Starwood Property Trust Q2 2024 Earnings Report
Key Takeaways
Starwood Property Trust reported a GAAP net income of $77.9 million and Distributable Earnings of $157.8 million for the second quarter of 2024. The company's diversification strategy, with over 40% of assets outside commercial lending, and low leverage ratios contributed to outperformance in a challenging real estate environment. The company declared a dividend of $0.48 per share for the quarter.
GAAP earnings were $0.24 per share, and Distributable Earnings were $0.48 per diluted share.
A dividend of $0.48 per share was paid and another dividend of $0.48 was declared for each of the next two quarters.
Repayments of $0.9 billion were received during the quarter.
The company repriced its $591.0 million Term Loan B, reducing the spread by 50 bps to S+275.
Starwood Property Trust
Starwood Property Trust
Starwood Property Trust Revenue by Segment
Forward Guidance
The Board's confidence in the diversified portfolio allowed them to declare the $0.48 per share quarterly dividend for the remainder of 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income