文章核心观点 - 过去两年来,商业抵押贷款房地产投资信托基金(commercial mortgage REITs)面临着利率上升的挑战 [1] - 利率上升会以多种方式影响mREIT的表现 [1] 利率上升对mREIT的影响 - 利率上升会降低mREIT持有的抵押贷款证券的价值 [1] - 利率上升会增加mREIT再融资的成本 [1] - 利率上升会降低mREIT的资产收益率 [1]

GREENWICH, Conn., Oct. 8, 2024 /PRNewswire/ -- Starwood Property Trust (NYSE: STWD) today announced that the Company will release its third quarter 2024 financial results on Wednesday, November 6, 2024 before the opening of trading on the New York Stock Exchange. A conference call will be held on Wednesday, November 6, 2024 at 10:00 a.m. Eastern Time. During the conference call, the Company's officers will review third quarter performance, discuss recent events and conduct a question-and-answer period. Webc ...

Targeting U.S. markets rich in natural experiences—such as national parks, mountains, and ski towns—Field & Stream Lodge Co. is perfectly positioned in Bozeman. Located just one mile from downtown and two hours from Yellowstone National Park, the property offers breathtaking mountain views and thoughtfully designed indoor and outdoor spaces. Surrounded by three rivers, four mountain ranges, and two ski resorts, it serves as a year-round destination for hiking, biking, fly fishing, and skiing. "We are thrill ...

GREENWICH, Conn., Sept. 26, 2024 /PRNewswire/ -- Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced that it has priced its private offering of $400 million aggregate principal amount of its 6.000% unsecured senior notes due 2030 (the "Notes"). The Notes priced at 100.0% of the principal amount and the settlement of the offering is expected to occur on October 10, 2024, subject to customary closing conditions. The Company intends to allocate an amount equal to the net proceeds from th ...

PM Images I have been a shareholder in Starwood Property Trust (NYSE:STWD) since the end of 2016, and it's been an income investor's dream. No matter what has happened in the global economy, STWD has produced a quarterly dividend of $0.48 like clockwork. Over the past decade, shares of STWD have declined by -13.41% or -$2.59, but shareholders have collected $19.20 in dividend income without considering the power of compounding interest for those who reinvested the dividends. Despite navigating recessions, a ...

GREENWICH, Conn., Sept. 5, 2024 /PRNewswire/ -- Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced that the underwriters for the Company's recently completed public offering of 17,500,000 shares of its common stock have fully exercised their option to purchase an additional 2,625,000 shares. After giving effect to the full exercise of the option, the aggregate net proceeds of the offering of the 20,125,000 shares of common stock will be approximately $391.7 million after deducting th ...

GREENWICH, Conn., Sept. 3, 2024 /PRNewswire/ -- Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced the pricing of an underwritten public offering of 17,500,000 shares of its common stock for total estimated gross proceeds of approximately $345.1 million (or approximately $396.9 million if the option to purchase additional shares is exercised in full). The underwriters have a 30-day option to purchase up to an additional 2,625,000 shares from the Company. Settlement of the offering is ...

GREENWICH, Conn., Sept. 3, 2024 /PRNewswire/ -- Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced that, subject to market and other conditions, it is offering 17,500,000 shares of its common stock in an underwritten public offering. The underwriters will have a 30-day option from the date of the offering to purchase up to an additional 2,625,000 shares from the Company. All of the shares will be issued under the Company's currently effective shelf registration statement filed with t ...

文章核心观点 - 公司的投资组合较为多元化,对美国办公楼的投资比重较低,这是公司的两大优势 [2] - 美联储有望在下半年降息,这可能缓解美国办公楼市场的压力 [2] - 公司的9%收益率仍值得投资者关注 [2] 公司投资组合 - 公司的投资组合包括贷款(商业、住宅和基础设施)以及其他商业房地产投资,主要为自有物业 [4] - 贷款资产占公司投资的77%,公司总资产达260亿美元 [4][5] - 美国办公楼仅占公司总资产的10% [5] 财务表现 - 公司二季度可分配收益有所下降,主要是由于计提了更多的信用损失准备 [6] - 但公司仍能完全覆盖其0.48美元/股的季度股息 [6][8] - 公司主要的贷款资产中,97%的第一抵押贷款正常履约 [8][9] 股息指标 - 公司二季度的股息支付率上升至100%,较去年同期高出约10个百分点 [10] - 尽管股息支付率大幅上升,但公司仍然宣布了每季度0.48美元的股息 [10] - 这可能是为了应对贝莱德抵押信托(BXMT)最近调低股息的举动 [10] 估值 - 公司目前的溢价估值(1.03倍账面价值)高于同行,这是由于其他同行被认为投资组合较弱或缺乏多元化 [11] - 相比之下,贝莱德抵押信托和阿波罗商业房地产金融公司的股价均有较大折价 [11] - 公司的内在价值与其6月30日的每股19.64美元的账面价值相当 [11] 风险提示 - 近期有多家商业房地产信托基金宣布降低股息,这使得公司二季度股息支付率上升引起关注 [12] - 如果公司未来也减息,将大幅改变其风险收益比 [12] 总结 - 公司投资组合多元化、美国办公楼投资比重低等优势仍值得关注 [13] - 尽管二季度股息支付率上升至100%,但公司仍能完全覆盖股息,且股价仅溢价3%,市场也未预期公司会减息 [13] - 公司可能为了维护其良好的股息记录而采取各种措施 [13]

Starwood Property Trust (STWD) could be a solid choice for investors given its recent upgrade to a Zacks Rank #1 (Strong Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change. The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate. Since a cha ...