JMP Securities Cuts Starwood Property Trust (NYSE:STWD) Price Target to $23.00

Starwood Property Trust (NYSE:STWD) had its price target reduced by JMP Securities from $24.00 to $23.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “market outperform” rating on the real estate investment trust’s stock. JMP Securities’ price target would suggest a potential upside of 17.89% from the stock’s previous close.

Several other brokerages also recently commented on STWD. JPMorgan Chase & Co. increased their price target on Starwood Property Trust from $20.00 to $20.50 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Keefe, Bruyette & Woods upgraded Starwood Property Trust from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $20.50 to $22.50 in a report on Thursday, September 5th. BTIG Research restated a “buy” rating and set a $24.00 price objective on shares of Starwood Property Trust in a report on Friday, July 19th. Finally, Wells Fargo & Company increased their target price on shares of Starwood Property Trust from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $22.38.

Starwood Property Trust Stock Performance

Shares of NYSE STWD traded up $0.11 during midday trading on Thursday, hitting $19.51. The company’s stock had a trading volume of 1,221,333 shares, compared to its average volume of 2,306,043. The firm’s fifty day moving average price is $20.13 and its 200-day moving average price is $19.78. The firm has a market cap of $6.18 billion, a P/E ratio of 17.95 and a beta of 1.70. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.84 and a current ratio of 1.84. Starwood Property Trust has a 1-year low of $18.42 and a 1-year high of $22.29.

Starwood Property Trust (NYSE:STWD) last issued its earnings results on Tuesday, August 6th. The real estate investment trust reported $0.48 EPS for the quarter, topping the consensus estimate of $0.44 by $0.04. The business had revenue of $489.80 million during the quarter, compared to analysts’ expectations of $505.23 million. Starwood Property Trust had a return on equity of 10.03% and a net margin of 17.05%. Starwood Property Trust’s revenue was down 5.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.47 earnings per share. On average, sell-side analysts forecast that Starwood Property Trust will post 1.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Artemis Investment Management LLP acquired a new position in shares of Starwood Property Trust in the 3rd quarter worth approximately $9,580,000. International Assets Investment Management LLC raised its position in Starwood Property Trust by 2,414.3% in the 3rd quarter. International Assets Investment Management LLC now owns 476,586 shares of the real estate investment trust’s stock valued at $9,713,000 after purchasing an additional 457,631 shares during the last quarter. Lighthouse Investment Partners LLC acquired a new position in Starwood Property Trust in the second quarter worth $5,455,000. Van ECK Associates Corp grew its holdings in shares of Starwood Property Trust by 27.1% during the third quarter. Van ECK Associates Corp now owns 1,313,824 shares of the real estate investment trust’s stock worth $26,106,000 after purchasing an additional 279,793 shares during the last quarter. Finally, Valley Wealth Managers Inc. increased its stake in shares of Starwood Property Trust by 30.3% in the third quarter. Valley Wealth Managers Inc. now owns 1,026,455 shares of the real estate investment trust’s stock valued at $20,919,000 after buying an additional 238,994 shares in the last quarter. 49.82% of the stock is currently owned by institutional investors and hedge funds.

About Starwood Property Trust

Starwood Property Trust, Inc operates as a real estate investment trust (REIT) in the United States and internationally. The company operates through Commercial and Residential Lending, Infrastructure Lending, Property, and Investing and Servicing segments. The Commercial and Residential Lending segment originates, acquires, finances, and manages commercial first mortgages, non-agency residential mortgages, subordinated mortgages, mezzanine loans, preferred equity, commercial mortgage-backed securities (CMBS), and residential mortgage-backed securities, as well as other real estate and real estate-related debt investments, include distressed or non-performing loans.