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Mar 31
Starwood Property Trust Q1 2025 Earnings Report
Starwood Property Trust reported solid first quarter results with strong earnings and continued investment activity.
Key Takeaways
The company achieved GAAP net income of $112.3 million and adjusted EPS of $0.45. It invested $2.3 billion during the quarter, primarily in commercial and infrastructure lending, and maintained strong liquidity of $1.5 billion.
Reported GAAP EPS of $0.33 and adjusted EPS of $0.45.
Recorded $112.3 million in GAAP net income and $156.3 million in Distributable Earnings.
Invested $2.3 billion, including $1.4 billion in commercial lending and $0.7 billion in infrastructure lending.
Maintained liquidity of $1.5 billion and paid a quarterly dividend of $0.48 per share.
Starwood Property Trust
Starwood Property Trust
Starwood Property Trust Revenue by Segment
Revenue by Segment
Commercial and Residential Lending Revenue
CapyFin.comInfrastructure Lending Revenue
CapyFin.comProperty Revenue
CapyFin.comInvesting and Servicing Revenue
CapyFin.com Forward Guidance
Management expects continued growth driven by strong origination pipelines and access to capital markets, despite current market dislocations.
Positive Outlook
- Active pipeline across all business lines.
- Commercial originations YTD exceed total from previous year.
- Record infrastructure lending activity during the quarter.
- Strong capital market access with $18 billion raised since IPO.
- High levels of liquidity and unencumbered assets for future flexibility.
Challenges Ahead
- Dislocation in securitized markets poses near-term risk.
- Continued market volatility could impact investment timing.
- No corporate debt maturities for over a year may defer refinancing opportunities.
- Reliance on external manager for certain adjustments to DE.
- Exposure to foreign currency and derivatives introduces earnings variability.