Starwood Property reports Q4 non-GAAP EPS 50c, consensus 50c

Reports Q4 revenue $376.43M, consensus $457.05M. Reports undepreciated Book Value per share increased 96c vs. a year ago to $21.70 "We built our unique multi-cylinder platform to perform through economic cycles. We have the most diversified asset and liability structure in our sector, which enabled us to once again generate consistent returns in 2022. Our results were highlighted by continued income growth in our Woodstar Fund investments, which increased in fair value by $555.0M this year alone and contributed to record book value growth of 26% over the last two years," commented Barry Sternlicht, Chairman and CEO of Starwood Property Trust. "We are well-positioned to take advantage of outsized investment opportunities across our business lines in 2023, with strong liquidity levels and access to significant sources of capital, including $3.9B of unencumbered assets which allow for incremental debt capacity and $1.5B of unrealized gains in our property portfolio which are available to be harvested to create incremental liquidity. As we evaluate investing into these outsized opportunities, we remain laser focused on protecting our low leverage balance sheet," added Jeffrey DiModica, President of Starwood Property Trust.