Starwood Property Trust (NYSE:STWD) PT Lowered to $23.00 at BTIG Research

Starwood Property Trust (NYSE:STWD) had its price target trimmed by BTIG Research from $24.00 to $23.00 in a report published on Wednesday, Benzinga reports. The firm currently has a buy rating on the real estate investment trust’s stock.

A number of other research firms have also commented on STWD. Bank of America reiterated a neutral rating and set a $21.50 price target (down from $22.50) on shares of Starwood Property Trust in a report on Monday, March 4th. Wells Fargo & Company upped their price target on shares of Starwood Property Trust from $21.00 to $22.00 and gave the company an outperform rating in a report on Friday, February 23rd. Keefe, Bruyette & Woods lowered their price target on shares of Starwood Property Trust from $21.00 to $20.50 and set a market perform rating for the company in a report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Starwood Property Trust from $21.00 to $20.00 and set an overweight rating on the stock in a research report on Wednesday, April 10th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Starwood Property Trust presently has an average rating of Moderate Buy and an average target price of $21.71.

Starwood Property Trust Trading Up 1.2 %

NYSE:STWD opened at $19.37 on Wednesday. The company has a fifty day moving average of $19.87 and a 200 day moving average of $19.92. Starwood Property Trust has a 52 week low of $16.06 and a 52 week high of $22.29. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 2.95. The firm has a market capitalization of $6.08 billion, a P/E ratio of 18.10 and a beta of 1.65.

Starwood Property Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.91%. The ex-dividend date was Wednesday, March 27th. Starwood Property Trust’s dividend payout ratio is presently 179.44%.

Insider Transactions at Starwood Property Trust

In other news, President Jeffrey F. Dimodica sold 100,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $20.28, for a total value of $2,028,000.00. Following the sale, the president now directly owns 1,226,673 shares of the company’s stock, valued at approximately $24,876,928.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, President Jeffrey F. Dimodica sold 100,000 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $20.28, for a total transaction of $2,028,000.00. Following the sale, the president now directly owns 1,226,673 shares of the company’s stock, valued at approximately $24,876,928.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Jeffrey F. Dimodica sold 25,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $20.33, for a total transaction of $508,250.00. Following the sale, the president now directly owns 925,984 shares in the company, valued at $18,825,254.72. The disclosure for this sale can be found here. Insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Starwood Property Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Salem Investment Counselors Inc. lifted its stake in Starwood Property Trust by 50.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 1,500 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 500 shares during the period. Raymond James Trust N.A. lifted its stake in Starwood Property Trust by 4.1% during the 1st quarter. Raymond James Trust N.A. now owns 12,803 shares of the real estate investment trust’s stock valued at $309,000 after acquiring an additional 500 shares during the period. Parkside Financial Bank & Trust lifted its stake in Starwood Property Trust by 9.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 6,436 shares of the real estate investment trust’s stock valued at $135,000 after acquiring an additional 547 shares during the period. AQR Capital Management LLC lifted its stake in Starwood Property Trust by 5.8% during the 4th quarter. AQR Capital Management LLC now owns 10,661 shares of the real estate investment trust’s stock valued at $195,000 after acquiring an additional 584 shares during the period. Finally, Highland Capital Management LLC lifted its stake in shares of Starwood Property Trust by 1.4% in the 4th quarter. Highland Capital Management LLC now owns 43,200 shares of the real estate investment trust’s stock worth $908,000 after purchasing an additional 600 shares during the period. Institutional investors own 49.82% of the company’s stock.

About Starwood Property Trust

Starwood Property Trust, Inc operates as a real estate investment trust (REIT) in the United States and internationally. The company operates through Commercial and Residential Lending, Infrastructure Lending, Property, and Investing and Servicing segments. 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), and residential mortgage-backed securities, as well as other real estate and real estate-related debt investments, include distressed or non-performing loans.