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Starwood Property Trust, Inc. (STWD) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2012

Starwood Property Trust, Inc.

CIK: 1465128 Ticker: STWD

Exhibit 99.1

 

 

For Immediate Release

 

Starwood Property Trust, Inc. Reports Results for the Quarter and Year Ended December 31, 2012

 

— Quarterly Core Earnings of $0.48 per diluted Common Share —

 

— Over $1.0 Billion of Investment Activity in the Fourth Quarter of 2012 —

 

— 2012 Core Earnings of $1.99 per diluted Common Share —

 

— Declares Dividend of $0.44 per Share for First Quarter 2013 —

 

GREENWICH, Conn., February 27, 2013 /PRNewswire/ — Starwood Property Trust, Inc. (NYSE: STWD) today announced operating results for the fourth quarter and year ended December 31, 2012.  The Company’s Core Earnings, a Non-GAAP financial measure, were $64.5 million, or $0.48 per diluted share, for the quarter, an increase of 14% per diluted share compared to $39.8 million, or $0.42 per diluted share, for the same quarter of 2011.  Core Earnings for 2012 were $228.3 million, or $1.99 per diluted share, an increase of approximately 17% over the per diluted share amount of $1.70 per diluted share for the same period in the prior year.

 

Net income attributable to the Company for the three and twelve months ended December 31, 2012 was approximately $56.3 million and $201.2 million, respectively, compared to $41.0 million and $119.4 million, respectively, for the three and twelve months ended December 31, 2011.  Net income per diluted share outstanding for the fourth quarter 2012 was $0.42, compared to $0.44 in the fourth quarter 2011.  For the year ended December 31, 2012, net income per diluted share increased over 27% to $1.76 compared to $1.38 for the same period ended December 31, 2011.

 

“Starwood Property Trust produced a strong quarter, ending a year of significant growth for the Company,” stated Barry Sternlicht, Chairman and CEO of Starwood Property Trust. “In 2012, we invested over $2.6 billion, dramatically expanding our asset base with high quality investments producing a compelling yield in a highly competitive environment.  We are building a successful brand in the commercial real estate markets as a lender to many high profile and growing real estate owners and developers. We are valued for our speed, flexibility, creativity, scale and real estate knowledge, all of which should contribute to our continued growth and success.”

 

Mr. Sternlicht continued, “In January of 2013, we agreed to purchase LNR Property.  This transformational transaction catapults the Company into a premier position in commercial real estate finance, introduces new product lines, more diversity and a unique set of relationships to enable us to continue to deliver superior risk adjusted returns to our shareholders. LNR adds significant scale to our operations and should provide Starwood Property Trust with a proprietary pipeline of additional opportunities in the coming years. Furthermore, we were able to advance this agreement while at the same time originating over $1 billion of

 


The following information was filed by Starwood Property Trust, Inc. (STWD) on Wednesday, February 27, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Equity
Consolidated Statements Of Operations
Consolidated Statements Of Operations (parenthetical)
Accumulated Other Comprehensive Income (loss)
Accumulated Other Comprehensive Income (loss) (details)
Accumulated Other Comprehensive Income (loss) (tables)
Business And Organization
Business And Organization (details)
Commitments And Contingencies
Commitments And Contingencies (details)
Debt Securities
Debt Securities (details 2)
Debt Securities (details)
Debt Securities (tables)
Derivatives And Hedging Activity
Derivatives And Hedging Activity (details 2)
Derivatives And Hedging Activity (details 3)
Derivatives And Hedging Activity (details)
Derivatives And Hedging Activity (tables)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (details 2)
Fair Value Of Financial Instruments (details 3)
Fair Value Of Financial Instruments (details 4)
Fair Value Of Financial Instruments (details 5)
Fair Value Of Financial Instruments (details)
Fair Value Of Financial Instruments (tables)
Loan Securitization/sale Activities
Loan Securitization/sale Activities (details)
Loans
Loans (details)
Loans (tables)
Net Income Per Share
Net Income Per Share (details)
Net Income Per Share (tables)
Other Investments
Other Investments (details 2)
Other Investments (details 3)
Other Investments (details)
Other Investments (tables)
Quarterly Financial Data (unaudited)
Quarterly Financial Data (unaudited) (details)
Quarterly Financial Data (unaudited) (tables)
Related-party Transactions
Related-party Transactions (details)
Schedule Iii-residential Real Estate
Schedule Iii-residential Real Estate (details)
Schedule Iv-mortgage Loans On Real Estate
Schedule Iv-mortgage Loans On Real Estate (details 2)
Schedule Iv-mortgage Loans On Real Estate (details)
Secured Financing Agreements
Secured Financing Agreements (details 2)
Secured Financing Agreements (details)
Secured Financing Agreements (tables)
Stockholders' Equity
Stockholders' Equity (details 2)
Stockholders' Equity (details)
Stockholders' Equity (tables)
Subsequent Events
Subsequent Events (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (details)
Summary Of Significant Accounting Policies (policies)
Ticker: STWD
CIK: 1465128
Form Type: 10-K Annual Report
Accession Number: 0001047469-13-001746
Submitted to the SEC: Wed Feb 27 2013 6:52:12 AM EST
Accepted by the SEC: Wed Feb 27 2013
Period: Monday, December 31, 2012
Industry: Real Estate Investment Trusts

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