Starwood Property price target raised to $24 from $21 at BTIG

BTIG raised the firm’s price target on Starwood Property to $24 from $21 and keeps a Buy rating on the shares. The company’s defensive, diversified business segments outside the traditional bridge loan business should support book value while traditional bridge loans potentially see higher credit losses, while the REIT’s liquidity profile and integration with the broader Starwood Capital platform should enable a continuation of stronger net investment volumes relative to peers, the analyst tells investors in a research note.