Starwood Property Trust: 1Q Earnings Snapshot
GREENWICH, Conn. (AP) _ Starwood Property Trust Inc. (STWD) on Monday reported a first-quarter loss of $66.8 million, after reporting a profit in the same period a year earlier.
The Greenwich, Connecticut-based company said it had a loss of 24 cents per share. Earnings, adjusted for one-time gains and costs, came to 55 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
The commercial real estate investment trust posted revenue of $312.6 million in the period.
Starwood Property Trust shares have dropped 49% since the beginning of the year. The stock has decreased 45% in the last 12 months.