Starwood Property Trust: 2Q Earnings Snapshot
GREENWICH, Conn. (AP) _ Starwood Property Trust Inc. (STWD) on Wednesday reported second-quarter profit of $139.7 million.
The Greenwich, Connecticut-based company said it had net income of 49 cents per share. Earnings, adjusted for non-recurring gains, came to 43 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.
The commercial real estate investment trust posted revenue of $265.6 million in the period.
Starwood Property Trust shares have declined 40% since the beginning of the year. The stock has dropped 34% in the last 12 months.