Financial Position - As of September 30, 2024, total assets decreased to $64.23 billion from $69.50 billion as of December 31, 2023, reflecting a decline of approximately 7.5%[8] - Total liabilities decreased to $56.95 billion from $62.48 billion, a decline of around 8.5%[8] - The company reported an increase in additional paid-in capital to $6.31 billion from $5.86 billion, an increase of approximately 7.6%[8] - Retained earnings decreased to $346.18 million from $505.88 million, a decline of about 31.5%[8] - As of September 30, 2024, Starwood Property Trust reported total stockholders' equity of $6,539,723, an increase from $6,414,494 as of June 30, 2024, reflecting a growth of approximately 1.95%[15] Revenue and Income - Total revenues for the three months ended September 30, 2024, were $479,540,000, a decrease of 8.1% from $521,547,000 in the same period of 2023[10] - Net income attributable to Starwood Property Trust, Inc. for the three months ended September 30, 2024, was $76,068,000, an increase of 60.5% compared to $47,435,000 in the prior year[10] - Earnings per share (EPS) for the three months ended September 30, 2024, were $0.23, compared to $0.15 for the same period in 2023, reflecting a 53.3% increase[10] - Comprehensive income attributable to Starwood Property Trust, Inc. for the three months ended September 30, 2024, was $78,404,000, up from $44,194,000 in the same period of 2023[12] Expenses and Costs - Total costs and expenses for the three months ended September 30, 2024, were $502,575,000, a slight decrease of 3.3% from $519,600,000 in the same period of 2023[10] - Interest expense for the three months ended September 30, 2024, was $337,859,000, a decrease of 8.3% from $368,357,000 in the same period of 2023[10] Loans and Credit Losses - Loans held-for-investment net of credit loss allowances decreased to $16.13 billion from $17.57 billion, a reduction of about 8.2%[8] - The credit loss provision, net, increased to $66,427,000 for the three months ended September 30, 2024, compared to $52,634,000 in the same period of 2023, indicating a rise of 26.3%[10] - Credit loss allowances totaled $(404,924) as of September 30, 2024, up from $(309,039) as of December 31, 2023, representing an increase of approximately 30.9%[99] Cash Flow and Investments - Net cash provided by operating activities decreased to $351,006 for the nine months ended September 30, 2024, from $516,743 in 2023, a decline of about 32.0%[20] - Net cash provided by investing activities rose to $1,746,413 for the nine months ended September 30, 2024, compared to $943,158 in 2023, an increase of about 85.5%[20] - The company reported a net increase in cash and cash equivalents of $199,683 for the nine months ended September 30, 2024, compared to an increase of $48,754 in 2023[23] Shareholder Activities - The company declared dividends of $0.48 per share for the third quarter, totaling $162,571, compared to $150,825 in the previous quarter, indicating a 7.5% increase in dividend distribution[15] - The total number of common shares outstanding increased to 344,664,618 as of September 30, 2024, up from 324,133,801 as of June 30, 2024, representing a growth of approximately 6.36%[15] Asset Management and Strategy - The company is focused on originating, acquiring, financing, and managing mortgage loans and other real estate investments in the U.S., Europe, and Australia, adjusting strategies based on market conditions[25] - The company operates through four reportable business segments, including Commercial and Residential Lending, Infrastructure Lending, Property, and Investing and Servicing[26] Market and Economic Conditions - The total allowances for credit losses increased due to a more adverse macroeconomic outlook affecting the office and retail sectors, impacting the overall credit quality assessment[100] - The company has not experienced realized credit losses on its HFI loans and HTM securities, relying on third-party data for historical industry losses[62] Property Transactions - The company recognized a gain of $92.0 million from the sale of 16 retail properties for a gross sale price of $387.1 million, with net proceeds of $188.0 million after mortgage debt assumption[88] - During the nine months ended September 30, 2024, the company sold an operating property for $18.2 million, recognizing a gain of $8.3 million[89] Debt and Financing - As of September 30, 2024, total secured financing agreements amounted to $21.78 billion, with an outstanding balance of $11.85 billion[171] - The company entered into a new credit facility in August 2024 with a maximum size of $250 million, carrying a four-year initial maturity[174] - The total principal amount of unsecured senior notes outstanding is $2,780.75 million, an increase from $2,180.75 million at December 31, 2023[197] Compliance and Governance - The company was in compliance with all financial tests and covenants as of September 30, 2024[175] - The company expects no material impact from recent accounting standards updates on its segment disclosures and income tax disclosures[84][85]

Over the past two years, commercial mortgage REITs have faced challenges due to rising interest rates. There are a variety of ways that rising rates impact mREIT performance, such as the following: REITer's Digest is a discussion forum for my thoughts on investments. I spent more than ten years working in the real estate industry, including an S&P500 REIT and a Big Four consulting group. I am light-hearted, openminded, and a student of the game. Investing is not for the faint of heart and we're in this toge ...

GREENWICH, Conn., Oct. 8, 2024 /PRNewswire/ -- Starwood Property Trust (NYSE: STWD) today announced that the Company will release its third quarter 2024 financial results on Wednesday, November 6, 2024 before the opening of trading on the New York Stock Exchange. A conference call will be held on Wednesday, November 6, 2024 at 10:00 a.m. Eastern Time. During the conference call, the Company's officers will review third quarter performance, discuss recent events and conduct a question-and-answer period. Webc ...

Targeting U.S. markets rich in natural experiences—such as national parks, mountains, and ski towns—Field & Stream Lodge Co. is perfectly positioned in Bozeman. Located just one mile from downtown and two hours from Yellowstone National Park, the property offers breathtaking mountain views and thoughtfully designed indoor and outdoor spaces. Surrounded by three rivers, four mountain ranges, and two ski resorts, it serves as a year-round destination for hiking, biking, fly fishing, and skiing. "We are thrill ...

GREENWICH, Conn., Sept. 26, 2024 /PRNewswire/ -- Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced that it has priced its private offering of $400 million aggregate principal amount of its 6.000% unsecured senior notes due 2030 (the "Notes"). The Notes priced at 100.0% of the principal amount and the settlement of the offering is expected to occur on October 10, 2024, subject to customary closing conditions. The Company intends to allocate an amount equal to the net proceeds from th ...

PM Images I have been a shareholder in Starwood Property Trust (NYSE:STWD) since the end of 2016, and it's been an income investor's dream. No matter what has happened in the global economy, STWD has produced a quarterly dividend of $0.48 like clockwork. Over the past decade, shares of STWD have declined by -13.41% or -$2.59, but shareholders have collected $19.20 in dividend income without considering the power of compounding interest for those who reinvested the dividends. Despite navigating recessions, a ...

GREENWICH, Conn., Sept. 5, 2024 /PRNewswire/ -- Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced that the underwriters for the Company's recently completed public offering of 17,500,000 shares of its common stock have fully exercised their option to purchase an additional 2,625,000 shares. After giving effect to the full exercise of the option, the aggregate net proceeds of the offering of the 20,125,000 shares of common stock will be approximately $391.7 million after deducting th ...

GREENWICH, Conn., Sept. 3, 2024 /PRNewswire/ -- Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced the pricing of an underwritten public offering of 17,500,000 shares of its common stock for total estimated gross proceeds of approximately $345.1 million (or approximately $396.9 million if the option to purchase additional shares is exercised in full). The underwriters have a 30-day option to purchase up to an additional 2,625,000 shares from the Company. Settlement of the offering is ...

GREENWICH, Conn., Sept. 3, 2024 /PRNewswire/ -- Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced that, subject to market and other conditions, it is offering 17,500,000 shares of its common stock in an underwritten public offering. The underwriters will have a 30-day option from the date of the offering to purchase up to an additional 2,625,000 shares from the Company. All of the shares will be issued under the Company's currently effective shelf registration statement filed with t ...

VioletaStoimenova The pay-out metrics of commercial real estate investment trust Starwood Property Trust Inc. (NYSE:STWD) weakened in the second quarter, but the trust still managed to cover its $0.48 per share per quarter dividend with distributable earnings in 2Q24. Starwood Property Trust is well-diversified and has relatively low exposure to U.S. offices, which are two key strengths that I see for the company that its peers don't have. Furthermore, the central bank is poised to lower interest rates, whi ...