{"id":363871,"date":"2023-11-09T12:13:58","date_gmt":"2023-11-09T17:13:58","guid":{"rendered":"https:\/\/qa.bluevaultpartners.com\/?p=363871"},"modified":"2023-11-15T12:59:55","modified_gmt":"2023-11-15T17:59:55","slug":"starwood-property-trust-reports-results-for-quarter-ended-september-30-2023","status":"publish","type":"post","link":"https:\/\/qa.bluevaultpartners.com\/starwood-property-trust-reports-results-for-quarter-ended-september-30-2023\/","title":{"rendered":"Starwood Property Trust Reports Results for Quarter Ended September 30, 2023"},"content":{"rendered":"

Starwood Property Trust, Inc.<\/em><\/p>\n

\u2013 Quarterly GAAP Earnings of $0.15 and Distributable Earnings (DE) of $0.49 per Diluted Share\u00a0<\/strong><\/p>\n

\u2013 Undepreciated Book Value Per Share of $21.15\u00a0<\/strong><\/p>\n

\u2013 Originated or Acquired $652 Million of Assets in the Quarter and $1.5 Billion Year-To-Date\u00a0<\/strong><\/p>\n

\u2013 Received Repayments of $1.1 Billion in the Quarter and $2.9 Billion Year-To-Date\u00a0<\/strong><\/p>\n

\u2013 Repaid $300 Million of Senior Notes at Maturity Subsequent to Quarter End<\/strong><\/p>\n

\u2013 Paid Dividend of $0.48 per Share\u00a0<\/strong><\/p>\n

Starwood Property Trust, Inc. (NYSE:\u00a0STWD) today announced operating results for the fiscal quarter ended\u00a0September 30, 2023.\u00a0 The Company’s third quarter 2023 GAAP net income was\u00a0$47.4 million, and Distributable Earnings (a non-GAAP financial measure) was\u00a0$158.4 million.<\/p>\n

“With the U.S. regional and money center banks having dramatically reduced their real estate lending activities, the lending markets today present tremendous return opportunities.\u00a0 In contrast to many of our public peers, we have actually been deploying capital, with\u00a0$2.7 billion\u00a0of new investments over the last twelve months.\u00a0 We have been extremely selective in doing so until both the level of interest rates and the trajectory of the economy become more transparent. Nonetheless, we are positioned to perform. Our significant current liquidity, our lower leveraged balance sheet, and our diversified business model, position STWD to immediately capitalize on these credit conditions as the windshield clears. With the opportunity set before us, and what we feel will be a more permanent lack of capital from traditional lending sources, STWD is positioned to become one of the leading private credit alternative firms for real estate and infrastructure lending in the world,” commented\u00a0Barry Sternlicht, Chairman and CEO of Starwood Property Trust.<\/p>\n

“We again demonstrated our access to capital in the most difficult markets, raising\u00a0$381 million\u00a0of convertible notes.\u00a0 With near record levels of liquidity and access to significant additional capital sources, we are very well positioned for this environment,” added\u00a0Jeffrey DiModica, President of Starwood Property Trust.<\/p>\n

Supplemental Schedules<\/strong><\/p>\n

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.\u00a0 Specifically, these materials can be found on the Company’s website in the Investor Relations section under “Quarterly Results” at\u00a0www.starwoodpropertytrust.com.<\/p>\n

Webcast and Conference Call Information\u00a0<\/strong><\/p>\n

The Company will host a live webcast and conference call on Wednesday, November\u00a08, 2023, at\u00a010:00 a.m. Eastern Time.\u00a0 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\u00a0www.starwoodpropertytrust.com\u00a0in the Investor Relations section of the website.\u00a0 The Company encourages use of the webcast due to potential extended wait times to access the conference call via dial-in.\u00a0<\/p>\n

To Participate via Telephone Conference Call:<\/strong>
\nDial in at least 15 minutes prior to start time.
\nDomestic:\u00a0 1-877-407-9039
\nInternational:\u00a0 1-201-689-8470<\/p>\n

Conference Call Playback:<\/strong>
\nDomestic:\u00a0 1-844-512-2921
\nInternational:\u00a0 1-412-317-6671
\nPasscode:\u00a0 13739159
\nThe playback can be accessed through\u00a0November 22, 2023.<\/p>\n

 <\/p>\n

About Starwood Property Trust, Inc.<\/strong><\/span><\/p>\n

Starwood Property Trust (NYSE:\u00a0STWD), 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.\u00a0 As of September\u00a030, 2023, the Company has successfully deployed over\u00a0$95 billion\u00a0of capital since inception and manages a portfolio of over\u00a0$27 billion\u00a0across 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\u00a0www.starwoodpropertytrust.com.<\/span><\/p>\n

Forward-Looking Statements<\/strong><\/span><\/p>\n

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. \u00a0Forward-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. \u00a0Although 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. \u00a0Factors 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, the severity and duration of economic disruption caused by the COVID-19 global pandemic (including the variants and resurgences) 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\u00a031, 2022, 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 September\u00a030, 2023.<\/span><\/p>\n

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.\u00a0 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.<\/span><\/p>\n

Additional information can be found on the Company’s website at\u00a0www.starwoodpropertytrust.com<\/a>.<\/span><\/p>\n

Contact<\/strong>:<\/span>
\nZachary Tanenbaum<\/span>
\nStarwood Property Trust<\/em><\/span>
\nPhone: 203-422-7788<\/span>
\nEmail:\u00a0ztanenbaum@starwood.com<\/a><\/span><\/p>\n

 <\/p>\n

<\/div>","protected":false},"excerpt":{"rendered":"

Starwood Property Trust, Inc. \u2013 Quarterly GAAP Earnings of $0.15 and Distributable Earnings (DE) of $0.49 per Diluted Share\u00a0 \u2013 Undepreciated Book Value Per Share of $21.15\u00a0 \u2013 Originated or … <\/p>\n

Read more<\/a><\/p>\n","protected":false},"author":3681,"featured_media":36839,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[3010,2910],"tags":[],"class_list":["post-363871","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asset-manager-news","category-starwood"],"acf":[],"yoast_head":"\nStarwood Property Trust Reports Results for Quarter Ended September 30, 2023 - Blue Vault<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/qa.bluevaultpartners.com\/starwood-property-trust-reports-results-for-quarter-ended-september-30-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Starwood Property Trust Reports Results for Quarter Ended September 30, 2023 - 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