeding 3%. Its primary risks include heavy exposure to the software sector and the inherent cyclicality of private credit. The firm also provides growth capital and general refinancing. It prefers to invest in companies in basic and growth manufacturing, business services, consumer products, healthcare products and services, and information technology. The fund will also consider investments in industries such as:
Restaurants Retail Oil and gas Technology It focuses on investments in the Northeast, Mid-Atlantic, Southeast, and Southwest regions from its New York office; the Midwest region from its Chicago office; and the Western region from its Los Angeles office.
The fund typically invests between $20 million and $200 million, with a maximum of $400 million, in companies with EBITDA between $10 million and $250 million annually. It makes debt investments ranging from $10 million to $100 million. The fund invests through:
Revolvers First-lien loans Warrants Unitranche structures Second-lien loans Mezzanine debt Private high yield Junior Capital Subordinated debt Non-control preferred and common equity The fund also selectively considers third-party-led senior and subordinated debt financings and opportunistically acquires stressed and discounted debt positions. Ares Capital prefers to act as an agent and lead transactions in which it invests. The fund also seeks board representation in its portfolio companies.
$20,000 would purchase 1,075 shares that pay $1.92 per year, for a total of $2,065.
Truist Financial has a Buy rating and a $22 target price.
Blackstone Secured Lending Fund Run by one of the world’s biggest asset managers, and paying a stunning 13% dividend, this is a solid anchor position for the portfolio. Blackstone Secured Lending Fund (NYSE: BXSL) is an externally managed, non-diversified, closed-end management investment company. Its investment objectives are to generate current income and, to a lesser extent, long-term capital appreciation.
About 98% of the company’s portfolio is invested in first-lien, senior-secured debt, meaning it sits at the very front of the repayment queue if a borrower runs into trouble, a figure virtually unmatched among large BDCs. Its non-accrual rate was just 0.6% as of the end of 2025, one of the lowest in the sector, and the average loan-to-value across the portfolio stood at 50.5%.
The fund invests at least 80% of its total assets in secured debt investments. It seeks to achieve its investment objectives primarily through originated loans and other securities, including syndicated loans of private U.S. companies, typically in the form of first lien senior secured and unitranche loans (including first out/last out loans), and to a lesser extent, second lien, third lien, unsecured and subordinated loans, and other debt and equity securities.
It invests across various sectors, including aerospace and defense, air freight and logistics, building products, commercial services and supplies, healthcare providers and services, and others. Blackstone Credit BDC Advisors externally manages the company.
$20,000 would buy 850 shares that pay $3.08 per year, for a total of $2,618.
Truist Financial has a Buy rating with a $30 target price.
Starwood Property Trust Starwood Capital is a well-established global investor with international investments across more than 30 countries. It is an affiliate of Starwood Property Trust (NYSE: STWD), which boasts a 11.30% dividend yield and is led by real estate legend Barry Sternlicht. The real estate investment trust (REIT) operates in the United States, Europe, and Australia through four segments:
Commercial and Residential Lending Infrastructure Lending Property Investing and Servicing The Commercial and Residential Lending segment:
Originates, acquires, finances, and manages commercial first mortgages Non-agency residential mortgages Subordinated mortgages Mezzanine loans Preferred Equity Commercial mortgage-backed securities (CMBS) Residential mortgage-backed securities The Infrastructure Lending segment originates, acquires, finances, and manages infrastructure debt investments. The Property segment primarily develops and manages equity interests in stabilized commercial real estate properties, including multifamily and net-leased commercial properties, held for investment purposes.
The Investing and Servicing segment:
Manages and works out problem assets Acquires and holds unrated, investment-grade, and non-investment-grade rated CMBS comprising subordinated interests of securitization and re-securitization transactions Originates conduit loans to sell these loans into securitization transactions and acquire commercial real estate assets, including properties from CMBS trusts Keefe, Bruyette & Woods has an Outperform rating and a $20 target price.
$20,000 will purchase 1,115 shares that pay $1.92 per year. That equals $2,140 in passive income.
Trinity Capital Trinity Capital (NASDAQ: TRIN) offers venture debt financing to high-growth, venture capital-backed startups. Based in Phoenix, this company also pays a massive 12.10% dividend. It is an internally managed, closed-end, non-diversified management investment company that operates as a BDC. It is a specialty lending company that provides debt, including loans and equipment financing, to growth-stage companies, including venture-backed companies and companies with institutional equity investors.
Its investment objective is to generate current income and capital appreciation through its investments across five vertical markets. It seeks to achieve its investment objective by making investments consisting primarily of term loans, equipment financings, working capital loans, equity, and equity-related investments. The equipment financings involve loans for general or specific use, including the acquisition of equipment that is secured by the portfolio company’s equipment or other assets. Trinity Capital invests in growth-stage companies, which are typically private and often backed by institutional investors.
$20,000 will buy 1,295 shares that pay $2.04 per year. That totals $2,645.
April net investment activity reached a multi-year low as rising stock valuations and BDC sector weakness prompted a cautious approach and selective BDC purchases. Focused April allocations on Ares Capital, Blue Owl Capital, and Hercules Capital, yielding a 7.5% average on new investments despite sector headwinds. Dividend income set a modest April record at $990, up 3% year-over-year, with BDCs contributing 27% of Q2 year-to-date dividends but facing potential further cuts.
The average dividend yield is pretty paltry these days. The S&P 500 recently hit its lowest yield on record at around 1%. That's making it harder for investors to find attractive stocks to buy for generating dividend income.
However, there are still some compelling income opportunities. Here are three dividend stocks with monster yields to buy this June.
Image source: Getty Images.
Ares Capital Ares Capital (ARCC +0.05%) is a business development company (BDC). As a result, it needs to distribute 90% of its taxable net income to investors via dividends to remain in compliance with IRS regulations. That required payout ratio is why the BDC currently offers a monster 10.2% yield.
A dividend yield in the double digits is often a sign of a higher risk profile. While Ares Capital is certainly a higher-risk dividend stock, its dividend has proven to be very durable over the years. Ares has delivered a stable-to-growing dividend for more than 16 consecutive years.
Today's Change
(
0.05
%) $
0.01
Current Price
$
19.04
Ares is currently generating more than enough income to cover its current dividend level of $0.48 per share each quarter. For example, it generated $0.47 per share of core earnings in the first quarter, along with $0.15 per share of net realized gains, bringing the combined total well above the dividend payment. Additionally, Ares estimated that it carried forward $1.38 per share of excess taxable income from last year for distribution in 2026, giving it a sizable buffer. Add in its strong financial profile, a more stable interest rate environment, and solid credit performance across its portfolio, and Ares believes the "current dividend approximates the long-run underlying earnings power of our business," stated CEO Kort Schnabel on the first-quarter conference call.
Energy Transfer Energy Transfer (ET 0.10%) is a master limited partnership (MLP), an entity that sends a Schedule K-1 Federal tax form each year. MLPs are pass-through entities that typically distribute a meaningful percentage of their cash flow to investors each year. That's why the pipeline company currently yields 7%.
Today's Change
(
-0.10
%) $
-0.02
Current Price
$
19.04
The MLP generated $2.7 billion of distributable cash flow in the first quarter, easily covering the nearly $1.2 billion it distributed to investors. Energy Transfer retained the remaining cash to reinvest in the partnership. The pipeline company currently plans to invest between $5.5 billion and $5.9 billion in organic expansion projects this year, including pipeline expansions, gas processing plants, and other midstream energy infrastructure. The company currently has projects underway that should enter commercial service through 2030.
Those expansions should give Energy Transfer the fuel to continue growing its high-yielding distribution, which it has done every year since resetting its payout level in 2020 to strengthen its financial profile. The MLP is in the strongest financial position in its history, further supporting its plan to increase its payout by 3% to 5% each year.
Starwood Property Trust Starwood Property Trust (STWD 0.41%) is a real estate investment trust (REIT) primarily focused on commercial mortgage investments. REITs, like BDCs, must distribute at least 90% of their taxable net income to investors via dividends. That's why Starwood currently offers an 11.2% dividend yield.
Today's Change
(
-0.41
%) $
-0.07
Current Price
$
17.09
The REIT's focus is on providing investors with a secure dividend. Starwood has never cut its dividend and has maintained its current quarterly rate of $0.48 per share for over a decade. While Starwood's distributable earnings were below the dividend in the first quarter ($0.39 per share), it has $3.87 per share of unrealized distributable earnings from property gains to support the dividend.
Starwood has also steadily diversified its business over the years to enhance the sustainability of its dividend. In addition to investing in commercial mortgages, Starwood also invests in residential mortgages and infrastructure-backed loans and owns a growing real estate portfolio. Last year, Starwood bought Fundamental Income Properties for $2.2 billion, adding a net lease real estate investment platform to its portfolio. Net-leased real estate provides durable, growing rental income, which will help support Starwood's dividend (Fundamental's portfolio had a 17-year weighted-average lease term and 2.2% average annual rent escalations).
Boost your dividend income in June Ares Capital, Energy Transfer, and Starwood Property all currently offer monster dividend yields. They have done a solid job of sustaining their dividends over the years, which should continue. That makes them enticing dividends stocks for more risk-tolerant investors to buy this June to bolster their dividend income.
Pre-Market Stock Futures: Futures are trading lower on Tuesday, but the technology tsunami continued on Monday, as all major indices dipped into the red early on news that Iran was halting the peace negotiations and would block the Strait of Hormuz. But that sell-off lasted until about noon, before a big reversal, which, by that close, had all the major indices except the Russell 2000 ending the day higher. The S&P 500, which is looking to post its 10th consecutive week of gains, once again finished at an all-time high, closing up 0.26% at $7,599, while the Nasdaq was last seen at 27,086, up 0.42%. The Dow Jones Industrial Average, which was down big early on, closed Monday at 51,078, up 0.09%. As mentioned, the only index to finish the day lower was the small-cap-loaded Russell 2000, which closed at 2,905, down 0.47%.
Treasury Bonds: Yields closed higher across the Treasury curve, except for the very long-end 20 and 30-year maturities, as hot rhetoric from Iran brought some sellers in after last week’s big rally in government debt. When the dust settled on Monday, the yields on the 20-year and 30-year bonds ended at 4.97%, a level that was surprisingly the same given the duration gap. This has happened in the past, as the 20-year Treasury has historically suffered from lower liquidity and different investor demand than the highly sought-after 30-year bond.
Oil and Gas: Naturally, after a nice move lower in energy prices, which consumers could use ahead of the busy summer driving season, the major oil benchmarks jumped higher on news about Iran and some military exchanges in the Middle East. Brent Crude closed Monday at $95.33, up 4.62%, while West Texas Intermediate was last seen at $92.42, up a whopping 5.79%. Natural gas, which rallied sharply to end May, closed down 3.13% at $3.19.
Gold: After a solid week to end May, the precious metals complex started June lower, despite geopolitical issues that often prompt investors to look to the sector. By the closing bell, Gold was quoted at $4,484, down 1.19%, while Silver ended Monday’s action at $74.74, down 0.54%. UBS said yesterday that it remains very bullish across all commodities in 2026.
Crypto: Bitcoin dipped below $72,000 on Monday, falling roughly 2.5% over the past 24 hours. The decline followed a morning announcement from Strategy that it had sold 32 Bitcoin for approximately $2.5 million. This was its first sale since 2022, triggering selling pressure across the broader cryptocurrency market. At 8 AM EDT, Bitcoin traded at $69,370, while Ethereum traded at $1,974.
24/7 Wall St. reviews dozens of analyst research reports daily to identify new investment ideas for both investors and traders. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock.
Here are some of the top Wall Street analyst upgrades, downgrades, and initiations seen on Tuesday, June 2, 2026.
Upgrades: Hewlett Packard Enterprise (NYSE: HPE | HPE Price Prediction) was upgraded to Buy from Hold at Loop Capital, which blasted the target price for the legacy technology giant to $75 from $23. Knight-Swift Transportation Holdings (NYSE: KNX) was upgraded to Positive from Neutral at Susquehanna, which lifted the target price to $90 from $72. Macerich (NYSE: MAC) was upgraded to Buy from Hold at Deutsche Bank, which raised the price target to $27 from $20. Meta Platforms (NASDAQ: META) was raised to Buy from Neutral at Arete, which boosted the target price for the tech giant to $735 from $614. Tripadvisor (NASDAQ: TRIP) was upgraded to Outperform from Neutral at Wedbush, which moved the price target to $19 from $12. Downgrades: Abivax (NASDAQ: ABVX) was downgraded to Hold from Buy at Jefferies, which cut the price target to $90 from $160. Danaher (NYSE: DHR) was assumed with a Peer Perform rating down from Outperform at Wolfe Research, without a target price. Intuit (NASDAQ: INTU) was downgraded to Sell from Neutral at Goldman Sachs, which slashed the target price for the stock to $276 from $519. Sherwin-Williams (NYSE: SHW) was cut to Neutral from Buy at UBS, which dropped the price target for the stock to $330 from $385. Taylor-Morrison Home (NYSE: TMHC) was downgraded to Hold from Buy at Truist, with a $72.50 tartget price. Berkshire Hathaway is purchasing the homebuilder. Initiations: CoreWeave (NASDAQ: CRWV) was initiated with an Outperform rating at BNP Paribas, which has a $192 target price. Guardant Health (NYSE: GH) was assumed with an Outperform rating at Wolfe Research, which lifted the target price for the shares to $150 from $120. Starwood Property Trust (NASDAQ: STWD) was resumed with a Buy rating at UBS, with a $21 target price objective. Take-Two Interactive Software (NASDAQ: TTWO) was started with an Overweight rating at Piper Sandler, with a $280 target price. Unity Software (NYSE: U) was assumed with an Overweight rating at Piper Sandler, which bumped the target price for the share to $40 from $35.
– Company Has Won Nareit's Gold Investor CARE Award in the Mortgage REIT Category 10 Times Since the Category's Introduction in 2014 –
, /PRNewswire/ -- Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced that it has received the 2026 Nareit Gold Investor CARE (Communications & Reporting Excellence) Award in the mortgage REIT category. The award, which recognizes excellence in shareholder communications and investor engagement, is presented annually to a single recipient in each category.
This marks the 10th time that Starwood Property Trust has received the award since Nareit introduced the mortgage REIT category in 2014.
"We are honored to again be recognized by Nareit for our commitment to transparency, accessibility and high-quality investor engagement," said Barry Sternlicht, Chairman and Chief Executive Officer of Starwood Property Trust. "Providing shareholders with clear and thoughtful disclosure has always been central to our philosophy. We believe our disciplined approach, combined with direct engagement with investors and analysts, helps foster long-term trust and confidence in our platform."
Jeffrey DiModica, President of Starwood Property Trust, added, "The consistency with which we have earned this recognition reflects the strength of our investor relations efforts across market cycles. We remain committed to providing timely, transparent and thoughtful communication to all of our stakeholders as we continue to grow and evolve our diversified platform."
The Nareit Investor CARE Awards recognize listed REITs that demonstrate excellence in communicating and reporting to shareholders, with judging criteria spanning investor presentations, SEC filings, earnings calls, corporate websites and overall investor relations practices.
This recognition follows another recent industry honor, as Starwood Property Trust was also named Mortgage REIT of the Year by PERE Credit as part of the publication's 2025 PERE Credit Awards, which recognize leading firms and transactions across the real estate private credit industry.
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. Additional information can be found at www.starwoodpropertytrust.com.
