Starwood Prpty Stock Price, News & Analysis

Starwood Property Trust (NYSE: STWD) has announced a $0.48 per share dividend for both the third and fourth quarters of 2024. The third quarter dividend will be paid on October 15, 2024, to stockholders of record as of September 30, 2024, while the fourth quarter dividend will be paid on January 15, 2025, to stockholders of record as of December 31, 2024.

Chairman and CEO Barry Sternlicht expressed confidence in maintaining the dividend, citing the company's differentiated multi-cylinder structure and low leverage balance sheet. The company also has the potential to monetize over $4.00 per share of distributable earnings gains from owned property. President Jeffrey DiModica highlighted the company's strong financial position, with $4.5 billion in unencumbered assets and the capacity to issue over $2.0 billion of incremental debt without amending covenants.

Starwood Property Trust (NYSE: STWD) has announced the release date for its second quarter 2024 financial results. The company will disclose its earnings on Tuesday, August 6, 2024, before the New York Stock Exchange opens for trading. A conference call is scheduled for the same day at 10:00 a.m. Eastern Time, during which company officers will review the quarter's performance, discuss recent events, and conduct a Q&A session.

Investors can access the conference call via webcast in the Investor Relations section of Starwood's website. A replay will be available on the site for 90 days. For telephone participation, domestic callers should dial 1-877-407-9039, while international callers can use 1-201-689-8470. A playback option will be accessible until August 20, 2024.

Starwood Property Trust has announced a dividend of $0.48 per share for the second quarter of 2024. The dividend will be payable on July 15, 2024, to shareholders who are on record by June 28, 2024. This announcement comes from the company's Board of Directors and pertains to the quarter ending June 30, 2024.

Starwood Capital Group has appointed Matt Smith as Managing Director, Head of U.S. Residential Asset Management, effective June 2024. Smith will oversee Starwood's 107,000-unit market rate and affordable housing portfolio, including Highmark Residential. Smith brings extensive experience, having managed a $21 billion multifamily portfolio at Brookfield and held senior roles at Related Companies, AvalonBay, and Archstone. He was most recently a Managing Principal at FrontRange Capital. Smith holds an MBA from NYU's Stern School of Business and a BA in Economics from the University of Pennsylvania.

Starwood Property Trust reported strong results for the quarter ended March 31, 2024, with GAAP earnings of $0.48 and Distributable Earnings of $0.59 per diluted share. The company issued $600 million of senior unsecured sustainability notes due 2029, sold a master lease portfolio for $387 million, and recorded over $1.0 billion in loan repayments. Liquidity reached a record $1.5 billion, and undepreciated book value per share stood at $20.69. The company paid a dividend of $0.48 per share. Starwood Property Trust continues to navigate the market successfully, focusing on low leverage multi-cylinder business strategies to create value and deploy capital into the best risk-adjusted investments across all business lines.

Starwood Capital Group, Crescent Real Estate, and High Street Real Estate Partners have successfully sold the 1 Hotel and Embassy Suites in Nashville to Host Hotels and Resorts. The sale marks the completion of a landmark joint venture, showcasing the strength of the hospitality platform and commitment to luxury eco-friendly guest experiences. The award-winning project, comprising an 18-story 1 Hotel and a 30-story Embassy Suites by Hilton tower, has quickly become one of Nashville's top-performing hotel developments. Opened in 2022, the development offers a total of 721 rooms and over 26,000 square feet of meeting space, with premium amenities such as a holistic spa, rooftop bar, swimming pools, and event spaces. The property's innovative and sustainable design has earned it the title of 2022 Development of the Year at the Americas Lodging Investment Summit.