Last10K.com

Starwood Property Trust, Inc. (STWD) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

SEC Filings

STWD Annual Reports

Starwood Property Trust, Inc.

CIK: 1465128 Ticker: STWD
image_0a.jpg
Exhibit 99.1
For Immediate Release
Starwood Property Trust Reports Results for the
Quarter and Year Ended December 31, 2021
– Quarterly GAAP Earnings of $0.31 and Distributable Earnings of $1.10 per Diluted Share –
– Record $7.1 Billion of Investment Activity in Fourth Quarter, Including $4.4 Billion in CRE Lending –
–Record $16.7 Billion of Investment Activity in 2021, Including $10.0 Billion in CRE Lending –
– Established Affordable Housing Investment Fund, Selling a 20.6% Interest for $216.0 Million –
– Raised $393 Million of Common Equity and Issued $400 Million 3.75% Notes due 2024 –
– Largest Non-Bank CMBS Loan Contributor for Second Year in a Row –
– Paid Dividend of $0.48 per Share –
GREENWICH, Conn., February 25, 2022 /PRNewswire/ -- Starwood Property Trust, Inc. (NYSE: STWD) today announced operating results for the fiscal quarter and year ended December 31, 2021. The Company’s fourth quarter 2021 GAAP net income was $91.4 million, or $0.31 per diluted share, and Distributable Earnings (a non-GAAP financial measure) was $335.0 million, or $1.10 per diluted share. The Company's full year 2021 GAAP net income was $447.7 million, or $1.52 per diluted share, and Distributable Earnings was $794.1 million, or $2.63 per diluted share. Distributable Earnings in both periods includes a $191.3 million gain related to the sale of a 20.6% interest in the new affordable housing investment fund during the fourth quarter of 2021, or $0.62 and $0.63 per diluted share for the quarter and full year, respectively. For GAAP purposes, the establishment of the fund resulted in a $1.2 billion positive mark-to-market adjustment directly to equity which did not impact earnings.
“2021 was a record investment year at Starwood Property Trust. We leveraged our global multi-cylinder platform to invest $16.7 billion, over 50% more than any previous year. In the fourth quarter alone, we invested $7.1 billion, and closed or committed to close over $3.0 billion after quarter end. With $24.1 billion of predominately floating rate assets, we remain very well positioned to navigate the current environment," commented Barry Sternlicht, Chairman and CEO of Starwood Property Trust.

“To fund our record pace of investments and our pipeline, we recently raised $1.7 billion from debt and equity. With $9.0 billion of available secured financing and corporate debt capacity, we have ample liquidity to take advantage of the significant opportunities we see in the market,” added Jeffrey 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.
1


The following information was filed by Starwood Property Trust, Inc. (STWD) on Friday, February 25, 2022 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.

View differences made from one year to another to evaluate Starwood Property Trust, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Starwood Property Trust, Inc..

Continue

Assess how Starwood Property Trust, Inc.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Starwood Property Trust, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Rating

Learn More
Bullish Bearish Neutral
Filter Sentiment:
All
Positive
Negative
Filter Category:
All
Financial
Revenue
M & A
Other
Filter Subcategory:
All
Expense
Geography
Product
Shares
Earnings
Debt
Income
Cash Flow
Dividend
Other
Inside Starwood Property Trust, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover Page
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 - Reclassifications (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 (Tables)
Commitments And Contingencies - Narrative (Details)
Commitments And Contingencies - Summary Of Future Maturity Of Operating Leases (Details)
Commitments And Contingencies - Summary Of Lease Cost (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 - Narrative (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)
Income Taxes - Summary Of Income Tax Provisions (Details)
Income Taxes - Temporary Differences On Deferred Tax Assets (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)
Investments Of Consolidated Affordable Housing Fund
Investments Of Consolidated Affordable Housing Fund (Details)
Investments Of Consolidated Affordable Housing Fund (Tables)
Investments Of Consolidated Affordable Housing Fund - Summary Of Investment Income (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 Operating Leases (Details)
Properties - Summary Of Properties (Details)
Related-Party Transactions
Related-Party Transactions - Acquisitions From Consolidated Cmbs Trusts (Details)
Related-Party Transactions - Acquisitions From Consolidated Rmbs Trusts (Details)
Related-Party Transactions - Investments In Loans And Securities (Details)
Related-Party Transactions - Investments In Unconsolidated Entities (Details)
Related-Party Transactions - Leasing Arrangements (Details)
Related-Party Transactions - Management Agreement (Details)
Related-Party Transactions - Manager Equity Plan (Details)
Related-Party Transactions - Other Related-Party Arrangements (Details)
Restricted Cash
Restricted Cash (Details)
Restricted Cash (Tables)
Schedule Iii - Real Estate And Accumulated Depreciation
Schedule Iii - Real Estate And Accumulated Depreciation - Accumulated Depreciation Activity (Details)
Schedule Iii - Real Estate And Accumulated Depreciation - Real Estate Activity (Details)
Schedule Iii - Real Estate And Accumulated Depreciation - Summary Of Properties (Details)
Schedule Iv - Mortgage Loans On Real Estate
Schedule Iv - Mortgage Loans On Real Estate - Loan Activity (Details)
Schedule Iv - Mortgage Loans On Real Estate - Summary Of Loans (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 And Geographic Data
Segment And Geographic Data (Tables)
Segment And Geographic Data - Additional Information (Details)
Segment And Geographic Data - Balance Sheet (Details)
Segment And Geographic Data - Results Of Operations (Details)
Stockholders' Equity And Non-Controlling Interests
Stockholders' Equity And Non-Controlling Interests (Tables)
Stockholders' Equity And Non-Controlling Interests - Common Stock Issued To Manager (Details)
Stockholders' Equity And Non-Controlling Interests - Common Stock Offering (Details)
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)
Stockholders' Equity And Non-Controlling Interests - Share Based Compensation Expense (Details)
Stockholders' Equity And Non-Controlling Interests - Vesting Schedule (Details)
Subsequent Events
Subsequent Events - Narrative (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)
Ticker: STWD
CIK: 1465128
Form Type: 10-K Annual Report
Accession Number: 0001628280-22-003917
Submitted to the SEC: Fri Feb 25 2022 7:26:04 AM EST
Accepted by the SEC: Fri Feb 25 2022
Period: Friday, December 31, 2021
Industry: Real Estate Investment Trusts

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/stwd/0001628280-22-003917.htm