– Quarterly GAAP Earnings of $0.24 and Distributable Earnings (DE) of $0.48 per Diluted Share – – Paid Dividend of $0.48 per Share and Declared $0.48 Dividend for each of the next Two Quarters – – Received Repayments of $0.9 Billion in the Quarter – – Repriced our $591.0 Million Term Loan B, Reducing Spread by 50 bps to S+275 – – Received 8th Nareit Gold Investor CARE (Communications & Reporting Excellence) Award – – LNR's Commercial Special Servicer Rating of CSS1 (Highest Rating Possible) Reaffirmed by Fi ...

公司概况 - 公司主要从事房地产商业和住宅贷款、基础设施贷款、房地产物业投资和房地产投资与服务等四大业务[39,40,41,42] - 公司为房地产投资信托(REIT)，不需缴纳联邦公司所得税，只要将至少90%的应纳税所得分配给股东即可[43] - 公司通过多家全资子公司开展业务，由外部管理公司SPT Management, LLC提供管理服务[44] 可变利益实体(VIE) - 公司需要合并计算多个房地产证券化的可变利益实体(VIE)的资产和负债[45,46,47] - 公司确定了最重大影响VIE经济表现的活动，并识别出对这些活动拥有决策权的一方[53] - 公司评估了其在VIE中的经济利益是否可能对VIE产生重大影响[54] - 公司在某些情况下担任VIE的特殊服务商,拥有重大影响VIE经济表现的权利[55] - 公司选择以公允价值计量并入账的VIE的资产和负债[56] - 公司持续评估是否存在导致VIE合并结论发生变化的事实和情况变化[57] - 公司选择以公允价值计量VIE的资产和负债,并单独列示在资产负债表上[58,59] - VIE资产主要由贷款构成,以公允价值计量,少量为不良贷款转为的房地产[60,61,62,63,64] 公允价值计量 - 公司选择对某些金融资产和负债采用公允价值选择权[65,66] - 公司采用现金流折现等方法对资产和负债进行公允价值计量[67,68] 贷款组合 - 公司持有的贷款总额为194.69亿美元[106] - 其中持有待售贷款28.20亿美元[106] - 持有待售贷款中包括2.50亿美元的住宅贷款和3.16亿美元的商业贷款[106] - 持有待投资贷款166.49亿美元[106] - 其中商业贷款142.68亿美元,基础设施优先贷款23.81亿美元[106] - 商业贷款中包括13.85亿美元的第一抵押贷款,4.00亿美元的次级抵押贷款,3.03亿美元的夹层贷款[106] - 公司对持有待投资贷款计提了3.54亿美元的信用损失准备[106] - 商业贷款总额为173.83亿美元[108] - 其中商业贷款持有待售为26.46亿美元[108] - 总贷款总额为205.29亿美元[108] - 贷款损失准备为3.09亿美元[108] - 净贷款总额为202.20亿美元[109] - 可变利率贷款持有待投资总额为158.78亿美元，加权平均利差为3.9%[115] - 商业贷款中LTV小于60%的贷款余额为59.53亿美元，损失准备为0.16亿美元[124] - 基础设施贷款中电力行业贷款余额为12.46亿美元，损失准备为0.032亿美元[124] - 有609.5百万美元的贷款逾期90天或以上，但未被视为信用恶化[125][126] - 公司在2024年5月和6月分别通过抵押贷款收回了华盛顿特区的一处办公楼和纳什维尔的一处多户住宅物业[128][129] - 公司在2024年6月30日前6个月内对6笔商业贷款进行了修改,这些贷款的总摊余成本基础为9.166亿美元,占公司商业贷款的6%[131] 证券投资 - 公司将所有未在合并中抵消的RMBS归类为可供出售[152] - 截至2024年6月30日,公司RMBS投资的加权平均票面利率为5.8%,加权平均剩余期限为7.9年[155][156][157] - 截至2024年6月30日,约87.7百万美元或89%的RMBS为浮动利率[158] - 公司聘请了一家专门从事RMBS的第三方管理人,管理费用为每季度20万美元[159] - 截至2024年6月30日,公司持有的CMBS和RMBS公允价值总额为15亿美元,其中除27.9百万美元外,其余部分因合并证券化VIE而被抵消[162] - 截至2024年6月30日,公司持有的HTM债务证券总额为5.32亿美元,其中包括5.058亿美元的CMBS和1.849亿美元的优先股权益[163] - 公司对一项19.2百万美元的基础设施债券计提了1000万美元的特定信用损失准备,该债券由一座密西西比州的燃煤电厂作为抵押[167] - 公司持有两项总额为18.5百万美元的非应计商业贷款债务证券,但预期可以全额收回[168] - 截至2024年6月30日,公司HTM债务证券的到期情况为:1年内3044万美元,1-3年4.804亿美元,3-5年1.207亿美元,5年以上9114万美元[169][170] - 公司于2024年6月30日持有6,242,339股Starwood European Real Estate Finance Limited(SEREF)股票,占SEREF约2.3%权益,该投资的公允价值为7.3亿美元[171] 房地产投资 - 公司医疗办公楼投资组合包括34栋物业,总建筑面积190万平方英尺,总资产781.0百万美元,负债478.5百万美元[173] - 公司在华盛顿特区收购了一处空置办公楼,计划将其改建为多户型住宅,该物业账面价值114.7百万美元,其中8860万美元为在建工程[174] - 公司投资和服务板块拥有7处商业房地产,总资产120.1百万美元,负债68.2百万美元[175] - 公司商业和住宅贷款板块拥有的不良贷款资产转为的房地产总资产504.4百万美元,负债87.8百万美元[176] - 公司

"We created a differentiated multi-cylinder company and have maintained a low leverage balance sheet in order to enable us to outperform in times of volatility. We expect to maintain our dividend for the foreseeable future assuming macro and market conditions don't materially change. As a result, our Board has declared our third and fourth quarter dividends of $0.48 per quarter, in-line with our current dividend. Beyond our current earnings power, we have the ability to monetize the over $4.00 per share of ...

Webcast Conference Call Playback: Domestic: 1-844-512-2921 International: 1-412-317-6671 Passcode: 13742860 The playback can be accessed through August 20, 2024. About Starwood Property Trust, Inc. Zachary Tanenbaum Starwood Property Trust Phone: 203-422-7788 Email: [email protected] During the conference call, the Company's officers will review second quarter performance, discuss recent events and conduct a question-and-answer period. To Participate in the Telephone Conference Call: Dial in at least five m ...

Data by YCharts gerenme/iStock via Getty Images Data by YCharts STWD has about $26.1B in total assets, and we can see that this spans across many different areas of real estate. This wide reach enables investors to gain instant diversity within the real estate sector, which mitigates the risk from any sector-specific concentration. Speaking of risk, something that I do not like is the US Office exposure, but thankfully this only accounts for 11% of their portfolio. US Offices were a large source of weakness ...

There's no free lunch on Wall Street, but undervalued dividend stocks are focused on rewarding shareholders with capital returns are the next best thing. While the overall market is up this year, it's important to bear in mind that performance has been driven by just a handful of stocks. It's no wonder that more than half of Americans believe that the stock market is down this year. At first glance, this kind of thinking may seem preposterous to the seasoned investor, especially with the S&P 500 (SPY) tradi ...

About Starwood Property Trust, Inc. Starwood Property Trust (NYSE: STWD) is a leading diversified finance company with a core focus on the real estate and infrastructure sectors. An affiliate of global private investment firm, Starwood Capital Group, the Company has successfully deployed over $97 billion of capital since inception and manages a portfolio of over $26 billion across debt and equity investments. Starwood Property Trust's investment objective is to generate attractive and stable returns for sha ...

Starwood Property's core strength is that it is the largest commercial REIT in the U.S. and therefore has access to a ton of liquidity which the company could deploy to grow its distributable earnings, especially in times of distress. Starwood Property had $9.8B in potential liquidity available as of the end of Q1'24 which is set to make STWD a considerable force on the acquisition front. peshkov Starwood Property Trust (NYSE:STWD) is a strong choice for dividend investors in the commercial real estate mark ...

MIAMI, May 28, 2024 /PRNewswire/ -- Starwood Capital Group ("Starwood Capital"), a global private investment firm with a primary focus on real estate, today announced that Matt Smith will join the firm in June as Managing Director, Head of U.S. Residential Asset Management. In this role, Mr. Smith will oversee the Firm's existing ~107,000-unit market rate and affordable housing multi-family portfolio as well as Highmark Residential, Starwood Capital's multi-family property management affiliate. Mr. Smith ha ...

Starwood Property Trust, Inc. (NYSE:STWD) Q1 2024 Earnings Conference Call May 8, 2024 10:00 AM ET Company Participants Zach Tanenbaum - Head of IR Barry Sternlicht - Chairman and CEO Jeff DiModica - President Rina Paniry - CFO Conference Call Participants Jade Rahmani - KBW Don Fandetti - Wells Fargo Rick Shane - JPMorgan Stephen Laws - Raymond James Doug Harter - UBS Operator Greetings. Welcome to Starwood Property Trust's First Quarter 2024 Earnings Call. At this time, all participants are in a listen-o ...