Starwood Property Trust announces fiscal quarter results

Commercial mortgage spreads increase in Canada

Starwood Property Trust, Inc. announced operating results for the fiscal quarter and year ended December 31, 2018. 

– Quarterly GAAP Earnings of $0.33 and Core Earnings of $0.54 per Diluted Common Share
– Record Capital Deployed of $11.6 Billion in 2018, Up 58% Versus 2017 –
– Record Capital Deployed in Commercial Lending of $6.0 Billion in 2018, Up 43% Versus 2017 –
– Declares Dividend of $0.48 per share for the First Quarter of 2019 –

The Company’s fourth quarter 2018 GAAP net income was $92.1 million, or $0.33 per diluted share, and $385.8 million, or $1.42 per diluted share, for the full year. 

Core Earnings (a non-GAAP financial measure) for the fourth quarter was $155.4 million, or $0.54 per diluted share and $608.1 million, or $2.19 per diluted share, for the full year.

“As we approach our ten year anniversary as a public company, we are proud to have created a generational enterprise, with multiple business lines, allowing us to achieve best in class returns. We could achieve higher returns through increased leverage but have instead chosen a more conservative strategy,” commented Barry Sternlicht, Chairman and CEO of Starwood Property Trust.

“Our platform delivered outstanding results in 2018, led by record origination volumes in our commercial lending segment and a property segment which produces double digit cash returns. We are well positioned to capitalize on our robust investment pipeline with ample liquidity and available credit capacity and the significant unrealized gains in our property book.”

On February 28, 2019, the Company’s Board of Directors declared a dividend of $0.48 per share of common stock for the quarter ending March 31, 2019. The dividend is payable on April 15, 2019 to common stockholders of record as of March 29, 2019.

SEE ALSO :Starwood Capital Group sells a hotel in Miami for $610 million