Spire Wealth Management Acquires 840 Shares of Starwood Property Trust, Inc. (NYSE:STWD)

Posted by Defense World Staff on Aug 26th, 2023

Spire Wealth Management lifted its holdings in shares of Starwood Property Trust, Inc. (NYSE:STWD – Free Report) by 84.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,840 shares of the real estate investment trust’s stock after acquiring an additional 840 shares during the quarter. Spire Wealth Management’s holdings in Starwood Property Trust were worth $33,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Salem Investment Counselors Inc. raised its holdings in shares of Starwood Property Trust by 50.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 1,500 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 500 shares in the last quarter. Raymond James Trust N.A. raised its holdings in shares of Starwood Property Trust by 4.1% during the first quarter. Raymond James Trust N.A. now owns 12,803 shares of the real estate investment trust’s stock valued at $309,000 after acquiring an additional 500 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Starwood Property Trust by 5.8% during the fourth quarter. AQR Capital Management LLC now owns 10,661 shares of the real estate investment trust’s stock valued at $195,000 after acquiring an additional 584 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Starwood Property Trust by 1.3% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 48,273 shares of the real estate investment trust’s stock worth $885,000 after purchasing an additional 617 shares during the period. Finally, Gabelli Funds LLC grew its stake in Starwood Property Trust by 3.3% in the fourth quarter. Gabelli Funds LLC now owns 20,650 shares of the real estate investment trust’s stock worth $379,000 after purchasing an additional 650 shares during the period. Institutional investors own 50.43% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on STWD. StockNews.com began coverage on Starwood Property Trust in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. BTIG Research upped their price target on Starwood Property Trust from $19.00 to $21.00 in a research note on Friday, June 30th. JMP Securities reduced their price target on Starwood Property Trust from $26.00 to $24.00 and set a “market outperform” rating on the stock in a research note on Friday, July 14th. Finally, JPMorgan Chase & Co. upped their price target on Starwood Property Trust from $18.50 to $21.50 in a research note on Monday, July 24th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.42.

View Our Latest Stock Report on STWD

Starwood Property Trust Trading Up 0.2 %

NYSE STWD opened at $19.71 on Friday. The stock has a market cap of $6.16 billion, a P/E ratio of 11.26 and a beta of 1.59. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 2.98. Starwood Property Trust, Inc. has a 12 month low of $16.06 and a 12 month high of $23.97. The stock’s fifty day moving average price is $20.01 and its 200-day moving average price is $18.75.

Starwood Property Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.74%. The ex-dividend date of this dividend was Thursday, June 29th. Starwood Property Trust’s payout ratio is currently 109.71%.

About Starwood Property Trust

(Free Report)

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.