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Starwood Property Trust, Inc. (STWD) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2016

Starwood Property Trust, Inc.

CIK: 1465128 Ticker: STWD

 

Exhibit 99.1

C:\Users\105621\Desktop\Starwood_Logo.jpg

For Immediate Release

Starwood Property Trust Reports Results for the

Quarter and Year Ended December 31, 2016

 

– Quarterly GAAP Earnings of $0.49 and Core Earnings of $0.50 per Diluted Common Share –

– Deploys $1.2 Billion of Capital in Lending Segment During the Quarter –

– Completes Inaugural Senior Unsecured Notes Offering –

– Declares Dividend of $0.48 per share for the First Quarter of 2017 –

GREENWICH, Conn., February 23, 2017 /PRNewswire/ -- Starwood Property Trust, Inc. (NYSE: STWD) today announced operating results for the fiscal quarter and year ended December 31, 2016.  The Company’s fourth quarter 2016 GAAP net income was $121.3 million, or $0.49 per diluted share, and $365.2 million, or $1.50 per diluted share, for the full year.  Core Earnings (a non-GAAP financial measure) for the fourth quarter was $122.6 million, or $0.50 per diluted share, and $502.5 million or $2.09 per diluted share, for the full year.  Excluding the write-off of unamortized costs associated with the early retirement of the Company’s term loan due 2020, GAAP and Core Earnings per diluted share for the quarter were $0.52 and $0.53, respectively.

   

“We continued to generate strong results driven by the successful execution of our business plan, as evidenced by the $6.4 billion of capital we deployed in 2016 across our diversified platform. The fourth quarter was actually the most active of the year for our largest business, our lending segment, and that momentum has continued into the first quarter.  We also expanded our capital sources, highlighted by the completion of our inaugural senior unsecured notes offering, which brought our maximum total borrowing capacity to $10.2 billion. As a result of these efforts, we received a corporate credit rating upgrade which is an important endorsement of our ability to maintain an attractive risk return profile with our high credit quality standards. As we look ahead to 2017, we expect to continue to capitalize on our robust pipeline of opportunities in order to deliver attractive total returns for our shareholders.”

Dividend

On February 23, 2017, the Company’s Board of Directors declared a dividend of $0.48 per share of common stock for the quarter ending March 31, 2017. The dividend is payable on April 14, 2017 to common stockholders of record as of March 31, 2017. 

2017 Outlook

Given its current outlook, the Company is confident that it will generate Core Earnings in excess of the dividend and expects to maintain a $1.92 per share distribution for the full year.

1

 


The following information was filed by Starwood Property Trust, Inc. (STWD) on Thursday, February 23, 2017 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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Inside Starwood Property Trust, Inc.'s 10-K Annual Report:

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 Equity (parenthetical)
Consolidated Statements Of Operations
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (tables)
Accumulated Other Comprehensive Income - Changes In Aoci (details)
Accumulated Other Comprehensive Income - Impact Of Reclassifications Out Of Aoci (details)
Acquisitions And Divestitures
Acquisitions And Divestitures (details)
Acquisitions And Divestitures (tables)
Acquisitions And Divestitures - Divestiture And Spin-off (details)
Acquisitions And Divestitures - Purchase Price Allocations (details)
Business And Organization
Business And Organization (details)
Commitments And Contingencies
Commitments And Contingencies (details)
Derivatives And Hedging Activity
Derivatives And Hedging Activity (tables)
Derivatives And Hedging Activity - Designated And Non-designated Hedges (details)
Derivatives And Hedging Activity - Effect On Financial Statements (details)
Derivatives And Hedging Activity - Fair Value (details)
Earnings Per Share
Earnings Per Share (details)
Earnings Per Share (tables)
Earnings Per Share - Dilutive And Antidilutive Securities (details)
Fair Value
Fair Value (tables)
Fair Value - Financial Assets And Liabilities (details)
Fair Value - Financial Instruments Not Carried At Fair Value (details)
Fair Value - Level Iii (details)
Fair Value - Significant Unobservable Inputs (details)
Goodwill And Intangibles
Goodwill And Intangibles (details)
Goodwill And Intangibles - Activity (details)
Income Taxes
Income Taxes (details)
Income Taxes (tables)
Income Taxes - Reconciliation Of Tax Rate (details)
Investment In Unconsolidated Entities
Investment In Unconsolidated Entities (details)
Investment Securities
Investment Securities (details)
Investment Securities (tables)
Investment Securities - Afs And Fair Value Option (details)
Investment Securities - Htm (details)
Investment Securities - Seref (details)
Loan Securitization/sale Activities
Loan Securitization/sale Activities (details)
Loan Securitization/sale Activities (tables)
Loans
Loans (tables)
Loans - Activity In Portfolio (details)
Loans - Held For Investment (details)
Loans - Ratings (details)
Offsetting Assets And Liabilities
Offsetting Assets And Liabilities (details)
Offsetting Assets And Liabilities (tables)
Properties
Properties (details)
Properties (tables)
Quarterly Financial Data (unaudited)
Quarterly Financial Data (unaudited) (details)
Quarterly Financial Data (unaudited) (tables)
Related-party Transactions
Related-party Transactions - Investments In Loans And Securities And Other Arrangements (details)
Related-party Transactions - Management Agreement And Manager Equity Plan (details)
Restricted Cash
Restricted Cash (details)
Restricted Cash (tables)
Schedule Iii-residential Real Estate
Schedule Iii-residential Real Estate (details)
Schedule Iii-residential Real Estate - Activity (details)
Schedule Iv-mortgage Loans On Real Estate
Schedule Iv-mortgage Loans On Real Estate (details)
Secured Financing Agreements
Secured Financing Agreements (details)
Segment And Geographic Data
Segment And Geographic Data (tables)
Segment And Geographic Data - Balance Sheets (details)
Segment And Geographic Data - Foreign Revenue (details)
Segment And Geographic Data - Results Of Operations (details)
Stockholders' Equity
Stockholders' Equity (details)
Stockholders' Equity (tables)
Stockholders' Equity - Equity Incentive Plans (details)
Stockholders' Equity - Non-vested Shares (details)
Stockholders' Equity - Share-based Compensation Expenses (details)
Subsequent Events
Subsequent Events (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies - Reclassifications (details)
Summary Of Significant Accounting Policies - Vie & Fair Value (details)
Unsecured Financing Agreements (details)
Unsecured Senior Notes
Variable Interest Entities
Variable Interest Entities (details)
Ticker: STWD
CIK: 1465128
Form Type: 10-K Annual Report
Accession Number: 0001558370-17-000816
Submitted to the SEC: Thu Feb 23 2017 7:10:14 AM EST
Accepted by the SEC: Thu Feb 23 2017
Period: Saturday, December 31, 2016
Industry: Real Estate Investment Trusts

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