State of Michigan Retirement System Trims Position in Starwood Property Trust, Inc. (NYSE:STWD)

State of Michigan Retirement System lessened its stake in Starwood Property Trust, Inc. (NYSE:STWD) by 1.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,300 shares of the real estate investment trust’s stock after selling 800 shares during the period. State of Michigan Retirement System’s holdings in Starwood Property Trust were worth $1,369,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC purchased a new position in Starwood Property Trust during the 4th quarter valued at about $26,000. Allspring Global Investments Holdings LLC purchased a new position in Starwood Property Trust during the 1st quarter valued at about $26,000. ICA Group Wealth Management LLC purchased a new position in Starwood Property Trust during the 4th quarter valued at about $28,000. Core Wealth Advisors Inc. purchased a new position in shares of Starwood Property Trust in the 4th quarter worth approximately $32,000. Finally, Cape Investment Advisory Inc. purchased a new position in shares of Starwood Property Trust in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 49.82% of the company’s stock.

Starwood Property Trust Stock Performance

Shares of NYSE STWD opened at $20.71 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 2.80. Starwood Property Trust, Inc. has a 12 month low of $17.07 and a 12 month high of $22.29. The company has a 50 day simple moving average of $19.68 and a two-hundred day simple moving average of $19.70. The stock has a market cap of $6.56 billion, a price-to-earnings ratio of 14.90 and a beta of 1.69.

Starwood Property Trust (NYSE:STWD) last announced its quarterly earnings data on Tuesday, August 6th. The real estate investment trust reported $0.48 EPS for the quarter, beating the consensus estimate of $0.44 by $0.04. Starwood Property Trust had a net margin of 17.05% and a return on equity of 10.03%. The business had revenue of $489.80 million during the quarter, compared to analysts’ expectations of $505.23 million. During the same period in the previous year, the business posted $0.47 EPS. The business’s quarterly revenue was down 5.0% compared to the same quarter last year. As a group, analysts predict that Starwood Property Trust, Inc. will post 1.91 earnings per share for the current year.

Starwood Property Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 9.27%. The ex-dividend date of this dividend is Monday, September 30th. Starwood Property Trust’s dividend payout ratio is currently 138.13%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Raymond James cut their price objective on shares of Starwood Property Trust from $23.50 to $23.00 and set a “strong-buy” rating on the stock in a research report on Thursday, May 16th. BTIG Research reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Starwood Property Trust in a research report on Friday, July 19th. Keefe, Bruyette & Woods lifted their price objective on shares of Starwood Property Trust from $20.00 to $20.50 and gave the stock a “market perform” rating in a research report on Friday, August 9th. Wolfe Research initiated coverage on shares of Starwood Property Trust in a research note on Tuesday, June 25th. They issued a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. lifted their target price on shares of Starwood Property Trust from $20.00 to $20.50 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Starwood Property Trust presently has an average rating of “Moderate Buy” and an average price target of $21.79.

Starwood Property Trust Profile

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.