Shares of Starwood Property Trust, Inc. (NYSE:STWD – Get Rating) saw unusually-strong trading volume on Friday after the company announced a dividend. Approximately 5,022,478 shares changed hands during mid-day trading, an increase of 61% from the previous session’s volume of 3,127,515 shares.The stock last traded at $16.55 and had previously closed at $17.29.
The newly announced dividend which will be paid on Friday, April 14th. Stockholders of record on Friday, March 31st will be paid a $0.48 dividend. The ex-dividend date is Thursday, March 30th. This represents a $1.92 annualized dividend and a dividend yield of 11.47%. Starwood Property Trust’s payout ratio is 70.07%.
Analyst Upgrades and Downgrades
STWD has been the subject of several recent analyst reports. Credit Suisse Group cut shares of Starwood Property Trust from an “outperform” rating to a “neutral” rating in a research note on Monday, January 9th. Keefe, Bruyette & Woods reduced their price objective on shares of Starwood Property Trust from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Tuesday, March 14th. Finally, StockNews.com initiated coverage on shares of Starwood Property Trust in a research note on Thursday. They set a “hold” rating for the company. Two 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.07.
Starwood Property Trust Trading Down 3.2 %
Hedge Funds Weigh In On Starwood Property Trust
A number of hedge funds and other institutional investors have recently bought and sold shares of STWD. Norges Bank purchased a new position in Starwood Property Trust in the 4th quarter worth approximately $30,110,000. Vanguard Group Inc. lifted its holdings in shares of Starwood Property Trust by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 27,349,821 shares of the real estate investment trust’s stock worth $498,314,000 after acquiring an additional 474,537 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Starwood Property Trust by 49.9% in the 3rd quarter. Jennison Associates LLC now owns 1,313,168 shares of the real estate investment trust’s stock worth $23,926,000 after acquiring an additional 437,115 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Starwood Property Trust by 84.8% in the 3rd quarter. First Trust Advisors LP now owns 885,089 shares of the real estate investment trust’s stock worth $16,126,000 after acquiring an additional 406,153 shares during the last quarter. Finally, ExodusPoint Capital Management LP bought a new stake in shares of Starwood Property Trust in the 3rd quarter worth approximately $7,331,000. Hedge funds and other institutional investors own 43.77% of the company’s stock.
Starwood Property Trust Company Profile
Starwood Property Trust, Inc engages in originating, acquiring, financing and managing commercial mortgage loans and other commercial real estate debt and equity investments. It operates through the following segments: Real Estate Commercial and Residential Lending, Infrastructure Lending, Real Estate Property, and Real Estate Investing and Servicing.
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