In a report released today, Timothy P. Hayes from B.Riley FBR reiterated a Buy rating on Starwood Property Trust (STWD), with a price target of $24. The company’s shares closed yesterday at $23.60, close to its 52-week high of $23.74.
Hayes commented:
“We reiterate our Buy rating and $24 PT on Starwood Property Trust (STWD) following strong 2Q19 results that were in line with our estimate (missed due to rounding) and were headlined by several capital transactions that fortified the right side of the balance sheet. Shortly after the end of the quarter, STWD launched its inaugural CRE CLO, an historic $1.1B transaction that was the largest, most issuer friendly deal that priced at the tightest spread of any CRE CLO issued since the recession. STWD also completed its fourth resi non-QM securitization, and closed on a $400M $100M revolver, and a $500M financing facility, all of which enhanced the capital stack and improved the company’s blended cost funds.”
According to TipRanks.com, Hayes is a 4-star analyst with an average return of 5.5% and a 65.2% success rate. Hayes covers the Financial sector, focusing on stocks such as Fidus Investment Corporation, Ready Capital Corporation, and Saratoga Investment Corp.
Currently, the analyst consensus on Starwood Property Trust is a Moderate Buy with an average price target of $24.
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Starwood Property Trust’s market cap is currently $6.61B and has a P/E ratio of 18.22. The company has a Price to Book ratio of 1.43.
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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; Real Estate Property; Infrastructure Lending; and Real Estate Investing and Servicing.
