State of Michigan Retirement System Grows Stock Holdings in Starwood Property Trust, Inc. (NYSE:STWD)

State of Michigan Retirement System raised its position in Starwood Property Trust, Inc. (NYSE:STWD) by 2.4% during the first quarter, Holdings Channel.com reports. The fund owned 73,100 shares of the real estate investment trust’s stock after purchasing an additional 1,700 shares during the quarter. State of Michigan Retirement System’s holdings in Starwood Property Trust were worth $1,486,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Starwood Property Trust during the 4th quarter valued at about $62,447,000. Waterfront Capital Partners LLC bought a new stake in shares of Starwood Property Trust during the 4th quarter valued at about $15,997,000. NFC Investments LLC bought a new stake in shares of Starwood Property Trust during the 4th quarter valued at about $13,237,000. Premier Fund Managers Ltd bought a new stake in shares of Starwood Property Trust during the 4th quarter valued at about $9,276,000. Finally, MGO One Seven LLC boosted its stake in shares of Starwood Property Trust by 836.9% during the 4th quarter. MGO One Seven LLC now owns 437,819 shares of the real estate investment trust’s stock valued at $9,203,000 after purchasing an additional 391,087 shares in the last quarter. Hedge funds and other institutional investors own 49.82% of the company’s stock.

Starwood Property Trust Stock Down 0.7 %

Shares of Starwood Property Trust stock opened at $18.80 on Friday. The company has a debt-to-equity ratio of 2.80, a quick ratio of 2.49 and a current ratio of 2.49. The stock has a market capitalization of $5.94 billion, a PE ratio of 13.53 and a beta of 1.69. Starwood Property Trust, Inc. has a 52-week low of $17.07 and a 52-week high of $22.29. The company has a 50-day simple moving average of $19.43 and a two-hundred day simple moving average of $19.95.

Starwood Property Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.92 annualized dividend and a yield of 10.21%. Starwood Property Trust’s dividend payout ratio (DPR) is presently 138.13%.

Analysts Set New Price Targets

STWD has been the topic of a number of research reports. Wolfe Research started coverage on shares of Starwood Property Trust in a research note on Tuesday, June 25th. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Starwood Property Trust from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. Keefe, Bruyette & Woods dropped their price objective on shares of Starwood Property Trust from $21.00 to $20.50 and set a “market perform” rating on the stock in a research note on Wednesday, April 10th. Raymond James dropped their price objective on shares of Starwood Property Trust from $23.50 to $23.00 and set a “strong-buy” rating on the stock in a research note on Thursday, May 16th. Finally, BTIG Research dropped their price objective on shares of Starwood Property Trust from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Starwood Property Trust has a consensus rating of “Moderate Buy” and a consensus target price of $21.88.

Starwood Property Trust Profile

Starwood Property Trust, Inc operates as a real estate investment trust (REIT) in the United States and internationally. The company operates through Commercial and Residential Lending, Infrastructure Lending, Property, and Investing and Servicing segments. The Commercial and Residential Lending segment originates, acquires, finances, and manages commercial first mortgages, non-agency residential mortgages, subordinated mortgages, mezzanine loans, preferred equity, commercial mortgage-backed securities (CMBS), and residential mortgage-backed securities, as well as other real estate and real estate-related debt investments, include distressed or non-performing loans.