Starwood Property Trust (NYSE:STWD) PT Raised to $24.00 at Wells Fargo & Company

Starwood Property Trust (NYSE:STWD) had its target price raised by equities researchers at Wells Fargo & Company from $22.00 to $24.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 14.50% from the company’s previous close.

Several other brokerages have also recently issued reports on STWD. Keefe, Bruyette & Woods upgraded Starwood Property Trust from a “market perform” rating to an “outperform” rating and upped their target price for the company from $20.50 to $22.50 in a report on Thursday, September 5th. BTIG Research reiterated a “buy” rating and issued a $24.00 target price on shares of Starwood Property Trust in a report on Friday, July 19th. JPMorgan Chase & Co. raised their price target on shares of Starwood Property Trust from $20.00 to $20.50 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Finally, Wolfe Research started coverage on Starwood Property Trust in a report on Tuesday, June 25th. They issued a “peer perform” rating on the stock. 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 target price of $22.36.

Starwood Property Trust Price Performance

Shares of NYSE STWD opened at $20.96 on Friday. The stock has a market capitalization of $6.62 billion, a price-to-earnings ratio of 15.08 and a beta of 1.70. Starwood Property Trust has a 52 week low of $17.07 and a 52 week high of $22.29. The firm has a 50-day simple moving average of $20.03 and a 200-day simple moving average of $19.75. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 2.80.

Starwood Property Trust (NYSE:STWD) last released its earnings results on Tuesday, August 6th. The real estate investment trust reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. The business had revenue of $489.80 million for the quarter, compared to analyst estimates of $505.23 million. Starwood Property Trust had a net margin of 17.05% and a return on equity of 10.03%. The business’s revenue was down 5.0% on a year-over-year basis. During the same period last year, the company posted $0.47 EPS. On average, equities analysts predict that Starwood Property Trust will post 1.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of STWD. Vanguard Group Inc. lifted its stake in Starwood Property Trust by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 28,852,499 shares of the real estate investment trust’s stock worth $606,480,000 after acquiring an additional 72,461 shares in the last quarter. Norges Bank acquired a new stake in shares of Starwood Property Trust during the fourth quarter worth about $62,447,000. Wells Fargo & Company MN boosted its stake in shares of Starwood Property Trust by 2.7% in the fourth quarter. Wells Fargo & Company MN now owns 2,246,265 shares of the real estate investment trust’s stock valued at $47,216,000 after purchasing an additional 58,836 shares during the period. Van ECK Associates Corp grew its holdings in shares of Starwood Property Trust by 9.5% in the first quarter. Van ECK Associates Corp now owns 1,250,425 shares of the real estate investment trust’s stock valued at $25,421,000 after purchasing an additional 108,371 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Starwood Property Trust by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 1,120,227 shares of the real estate investment trust’s stock worth $22,774,000 after buying an additional 27,911 shares during the period. 49.82% of the stock is currently owned by hedge funds and other institutional investors.

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.