Starwood Property Trust: 2Q Earnings Snapshot
GREENWICH, Conn. (AP) _ Starwood Property Trust Inc. (STWD) on Wednesday reported second-quarter net income of $109.2 million.
On a per-share basis, the Greenwich, Connecticut-based company said it had net income of 40 cents. Earnings, adjusted for non-recurring costs and stock option expense, came to 54 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.
The commercial real estate investment trust posted revenue of $269.6 million in the period.
Starwood Property Trust shares have increased 5 percent since the beginning of the year. The stock has climbed nearly 3 percent in the last 12 months.