Starwood Property (STWD) Received its Third Buy in a Row

After Raymond James and J.P. Morgan gave Starwood Property (NYSE: STWD) a Buy rating last month, the company received another Buy, this time from BTIG. Analyst Eric Hagen maintained a Buy rating on Starwood Property yesterday and set a price target of $29.00. The company’s shares closed last Thursday at $23.58.

According to TipRanks.com, Hagen is a 2-star analyst with an average return of -0.6% and a 50.0% success rate. Hagen covers the Financial sector, focusing on stocks such as Kkr Real Estate Finance, PennyMac Financial, and Apollo Real Estate.

Currently, the analyst consensus on Starwood Property is a Strong Buy with an average price target of $27.75, implying a 18.2% upside from current levels. In a report issued on July 25, J.P. Morgan also maintained a Buy rating on the stock with a $25.00 price target.

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Based on Starwood Property’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $474 million and net profit of $325 million. In comparison, last year the company earned revenue of $214 million and had a net profit of $111 million.

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Starwood Property Trust, Inc. engages in originating, acquiring, financing, and managing commercial mortgage loans and other commercial real estate debt and equity investments. It operates through the following segments: Real Estate Commercial and Residential Lending; Real Estate Property; Infrastructure Lending; and Real Estate Investing and Servicing. The Real Estate Commercial and Residential Lending segment includes commercial first and subordinated mortgages, mezzanine loans, preferred equity, certain residential mortgage loans, and other real estate debt investments. The Real Estate Property segment consists of acquisition and managing equity interests in stabilized commercial real estate properties, such as multi-family properties, that are held for investment. The Infrastructure Lending Segment engages primarily in originating, acquiring, financing and managing infrastructure debt investments. The Real Estate Investing and Servicing comprises servicing business that manages and works out problem assets; investment business that selectively acquires and manages unrated, investment grade, and non-investment grade; mortgage loan business which originates conduit loans for the primary purpose of selling loans into securitization transactions; and an investment business that selectively acquires commercial real estate assets. The company was founded on August 17, 2009 and is headquartered in Greenwich, CT.

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