Starwood Property: Risky Dividend Setup (Rating Downgrade)
STWDStarwood Property Trust(STWD) Seeking Alpha·2024-08-12 17:04

i 19 i I ul ryasick Starwood Property (NYSE:STWD) delivered a decent, but not great, earnings report for the second fiscal quarter on Tuesday. While the REIT supported its dividend with distributable earnings, weaker performance in the commercial and residential segment led to a deterioration in distribution coverage. Starwood Property's distribution coverage ratio dropped to 100% in the second-quarter, meaning the REIT's safety margin completely disappeared and the REIT is potentially going to have to rese ...