As previously reported, BofA downgraded Starwood Property to Neutral from Buy with a price target of $21.50, down from $22.50. Commercial real estate, or CRE, mortgage REITs outperformed other financial stocks in 2023, but the firm thinks the fundamental headwinds CRE faces are likely to persist throughout 2024 and it is cautious on CRE mREITs broadly this year, the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on STWD:
- Starwood Capital names Jonathan Pollack president
- Starwood Property price target raised to $22 from $21 at Wells Fargo
- Starwood Property price target raised to $21 from $20.50 at JPMorgan
- Starwood Property Trust Reports Results for the Quarter and Year Ended December 31, 2023
- Starwood Property reports Q4 distributable EPS 58c, consensus 48c