State of New Jersey Common Pension Fund D Has $8.83 Million Stock Holdings in Starwood Property Trust, Inc. (NYSE:STWD)

State of New Jersey Common Pension Fund D cut its holdings in Starwood Property Trust, Inc. (NYSE:STWD) by 32.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 466,171 shares of the real estate investment trust’s stock after selling 223,186 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.15% of Starwood Property Trust worth $8,829,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in Starwood Property Trust in the first quarter worth about $26,000. ICA Group Wealth Management LLC bought a new position in Starwood Property Trust during the fourth quarter worth about $28,000. Cape Investment Advisory Inc. bought a new position in Starwood Property Trust during the fourth quarter worth about $32,000. Core Wealth Advisors Inc. bought a new position in Starwood Property Trust during the fourth quarter worth about $32,000. Finally, Salem Investment Counselors Inc. boosted its holdings in Starwood Property Trust by 80.0% during the first quarter. Salem Investment Counselors Inc. now owns 1,800 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 800 shares during the last quarter. 49.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. raised their target price on Starwood Property Trust from $20.00 to $20.50 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. BTIG Research reiterated a “buy” rating and set a $24.00 price objective on shares of Starwood Property Trust in a report on Friday, July 19th. Keefe, Bruyette & Woods upgraded Starwood Property Trust from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $20.50 to $22.50 in a report on Thursday, September 5th. Finally, Wolfe Research assumed coverage on Starwood Property Trust in a report on Tuesday, June 25th. They set a “peer perform” rating on the stock. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.07.

Starwood Property Trust Stock Performance

Shares of NYSE STWD opened at $20.20 on Friday. The company has a debt-to-equity ratio of 2.80, a current ratio of 1.84 and a quick ratio of 1.84. The stock’s fifty day moving average price is $19.89 and its two-hundred day moving average price is $19.73. Starwood Property Trust, Inc. has a one year low of $17.07 and a one year high of $22.29. The firm has a market cap of $6.40 billion, a price-to-earnings ratio of 14.53 and a beta of 1.70.

Starwood Property Trust (NYSE:STWD) last issued its quarterly earnings data on Tuesday, August 6th. The real estate investment trust reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. Starwood Property Trust had a return on equity of 10.03% and a net margin of 17.05%. The firm had revenue of $489.80 million for the quarter, compared to analyst estimates of $505.23 million. During the same period in the prior year, the firm posted $0.47 EPS. The company’s revenue for the quarter was down 5.0% on a year-over-year basis. On average, equities analysts forecast that Starwood Property Trust, Inc. will post 1.89 EPS for the current year.

Starwood Property Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.48 per share. The ex-dividend date is Monday, September 30th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.50%. Starwood Property Trust’s payout ratio is 138.13%.

About Starwood Property Trust

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.