SlateStone Wealth Increases Stake in Starwood Property Trust by 6.4%

SlateStone Wealth LLC has increased its stake in Starwood Property Trust, Inc. by 6.4% during the second quarter of 2023. According to a recent disclosure with the Securities and Exchange Commission, the investment firm now holds 86,580 shares of the real estate investment trust (REIT), having acquired an additional 5,230 shares in the period. As of the end of the last quarter, SlateStone’s holdings in Starwood Property Trust were valued at approximately $1.738 million.

A wave of investment activity has recently characterized Starwood Property Trust, with several institutional investors either purchasing or adjusting their positions. Notably, Kingstone Capital Partners Texas LLC acquired a new stake in Starwood Property Trust valued at around $765.8 million during the second quarter.

Northern Trust Corp also increased its stake in the REIT by 3.6% in the first quarter, now owning 5,479,313 shares valued at $108.3 million after acquiring an additional 192,283 shares. Similarly, Raymond James Financial Inc. expanded its holdings by 5.5%, bringing its total to 2,719,027 shares worth $53.8 million following the purchase of 141,689 shares.

Charles Schwab Investment Management Inc. raised its position by 1.9% in the first quarter, holding 2,194,942 shares valued at $43.4 million after acquiring an additional 41,845 shares. HighTower Advisors LLC also increased its holdings by 10.7%, now owning 1,993,652 shares valued at $39.4 million. Overall, institutional investors hold approximately 49.82% of Starwood Property Trust’s stock.

Current Trading and Analyst Ratings

On October 31, 2023, Starwood Property Trust shares opened at $17.80. The company boasts a debt-to-equity ratio of 2.90, alongside a quick ratio and current ratio both at 1.61. With a market capitalization of $6.59 billion, its price-to-earnings ratio stands at 16.33, and the stock has shown a beta of 1.27. The stock has fluctuated between a one-year low of $16.59 and a high of $21.05. Its fifty-day moving average is $18.76, while the two-hundred-day moving average is $19.62.

Recent analyst reports have presented a mixed outlook for Starwood Property Trust. Zacks Research downgraded the stock from a “hold” rating to a “strong sell” on October 29, 2023. In contrast, Weiss Ratings maintained a “hold (c)” rating in a note issued on October 8, 2023.

Analysts at Keefe, Bruyette & Woods revised their price target from $22.00 to $21.00 while retaining an “outperform” rating. Wall Street Zen upgraded the stock from a “sell” rating to a “hold” on August 9, 2023. Wells Fargo & Company also adjusted its price target, lowering it from $23.00 to $22.00, while keeping an “outperform” rating.

Currently, three research analysts have issued a Buy rating for Starwood Property Trust, two have given it a Hold rating, and one has assigned a Sell rating. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $20.63.

About Starwood Property Trust

Starwood Property Trust, Inc. operates as a real estate investment trust with a diverse portfolio that spans both domestic and international markets. The company’s operations are divided into several segments, including Commercial and Residential Lending, Infrastructure Lending, Property, and Investing and Servicing. The Commercial and Residential Lending segment focuses on originating, acquiring, financing, and managing various types of commercial and residential mortgages, along with other real estate-related debt investments, which may include distressed or non-performing loans.

This recent surge in investment activity surrounding Starwood Property Trust highlights the ongoing interest in the real estate sector, as institutional investors continue to navigate the complex landscape of real estate investments.