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Starwood Property Trust, Inc. (STWD) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, June 30, 2021

Starwood Property Trust, Inc.

CIK: 1465128 Ticker: STWD

Exhibit 99.1

Graphic

For Immediate Release

Starwood Property Trust Reports Results for the

Quarter Ended March 31, 2021

Quarterly GAAP Earnings of $0.38 and Distributable Earnings of $0.50 per Diluted Share

Originated or Acquired $2.7 Billion of Assets, Including $2.2 Billion in Commercial Lending

– Paid Dividend of $0.48 per Share for 29th Straight Quarter

Completed $500 Million Inaugural Infrastructure CLO and $1.3 Billion CRE CLO –

LNR Upgraded by Fitch to CSS1, Only Special Servicer Carrying Highest Rating

GREENWICH, Conn., May 6, 2021 /PRNewswire/ -- Starwood Property Trust, Inc. (NYSE: STWD) today announced operating results for the fiscal quarter ended March 31, 2021.  The Company’s first quarter 2021 GAAP net income was $111.4 million, or $0.38 per diluted share, and Distributable Earnings (a non-GAAP financial measure) was $150.8 million, or $0.50 per diluted share.

“We benefited from a strong start to the year with $2.7 billion of capital deployed in the first quarter across our business cylinders, including $2.2 billion in Commercial Lending, bringing our post-COVID capital deployment to $5.7 billion. The credit performance of our diversified business lines coupled with our robust liquidity position gave us the confidence to continue our strong pace of investment activity.  Eleven years into our journey, the LTV of our loan book remains low at 60.1%, and we continue to provide an attractive yield in a low rate world," commented Barry Sternlicht, Chairman and CEO of Starwood Property Trust.  

“After quarter end, we closed two CLOs totaling $1.8 billion: our inaugural Infrastructure CLO for $500 million and our second CRE CLO for $1.3 billion. These financings allowed us to further de-risk our balance sheet and diversify our funding sources.

“After a year of unprecedented distress which led to record volume in our special servicer, LNR was upgraded by Fitch to its highest servicer rating and is the only CMBS special servicer at this level globally.  We are extremely proud of this achievement which recognizes the strength and tenure of our team, years of operating at the highest level, our commitment to technology and our exemplary performance," commented Jeff DiModica, President of Starwood Property Trust.

Supplemental Schedules

The Company has published supplemental earnings schedules on its website in order to provide additional disclosure and financial information for the benefit of the Company’s stakeholders.  Specifically, these materials can be found on the Company’s website in the Investor Relations section under “Quarterly Results” at www.starwoodpropertytrust.com.

Webcast and Conference Call Information

The Company will host a live webcast and conference call on Thursday, May 6, 2021, at 10:00 a.m. Eastern Time.  To listen to a live broadcast, access the site at least 15 minutes prior to the scheduled start time in order to register, download and install any necessary audio software.  The webcast is available at  

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The following information was filed by Starwood Property Trust, Inc. (STWD) on Thursday, May 6, 2021 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Definitive Proxy Statement (Form DEF 14A)
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Starwood Property Trust, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:

  • Voting Procedures
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Inside Starwood Property Trust, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income
Condensed Consolidated Statements Of Equity
Condensed Consolidated Statements Of Equity (Parenthetical)
Condensed Consolidated Statements Of Operations
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Tables)
Accumulated Other Comprehensive Income - Changes In Aoci (Details)
Acquisitions And Divestitures
Acquisitions And Divestitures - Sale Of Operating Property - (Details)
Business And Organization
Business And Organization (Details)
Commitments And Contingencies
Commitments And Contingencies - Narrative (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 (Tables)
Goodwill And Intangibles - Activity (Details)
Goodwill And Intangibles - Future Expected Amortization (Details)
Goodwill And Intangibles - Narrative (Details)
Goodwill And Intangibles - Summary Of Intangible Assets (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Narrative (Details)
Income Taxes - Reconciliation Of Tax Rate (Details)
Investment In Unconsolidated Entities
Investment In Unconsolidated Entities (Details)
Investment In Unconsolidated Entities (Tables)
Investment Securities
Investment Securities (Tables)
Investment Securities - Afs And Fair Value Option (Details)
Investment Securities - Available-For-Sale Rmbs (Details)
Investment Securities - Htm (Details)
Investment Securities - Narrative (Details)
Investment Securities - Summary Of Investment Securities (Details)
Investment Securities - Summary Of Purchases And Sales (Details)
Loan Securitization/Sale Activities
Loan Securitization/Sale Activities (Tables)
Loan Securitization/Sale Activities - Narrative (Details)
Loan Securitization/Sale Activities - Summary Of Loans (Details)
Loans
Loans (Tables)
Loans - Activity In Portfolio (Details)
Loans - Held For Investment (Details)
Loans - Narrative (Details)
Loans - Ratings (Details)
Loans - Variable Rate Loans Held For Investment (Details)
Offsetting Assets And Liabilities
Offsetting Assets And Liabilities (Details)
Offsetting Assets And Liabilities (Tables)
Properties
Properties (Tables)
Properties - Narrative (Details)
Properties - Summary Of Properties (Details)
Related-Party Transactions
Related-Party Transactions - Investments In Loans And Securities And Other Arrangements (Details)
Related-Party Transactions - Management Agreement &Amp; Manager Equity Plan (Details)
Secured Borrowings
Secured Borrowings (Tables)
Secured Borrowings - Collateralized Loan Obligations (Details)
Secured Borrowings - Narrative (Details)
Secured Borrowings - Principal Repayments (Details)
Secured Borrowings - Secured Financing Agreements (Details)
Segment Data
Segment Data (Tables)
Segment Data - Balance Sheet (Details)
Segment Data - Results Of Operations (Details)
Stockholders' Equity And Non-Controlling Interests
Stockholders' Equity And Non-Controlling Interests (Tables)
Stockholders' Equity And Non-Controlling Interests - Declared Dividends (Details)
Stockholders' Equity And Non-Controlling Interests - Equity Incentive Plans (Details)
Stockholders' Equity And Non-Controlling Interests - Narrative (Details)
Stockholders' Equity And Non-Controlling Interests - Non-Vested Shares (Details)
Subsequent Events
Subsequent Events (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies (Policies)
Unsecured Senior Notes
Unsecured Senior Notes (Tables)
Unsecured Senior Notes - Convertible Notes (Details)
Unsecured Senior Notes - Narrative (Details)
Unsecured Senior Notes - Summary Of Unsecured Financing Agreements (Details)
Variable Interest Entities
Variable Interest Entities (Tables)
Variable Interest Entities - Assets And Liabilities Of Consolidated Clo (Details)
Variable Interest Entities - Narrative (Details)

Material Contracts, Statements, Certifications & more

Starwood Property Trust, Inc. provided additional information to their SEC Filing as exhibits

Ticker: STWD
CIK: 1465128
Form Type: 10-Q Quarterly Report
Accession Number: 0001628280-21-015669
Submitted to the SEC: Thu Aug 05 2021 6:58:06 AM EST
Accepted by the SEC: Thu Aug 05 2021
Period: Wednesday, June 30, 2021
Industry: Real Estate Investment Trusts

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