Starwood Property Trust
Originates and manages property and infrastructure debt alongside real estate and servicing businesses.
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Profile
Generates income by originating, acquiring, financing, and managing mortgage, infrastructure, and other real-estate investments. Its four segments combine lending, owned property, and investing-and-servicing activities under an external manager affiliated with Starwood Capital.
Originates, acquires, finances, and manages mortgage loans and other real-estate investments across the United States, Europe, and Australia. Commercial and Residential Lending is joined by Infrastructure Lending, giving the platform debt businesses in property and infrastructure.
The Property segment holds owned real-estate investments, while Investing and Servicing includes special servicing and investing activities. The platform was built by expanding from commercial lending into property, residential lending, infrastructure debt, and servicing.
An external manager affiliated with Starwood Capital advises the company. Credit and market conditions, interest rates, financing availability, REIT qualification, and Investment Company Act exemptions shape its operating model.
Company facts
Categories
Key statistics
Year to date −14.2% · Average volume (30d) 4.2M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 17, 2026 | Wells Fargo | Target | $24 | $20 | ||
| Jun 2, 2026 | UBS | Upgrade | Neutral | Buy | $20 | |
| Mar 6, 2026 | Credit Suisse | Target | $19 | |||
| Mar 6, 2026 | Morgan Stanley | Target | $19 | |||
| Sep 5, 2024 | Keefe, Bruyette & Woods | Upgrade | Market Perform | Outperform |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | $0.40 | $0.40 | 0.0% | $521.7M | $513.7M | −1.5% | −1.73% |
| May 8, 2026Q1 FY26 | $0.42 | $0.39 | −7.1% | $496.3M | $512.5M | +3.3% | −2.93% |
| Feb 25, 2026Q4 FY25 | $0.41 | $0.42 | +2.4% | $503.2M | $492.9M | −2.0% | +2.14% |
| Nov 10, 2025Q3 FY25 | $0.45 | $0.40 | −11.1% | $469.5M | $489.9M | +4.3% | +1.01% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $418.2M | $475.9M | $489.9M | $506.2M | $513.1M | $513.7M | |
| Gross profit | $337.8M | $408.0M | $389.1M | $388.9M | $386.0M | $387.5M | |
| Operating income | $345.4M | $292.9M | $397.3M | $407.3M | $346.2M | $334.5M | |
| Net income | $112.3M | $129.8M | $72.6M | $96.9M | $51.9M | $6.6M | |
| Diluted EPS | $0.33 | $0.38 | $0.22 | $0.30 | $0.15 | $0.01 | |
| Gross margin | 80.8% | 85.7% | 79.4% | 76.8% | 75.2% | 75.4% | |
| Operating margin | 82.6% | 61.5% | 81.1% | 80.5% | 67.5% | 65.1% |
Fiscal years (4-quarter sums)FY21 $1.19B · FY22 $1.52B · FY23 $2.06B · FY24 $2.04B · FY25 $1.89B
Revenue by product · Q2 FY26
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $452.4M · Total debt $23.69B · Total assets $61.05B · Shareholders' equity $6.50B
Dividends
Raised for 15 straight years. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 30, 2026 | Jun 30 | Jul 15 | $0.48 | |
| Mar 31, 2026 | Mar 31 | Apr 15 | $0.48 | |
| Dec 31, 2025 | Dec 31 | Jan 15 | $0.48 | |
| Sep 30, 2025 | Sep 30 | Oct 15 | $0.48 | |
| Jun 30, 2025 | Jun 30 | Jul 15 | $0.48 | |
| Mar 31, 2025 | Mar 31 | Apr 15 | $0.48 | |
| Dec 31, 2024 | Dec 31 | Jan 15 | $0.48 | |
| Sep 30, 2024 | Sep 30 | Oct 15 | $0.48 |
Ownership
Shares outstanding 370.75M · Float 352.74M · 95.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 35.98M | 9.70% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 15.78M | 4.26% | 13F | Aug 13, 2026 |
| Vanguard Portfolio Management LLC | 15.03M | 4.05% | 13F | Aug 13, 2026 |
| State Street Corp | 11.90M | 3.21% | 13F | Aug 7, 2026 |
| Morgan Stanley | 8.79M | 2.37% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Apr 1, 2026 | Jeffrey G. Dishner | director | −7,013 | $17.13 |
Peers
- Blackstone Mortgage Trust
Commercial real-estate debt platform with global senior-loan reach
- Ladder Capital
Middle-market commercial mortgage, securities and property platform
- KKR Real Estate Finance Trust
Institutional CRE lender specializing in transitional senior loans
- Arbor Realty Trust
Multifamily bridge lender and agency-loan originator and servicer
- HASI
Sustainable-infrastructure investor providing debt and equity capital
- Ares Management
Alternative-investment platform originating real-estate and infrastructure debt
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Starwood Property Trust | $15.85 | +0.27% | $5.86B | 23.2 | 9.4 | 2.9 | +7.9% |
| Blackstone Mortgage Trust | $13.75 | +0.18% | $2.31B | 171.6 | 10.9 | 1.5 | +18.1% |
| Ladder Capital | $9.82 | +0.10% | $1.25B | 23.4 | 9.0 | 3.3 | −40.9% |
| KKR Real Estate Finance Trust | $7.59 | +0.20% | $488.0M | — | — | 1.2 | −82.3% |
| Arbor Realty Trust | $5.06 | 0.00% | $973.3M | 37.4 | 12.0 | 0.8 | −11.1% |
| HASI | $40.00 | −0.02% | $5.11B | 75.5 | 12.9 | 11.0 | +41.0% |
| Ares Management | $142.53 | +0.04% | $46.81B | 59.1 | 21.9 | 7.3 | +5.8% |
| Median | 59.1 | 12.0 | 2.4 | −2.7% |