December 9, 2020
Starwood Property Trust, Inc. (NYSE: STWD) ("the Company") today announced that the Company's Board of Directors has declared a dividend of $0.48 per share of common stock for the quarter ending December 31, 2020. The dividend is payable on January 15, 2021 to stockholders of record as of December 31, 2020. About Starwood Property Trust, Inc . Starwood Property Trust (NYSE: STWD), is a leading diversified finance company with a core focus on the real estate and infrastructure sectors. An affiliate of global private investment firm Starwood Capital Group, the Company has successfully deployed over $65 billion of capital since inception and manages a portfolio of over $17 billion across debt and equity investments. Starwood Property Trust's investment objective is to generate attractive and stable returns for shareholders, primarily through dividends, by leveraging a premiere global organization to identify and execute on the best risk adjusted returning investments across its target
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December 7, 2020
As the first 'Class A' office building of its kind in Miami Beach, the world-class project celebrates a major project milestone Starwood Property Trust (NYSE: STWD), an affiliate of Starwood Capital Group ("Starwood Capital"), a global private investment firm focused on real estate and energy investments, and developer partner Integra Investments , the Miami-based real estate investment and development company, announced today that construction for 2340 Collins Avenue in Miami Beach has topped off. Upon anticipated completion in late 2021, the 144,430-square-foot, 'Class A' office building will serve as Starwood Property Trust's corporate headquarters, where the firm will occupy approximately 55-percent of the square footage in the six-story east building and part of the west building. The building's remaining space, which approaching full occupancy, will be leased to third party tenants with a focus on family offices. It will be ringed by greenery and feature an array of outdoor
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November 5, 2020
- Quarterly GAAP Earnings of $0.52 and Core Earnings of $0.50 per Diluted Share -
- Originated or Acquired $1.5 Billion of Assets -
- Paid Third Quarter Dividend of $0.48 per Share -
- Subsequent to Quarter End, Issued $550 Million of Corporate Debt - Starwood Property Trust, Inc. (NYSE: STWD) today announced operating results for the fiscal quarter ended September 30, 2020. The Company's third quarter 2020 GAAP net income was $151.8 million, or $0.52 per diluted share, and Core Earnings (a non-GAAP financial measure) was $148.6 million, or $0.50 per diluted share. "We shifted from a cautious stance in the second quarter and deployed $1.5 billion in the third quarter, taking advantage of the most compelling risk adjusted returns presented across our various business lines. We also proactively addressed the near-term maturity of our $500 million February 2021 notes by successfully completing two successful debt raises, including issuing our first ever sustainability
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October 19, 2020
Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced that it has priced its private offering of $300 million aggregate principal amount of its 5.50% unsecured senior notes due 2023 (the "Notes"). The Notes priced at 100.00% of the principal amount and the settlement of the offering is expected to occur on November 2, 2020, subject to customary closing conditions. The Company intends to allocate an amount equal to the net proceeds from the offering to finance or refinance, in whole or in part, recently completed or future eligible green and/or social projects. Eligible green and/or social projects are projects that meet specified eligibility criteria in alignment with the four core pillars of the Green Bond Principles, 2018, Social Bond Principles, 2020 and Sustainability Bond Guidelines, 2018, and include investments in, financings of and/or acquisitions of one or more of the following: (i) renewable energy, (ii) green buildings and (iii) affordable housing. Net
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October 19, 2020
Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced that it is offering $300 million aggregate principal amount of its unsecured senior notes due 2023 (the "Notes") in a private offering. The Company intends to allocate an amount equal to the net proceeds from the offering to finance or refinance, in whole or in part, recently completed or future eligible green and/or social projects. Eligible green and/or social projects are projects that meet specified eligibility criteria in alignment with the four core pillars of the Green Bond Principles, 2018, Social Bond Principles, 2020 and Sustainability Bond Guidelines, 2018, and include investments in, financings of and/or acquisitions of one or more of the following: (i) renewable energy, (ii) green buildings and (iii) affordable housing. Net proceeds allocated to previously incurred costs associated with Eligible Green and/or Social Projects will be available for the repayment of indebtedness previously incurred.
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October 8, 2020
Starwood Property Trust (NYSE: STWD) today announced that the Company will release its third quarter 2020 financial results on Thursday, November 5, 2020 before the opening of trading on the New York Stock Exchange. A conference call will be held on Thursday, November 5, 2020 at 10:00 a.m. Eastern Time. During the conference call, the Company's officers will review third quarter performance, discuss recent events and conduct a question-and-answer period. Webcast The conference call will also be available in the Investor Relations section of the Company's website at www.starwoodpropertytrust.com . To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register and install any necessary audio software. A replay of the call will also be available for 90 days on the Company's website. To Participate in the Telephone Conference Call: Dial in at least five minutes prior to start time.
Domestic: 1-877-407-9039
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September 21, 2020
Starwood Property Trust, Inc. (NYSE: STWD) ("the Company") today announced that Starwood Property Mortgage LLC ("SPM"), a wholly owned subsidiary of the Company, has priced a $250 million term loan ("Term Loan B"). The Term Loan B priced at L+350, matures in July 2026 (coterminous with SPM's existing $400 million term loan B), and is callable at any time. "We are very pleased to have further diversified our balance sheet and extend our debt maturities. We will use the proceeds from the Term Loan B to repay a portion of our $500 million February 2021 senior notes when they open for repayment at par on November 1, 2020. We have ample liquidly today to pay off the remainder of the February 2021 notes, and as we have in the past, will opportunistically look to access the vastly improved debt markets to either accretively make new investments or reduce future debt maturities ," stated Andrew Sossen, Chief Operating Officer of Starwood Property Trust. About Starwood Property Trust, Inc .
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September 16, 2020
Starwood Property Trust, Inc. (NYSE: STWD) ("the Company") today announced that the Company's Board of Directors has declared a dividend of $0.48 per share of common stock for the quarter ending September 30, 2020. The dividend is payable on October 15, 2020 to stockholders of record as of September 30, 2020. About Starwood Property Trust, Inc . Starwood Property Trust (NYSE: STWD), is a leading diversified finance company with a core focus on the real estate and infrastructure sectors. An affiliate of global private investment firm Starwood Capital Group, the Company has successfully deployed over $63 billion of capital since inception and manages a portfolio of over $17 billion across debt and equity investments. Starwood Property Trust's investment objective is to generate attractive and stable returns for shareholders, primarily through dividends, by leveraging a premiere global organization to identify and execute on the best risk adjusted returning investments across its target
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August 20, 2020
- Increases Independent Board Members to Six - Starwood Property Trust, Inc. (NYSE: STWD) ("the Company") today announced that the Company has appointed Fred Perpall as an independent director to its Board of Directors. Mr. Perpall will stand for election to the Board at the 2021 annual meeting of shareholders. With the addition of Mr. Perpall, the Board expands to eight members, six of whom are independent. "We continue to work to expand our Board commensurate with the growth of Starwood's platform, and we remain committed to strong governance and most importantly, to independent and diverse perspectives. Fred brings deep leadership experience as well as real estate acumen, and we will benefit greatly with his addition to our Board," commented Barry Sternlicht, Chairman and CEO of Starwood Property Trust. "In order to ensure our leadership is most effective, we are committed to adding high caliber individuals to serve on our Board. Our Board and executive team will benefit from
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August 5, 2020
- Received 7th Consecutive NAREIT Gold Award for Investor Communications and Reporting Excellence -
- Paid Dividend of $0.48 per share for the Second Quarter of 2020 - Starwood Property Trust, Inc. (NYSE: STWD) today announced operating results for the fiscal quarter ended June 30, 2020. The Company's second quarter 2020 GAAP net income was $139.7 million, or $0.49 per diluted share, and Core Earnings (a non-GAAP financial measure) was $126.1 million, or $0.43 per diluted share. "It is a difficult time to figure out the right balance between playing offense and defense as this Category 5 hurricane that we call the Coronavirus sweeps through the U.S. and the global economies. Since March, we have erred on the side of caution and are only making occasional investments that we find decidedly compelling. From the outset of this pandemic, our strategy has been to solidify our fortress balance sheet. We now sit with over $800 million of cash and approved, undrawn debt capacity,
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July 13, 2020
Starwood Property Trust (NYSE: STWD) today announced that the Company will release its second quarter 2020 financial results on Wednesday, August 5, 2020 before the opening of trading on the New York Stock Exchange. A conference call will be held on Wednesday, August 5, 2020 at 10:00 a.m. Eastern Time. During the conference call, the Company's officers will review second quarter performance, discuss recent events and conduct a question-and-answer period. Webcast The conference call will also be available in the Investor Relations section of the Company's website at www.starwoodpropertytrust.com . To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register and install any necessary audio software. A replay of the call will also be available for 90 days on the Company's website. To Participate in the Telephone Conference Call: Dial in at least five minutes prior to start time.
Domestic: 1-877-407-9039
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June 16, 2020
Starwood Property Trust, Inc. (NYSE: STWD) ("the Company") today announced that the Company's Board of Directors has declared a dividend of $0.48 per share of common stock for the quarter ending June 30, 2020. The dividend is payable on July 15, 2020 to stockholders of record as of June 30, 2020. About Starwood Property Trust, Inc . Starwood Property Trust (NYSE: STWD), is a leading diversified finance company with a core focus on the real estate and infrastructure sectors. An affiliate of global private investment firm Starwood Capital Group, the Company has successfully deployed over $63 billion of capital since inception and manages a portfolio of over $17 billion across debt and equity investments. Starwood Property Trust's investment objective is to generate attractive and stable returns for shareholders, primarily through dividends, by leveraging a premiere global organization to identify and execute on the best risk adjusted returning investments across its target assets.
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June 3, 2020
- Recognizes Investor Communications and Reporting Excellence -
- STWD is the Only Commercial Mortgage REIT to Receive Award - Starwood Property Trust, Inc. (NYSE: STWD) ("the Company") today announced that the Company has received the 2020 NAREIT Gold Investor Award, which recognizes communications and reporting excellence, for the mortgage REIT category. For the seventh consecutive year, Starwood Property Trust is the only commercial mortgage REIT to earn this prestigious honor. The award will be presented as part of REITWeek, NAREIT's 2020 Investor Conference, to be held in a virtual format on June 2-4, 2020. "We are once again honored to receive this recognition from NAREIT, reflecting our continued efforts to provide best-in-class disclosure, transparency, and accessibility to all of our stakeholders. With continued dislocation in the financial markets we believe that our commitment to strong external communication is more important than ever. We firmly believe that this
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May 4, 2020
Starwood Property Trust, Inc. (NYSE: STWD) today announced operating results for the fiscal quarter ended March 31, 2020. The Company had a first quarter 2020 GAAP net loss of $66.8 million, or $(0.24) per diluted share, and Core Earnings of $162.1 million, or $0.55 per diluted share. GAAP net loss includes the unrealized, non-cash impacts of mark-to-market adjustments and the recently implemented CECL accounting standard, totaling $148.6 million ($0.53 per diluted share) and $48.7 million ($0.17 per diluted share), respectively, both of which reflect the market volatility and dislocation caused by the COVID-19 pandemic. "Starwood Property Trust has one of the strongest balance sheets in the commercial mortgage REIT industry, with over $870 million in cash and approved undrawn capacity, and well over $1.0 billion of additional liquidity available to us if ever needed. Our powerful balance sheet is bolstered by our diversified platform, anchored by our real estate equity book and
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April 30, 2020
Starwood Property Trust (NYSE: STWD) today announced that the Company has accelerated the timing for its first quarter 2020 earnings release and conference call. The Company will now release its first quarter financial results on Monday, May 4, 2020 before the opening of trading on the New York Stock Exchange, instead of the previously announced date of Thursday, May 7. A conference call will be held on Monday, May 4, 2020 at 8:30 a.m. Eastern Time. During the call, the Company's officers will review first quarter performance, discuss recent events and conduct a question-and-answer period. Webcast The Company encourages use of the webcast due to potential extended wait times to access the conference call via dial-in. The webcast link will be available in the Investor Relations section of the Company's website at www.starwoodpropertytrust.com. To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download and install
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April 14, 2020
Starwood Property Trust (NYSE: STWD) today announced that the Company will release its first quarter 2020 financial results on Thursday, May 7, 2020 before the opening of trading on the New York Stock Exchange. A conference call will be held on Thursday, May 7, 2020 at 10:00 a.m. Eastern Time. During the conference call, the Company's officers will review first quarter performance, discuss recent events and conduct a question-and-answer period. Webcast The conference call will also be available in the Investor Relations section of the Company's website at www.starwoodpropertytrust.com . To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download and install any necessary audio software. A replay of the call will also be available for 90 days on the Company's website. To Participate in the Telephone Conference Call: Dial in at least five minutes prior to start time. Domestic: 1-877-407-9039 International:
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March 27, 2020
- Confirms $0.48 Per Share Q1 Cash Dividend Payable on April 15, 2020 - Starwood Property Trust, Inc. (NYSE: STWD) today issued an open letter to stockholders. The text follows: Dear Starwood Shareholder, We hope this letter finds you and your families safe and in good health. We wanted to provide an update on the state of Starwood Property Trust (STWD) a few weeks into this rapidly unfolding health crisis. The Company's Board of Directors declared a cash dividend of $0.48 per share of common stock for the quarter ending March 31, 2020 that is payable on April 15, 2020 to common stockholders of record as of March 31, 2020. We are confirming today that we will pay this dividend in cash as scheduled. Beginning with our IPO in 2009, we set out to build a diversified finance company that would provide safe and stable returns through all market cycles. We have financing lines with over 20 different counterparties with a weighted average maturity in excess of 5 years. We also have over
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March 16, 2020
- Receives Repayment on 424 Fifth Avenue Loan - Starwood Property Trust, Inc. (NYSE: STWD) today announced that the Company recently received the full repayment of its $379 million commitment in the construction loan for 424 Fifth Avenue, the former Lord & Taylor Building. The building was acquired by Amazon. "This repayment enhances our already strong liquidity position which totals $885 million of cash and approved but undrawn financing lines, which we can combine with over $8 billion of available financing sources to fund investments. Given the recent extraordinary volatility in the markets, we're exercising appropriate caution in regards to new investments. Our equity investments are largely in affordable apartments and we expect them to remain a very strong cash flow generator unaffected by this uncertainty. We believe our strong balance sheet will support us as we navigate current market conditions," commented Barry Sternlicht, Chairman and CEO of Starwood Property Trust.
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March 11, 2020
Starwood Property Trust, Inc. (NYSE: STWD) today announced that its Board of Directors has authorized the repurchase of up to $400 million of its outstanding common shares and convertible notes over a period of one year. The share repurchase program will be funded through the Company's existing cash. "We have opportunistically supported our stock price by buying shares in the open market when circumstances, that we feel have little long-term impact on our enterprise, cause our shares to decline both relative to our intrinsic value and to our dividend yield. Today our yield is greater than 11x the U.S. 10-Year Treasury yield for the first time in our history and compared to a long-term average of 4x. Our stock may from time to time represent a very attractive use of available cash," commented Barry Sternlicht, Chairman and CEO of Starwood Property Trust. Purchases made pursuant to the program will be made either in the open market or in privately negotiated transactions from time to
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February 25, 2020
- Originated or Acquired a Record $4.2 Billion of Assets ($10.8 Billion in 2019), Including a Record $2.2 Billion in Commercial Lending ($5.5 Billion in 2019) -
- Completed Sale of Owned Ireland Property Portfolio -
- Enhanced Capital Structure with $1.8 Billion of New and Expanded Credit Facilities -
- Completed Refinancings of two Property Portfolios -
- Declares Dividend of $0.48 per share for the First Quarter of 2020 - Starwood Property Trust, Inc. (NYSE: STWD) today announced operating results for the fiscal quarter and year ended December 31, 2019. The Company's fourth quarter 2019 GAAP net income was $171.9 million, or $0.60 per diluted share, and Core Earnings (a non-GAAP financial measure) was $139.5 million, or $0.47 per diluted share. These amounts include a gain on sale of the Company's Ireland property portfolio of $119.7 million and $60.1 million for GAAP and Core Earnings, respectively, or $0.41 and $0.20 per diluted share, respectively, and
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January 28, 2020
Starwood Property Trust, Inc. (NYSE: STWD) ("the Company") today announced updated tax treatment for the Company's distributions on its common stock (CUSIP: 85571B105) paid with respect to the calendar year ended December 31, 2019: Form 1099 Reference: (Boxes 1a + 2a + 3) Box 1a Box 1b Box 2a Box 2b Box 3 Box 5 Record Date Payable Date Total Distribution Per Share Ordinary Taxable Dividend Taxable Qualified Dividends (1) Total Capital Gain Distribution Unrecaptured 1250 Gain (2) Nondividend Distributions (3) Section 199A dividends (4) 12/31/2018 1/15/2019 0.3180 0.2082 0.0137 0.1098 0.0264 0.0000 0.1945 3/29/2019 4/15/2019 0.4800 0.3142 0.0206 0.1658 0.0398 0.0000 0.2936 6/28/2019 7/15/2019 0.4800 0.3142 0.0206 0.1658 0.0398 0.0000 0.2936 9/30/2019 10/15/2019 0.4800 0.3142 0.0206 0.1658 0.0398 0.0000 0.2936 12/31/2019* 1/15/2020 0.0079
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January 28, 2020
Starwood Property Trust (NYSE: STWD) today announced that the Company will release its fourth quarter 2019 financial results on Tuesday, February 25, 2020 before the opening of trading on the New York Stock Exchange. A conference call will be held on Tuesday, February 25, 2020 at 10:00 a.m. Eastern Time. During the conference call, the Company's officers will review fourth quarter performance, discuss recent events and conduct a question-and-answer period. Webcast The conference call will also be available in the Investor Relations section of the Company's website at www.starwoodpropertytrust.com . To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download and install any necessary audio software. A replay of the call will also be available for 90 days on the Company's website. To Participate in the Telephone Conference Call: Dial in at least five minutes prior to start time. Domestic: 1-877-407-9039
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January 27, 2020
Starwood Property Trust, Inc. (NYSE: STWD) ("the Company") today announced the tax treatment for the Company's distributions on its common stock (CUSIP: 85571B105) paid with respect to the calendar year ended December 31, 2019: Form 1099 Reference: (Boxes 1a + 2a + 3) Box 1a Box 1b Box 2a Box 2b Box 3 Box 5 Record Date Payable Date Total Distribution Per Share Ordinary Taxable Dividend Taxable Qualified Dividends (1) Total Capital Gain Distribution Unrecaptured 1250 Gain (2) Nondividend Distributions (3) Section 199A dividends (4) 12/31/2018 1/15/2019 0.2880 0.1885 0.0124 0.0995 0.0239 0.0000 0.1761 3/29/2019 4/15/2019 0.4800 0.3142 0.0206 0.1658 0.0398 0.0000 0.2936 6/28/2019 7/15/2019 0.4800 0.3142 0.0206 0.1658 0.0398 0.0000 0.2936 9/30/2019 10/15/2019 0.4800 0.3142 0.0206 0.1658 0.0398 0.0000 0.2936 12/31/2019* 1/15/2020 0.0372 0.0243 0.0016 0.0129 0.0031 0.0000 0.0227
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