Covestor Ltd lifted its holdings in shares of Starwood Property Trust, Inc. (NYSE:STWD – Free Report) by 11.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,850 shares of the real estate investment trust’s stock after purchasing an additional 1,555 shares during the period. Covestor Ltd’s holdings in Starwood Property Trust were worth $288,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in STWD. BlackRock Inc. grew its stake in shares of Starwood Property Trust by 54.6% during the 1st quarter. BlackRock Inc. now owns 29,655,633 shares of the real estate investment trust’s stock worth $524,608,000 after acquiring an additional 10,468,050 shares during the period. State Street Corp increased its stake in shares of Starwood Property Trust by 83.4% in the first quarter. State Street Corp now owns 8,584,507 shares of the real estate investment trust’s stock worth $155,952,000 after purchasing an additional 3,902,840 shares in the last quarter. Norges Bank bought a new stake in shares of Starwood Property Trust in the fourth quarter valued at approximately $30,110,000. Bank of New York Mellon Corp lifted its stake in shares of Starwood Property Trust by 56.6% during the 1st quarter. Bank of New York Mellon Corp now owns 3,703,445 shares of the real estate investment trust’s stock valued at $65,514,000 after buying an additional 1,338,795 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Starwood Property Trust by 4,300.0% in the 1st quarter. Principal Financial Group Inc. now owns 1,223,458 shares of the real estate investment trust’s stock valued at $21,643,000 after buying an additional 1,195,652 shares in the last quarter. Institutional investors own 49.60% of the company’s stock.
Insiders Place Their Bets
In other news, President Jeffrey F. Dimodica sold 20,111 shares of Starwood Property Trust stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $20.48, for a total value of $411,873.28. Following the transaction, the president now owns 1,035,984 shares in the company, valued at $21,216,952.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 5.40% of the stock is currently owned by insiders.
Starwood Property Trust Price Performance
Starwood Property Trust Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Saturday, September 30th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 9.76%. The ex-dividend date was Thursday, September 28th. Starwood Property Trust’s payout ratio is presently 148.84%.
Analyst Upgrades and Downgrades
STWD has been the subject of a number of analyst reports. Keefe, Bruyette & Woods lowered Starwood Property Trust from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $21.00 to $20.00 in a report on Monday, October 9th. StockNews.com started coverage on shares of Starwood Property Trust in a report on Thursday, October 5th. They issued a “hold” rating on the stock. TheStreet cut shares of Starwood Property Trust from a “c” rating to a “d+” rating in a research note on Wednesday, November 8th. Finally, JPMorgan Chase & Co. raised their price target on shares of Starwood Property Trust from $18.50 to $21.50 in a report on Monday, July 24th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $21.63.
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 four segments: 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.
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