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Last $21.76 USD
Change Today +0.05 / 0.23%
Volume 2.4M
STWD On Other Exchanges
Symbol
Exchange
Frankfurt
As of 8:04 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

591 West Putnam Avenue

Greenwich, CT 06830

United States

Phone: 203-422-7700

Fax:

Starwood Property Trust, Inc. focuses primarily on originating, acquiring, financing and managing commercial mortgage loans and other commercial real estate debt investments, commercial mortgage-backed securities (CMBS), and other commercial real estate-related debt investments in both the U.S. and Europe. Segments The company operates its business in two segments: the Lending and the Investing and Servicing. The Lending segment includes all business activities of the company, excluding the real estate investing and servicing segment. The Lending segment generally represents investments in real estate-related loans and securities that are held-for-investment. The Investing and Servicing segment includes all business activities of the LNR Property LLC business excluding the consolidation of securitization variable interest entities (VIEs). Target Assets The company invests in target assets secured primarily by the U.S. or the European collateral. It focuses primarily on originating or acquiring commercial mortgage whole loans, B-notes, mezzanine loans, preferred equity, and mortgage-backed securities. The company might invest in performing and non-performing mortgage loans and other real estate-related loans and debt investments. It might acquire target assets through portfolio or other acquisitions. Its target assets include the following types of loans and other investments with respect to commercial real estate: B-Notes: A privately negotiated loan that is secured by a first mortgage on a single large commercial property or group of related properties and subordinated to an A Note secured by the same first mortgage on the same property or group; Mezzanine Loans: Loans made to commercial property owners that are secured by pledges of the borrower's ownership interests in the property and/or the property owner, subordinate to whole mortgage loans secured by first or second mortgage liens on the property and senior to the borrower's equity in the property; Construction or Rehabilitation Loans: Mortgage loans and mezzanine loans to finance the cost of construction or rehabilitation of a commercial property; CMBS: Securities that are collateralized by commercial mortgage loans, including senior and subordinated investment grade CMBS, below investment grade CMBS, and unrated CMBS; Corporate Bank Debt: Term loans and revolving credit facilities of commercial real estate operating or finance companies, each of which are secured by such companies' assets; Corporate Bonds: Debt securities issued by commercial real estate operating or finance companies that might or might not be secured by such companies' assets, including investment grade corporate bonds, below investment grade corporate bonds, and unrated corporate bonds; and Equity: Equity interests in commercial real estate properties. The company has also invested in the following types of loans and other debt investments relating to residential real estate: Non-Agency RMBS: Securities collateralized by residential mortgage loans that are not guaranteed by any U.S. government agency or federally chartered corporation; Residential Mortgage Loans: Loans secured by a first mortgage lien on residential property. In addition, the company might invest in the following real estate related investments: Net Leases: Commercial properties subject to net leases, which leases have longer terms than gross leases, require tenants to pay all of the operating costs associated with the properties and have contractually specified rent increases throughout their terms; Agency RMBS: RMBS for which a U.S. government agency or a federally chartered corporation guarantees payments of principal and interest on the securities; Commercial real estate owned (REO): Commercial properties purchased from CMBS trusts; and Commercial Non-performing Loans (NPLs): As part of the company’s efforts to attain additional servicing rights in Europe, the company might acquire a minority interest in portfolios of NPLs, alongside other majority investors. Regulations The company is required to comply with certain provisions of the Equal Credit Opportunity Act that are applicable to commercial loans. Tax Status The company has elected to be taxed as a real estate investment trust under the Internal Revenue Code of 1986, as amended. As a result, the company is not subject to federal or state income taxation at the corporate level to the extent it distributes annually approximately 90% of its real estate investment trust taxable income to its shareholders and satisfies certain other requirements. History Starwood Property Trust, Inc. was founded in 2009.

 

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Industry Analysis

STWD

Industry Average

Valuation STWD Industry Range
Price/Earnings 10.0x
Price/Sales 9.5x
Price/Book 1.3x
Price/Cash Flow 10.1x
TEV/Sales NM Not Meaningful
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