Starwood Property Trust (NYSE:STWD) reported first-quarter earnings in line with expectations, though revenue came in significantly below forecasts.
The real estate investment trust posted adjusted earnings of $0.45 per share, matching the analyst consensus. Revenue totaled $325.47 million, well below projections of $493 million.
Despite the revenue shortfall, the company showcased an active quarter on the investment front. Starwood deployed $2.3 billion, including $1.4 billion in commercial lending and a record $700 million in infrastructure lending. An additional $1.3 billion in investments was closed following the end of the quarter.
Chairman and CEO Barry Sternlicht emphasized the company’s financial flexibility and diversified operations, noting that commercial lending originations so far this year have already exceeded full-year 2024 levels.
Starwood maintained its quarterly dividend of $0.48 per share—a payout it has upheld for over a decade—and reported $1.5 billion in liquidity with no corporate debt maturities for more than a year, reinforcing a stable financial foundation despite the revenue miss.