Wells Fargo & Company Boosts Starwood Property Trust (NYSE:STWD) Price Target to $24.00

Starwood Property Trust (NYSE:STWD) had its price target hoisted by equities researchers at Wells Fargo & Company from $22.00 to $24.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 13.96% from the company’s current price.

STWD has been the subject of a number of other reports. BTIG Research reaffirmed a “buy” rating and set a $24.00 price target on shares of Starwood Property Trust in a research note on Friday, July 19th. JPMorgan Chase & Co. boosted their price objective on Starwood Property Trust from $20.00 to $20.50 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Wolfe Research started 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, Keefe, Bruyette & Woods raised shares of Starwood Property Trust from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $20.50 to $22.50 in a research note on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Starwood Property Trust has a consensus rating of “Moderate Buy” and an average price target of $22.36.

Starwood Property Trust Stock Performance

Shares of Starwood Property Trust stock traded down $0.05 during trading hours on Friday, reaching $21.06. The company’s stock had a trading volume of 603,827 shares, compared to its average volume of 2,313,519. Starwood Property Trust has a one year low of $17.07 and a one year high of $22.29. The company’s 50 day simple moving average is $20.01 and its 200 day simple moving average is $19.75. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a market cap of $6.67 billion, a P/E ratio of 15.15 and a beta of 1.70.

Starwood Property Trust (NYSE:STWD) last released its earnings results 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. The firm had revenue of $489.80 million for the quarter, compared to analysts’ expectations of $505.23 million. Starwood Property Trust had a net margin of 17.05% and a return on equity of 10.03%. Starwood Property Trust’s quarterly revenue was down 5.0% on a year-over-year basis. During the same quarter last year, the company earned $0.47 EPS. As a group, analysts expect that Starwood Property Trust will post 1.89 EPS for the current fiscal year.

Institutional Investors Weigh In On Starwood Property Trust

A number of large investors have recently added to or reduced their stakes in the stock. Brown Advisory Inc. raised its stake in shares of Starwood Property Trust by 77.1% in the 4th quarter. Brown Advisory Inc. now owns 105,596 shares of the real estate investment trust’s stock valued at $2,220,000 after buying an additional 45,983 shares in the last quarter. Cibc World Markets Corp bought a new position in shares of Starwood Property Trust during the 4th quarter worth approximately $2,091,000. Norges Bank acquired a new stake in Starwood Property Trust in the 4th quarter valued at $62,447,000. Aviance Capital Partners LLC bought a new stake in Starwood Property Trust in the first quarter valued at $1,773,000. Finally, Future Financial Wealth Managment LLC acquired a new position in Starwood Property Trust during the first quarter worth $44,000. Institutional investors own 49.82% of the company’s stock.

Starwood Property Trust Company 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.