STWDNYSEReal Estate Investment TrustsUS GAAP · USD

STARWOOD PROPERTY TRUST, INC. Starwood Property Trust Inc

Starwood Property Trust, Inc. is a U.S.-based real estate investment trust that originates, acquires, finances, and manages mortgage loans and other real estate investments. Its portfolio spans commercial real estate debt and equity, infrastructure lending, and property ownership and investing activities across the United States, Europe, and Australia.

Kysy yhtiöstä
Liikevaihto1 844milj. USD
−5,3 %v/v
Nettotulos412milj. USD
+14,3 %v/v
Vapaa kassavirta978milj. USD
+51,2 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

05001 0001 5002 0002 500milj. USD2020: 1 136 milj. USD20202021: 1 170 milj. USD20212022: 1 465 milj. USD20222023: 2 050 milj. USD20232024: 1 947 milj. USD20242025: 1 844 milj. USD20251 844
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Commercial and Residential Lending55 %

Origination and acquisition of mortgage loans secured by commercial and residential real estate.

Infrastructure Lending13 %

Debt investments tied to infrastructure-related assets and projects.

Property15 %

Net lease and direct property ownership, including the Fundamental portfolio.

Investing and Servicing17 %

CMBS investing, special servicing, conduit lending, and related real estate asset management.

Asiakkaat

The company primarily serves commercial real estate borrowers, property owners, and sponsors seeking debt capital across the capital structure. It also works with investors and counterparties in securitization markets, as well as tenants and operators in its owned-property portfolio. In servicing and workout activities, it interacts with distressed borrowers, CMBS trusts, and transaction counterparties that need asset management and resolution expertise.

Commercial real estate borrowers

Borrowers seeking mortgage loans, bridge financing, or structured real estate debt for office, industrial, retail, and other assets.

Infrastructure sponsors and borrowers

Counterparties financing infrastructure-related assets and projects through debt investments.

CMBS and securitization market participants

Investors, trusts, and counterparties involved in CMBS, CLO, SASB, and ABS structures.

Property tenants

Operating businesses leasing properties in the net lease portfolio, including retail, industrial, and service users.

Distressed asset owners and special servicing clients

Borrowers and transaction counterparties needing loan workouts, asset management, and resolution services.

Strategia

The company’s strategy is to source diversified real estate debt and equity assets that can generate attractive risk-adjusted returns across market cycles. It emphasizes transaction access, asset selection, and relative value analysis, while using its external management platform and Starwood network to originate and manage investments. The portfolio is also structured to support REIT distribution requirements and maintain flexibility across lending, servicing, and property ownership.

Diversified real estate credit originationKeskipitkä aikaväli

Diversification across asset types and geographies helps manage cycle risk and supports stable deployment.

Platform-driven asset management and servicingKeskipitkä aikaväli

Special servicing and workout capabilities improve control over stressed assets and recoveries.

Property portfolio expansionLyhyt aikaväli

Net lease and owned-property assets add recurring rental exposure and broaden the earnings base.

Maantiede

Starwood Property Trust invests primarily in the United States, with additional exposure to Europe and Australia. Its property and lending activities are spread across multiple states and international markets, which diversifies asset exposure but also ties results to regional credit, real estate, and interest-rate conditions.

Riskit

The business is exposed to credit risk, real estate valuation risk, and interest-rate sensitivity because it lends against and owns property-related assets. Its externally managed structure and use of securitizations, derivatives, and joint ventures add complexity, while integration of acquired portfolios can create execution risk. As a REIT, it also depends on maintaining tax and regulatory compliance and on access to capital markets for funding and refinancing.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Credit deterioration in loan and debt portfolios1Real estate market and collateral value declines2Interest-rate and credit-spread volatility3REIT and regulatory compliance risk4Acquisition integration risk5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Credit deterioration in loan and debt portfoliosVaikutus: KorkeaTodennäköisyys: Korkea

    The company lends against real estate and infrastructure assets, so borrower stress can increase defaults and impairments.

    KohdistuuCommercial mortgage loansInfrastructure loansCMBS holdings
  2. Real estate market and collateral value declinesVaikutus: KorkeaTodennäköisyys: Korkea

    Lower property values reduce loan coverage and can hurt owned-property valuations and recoveries.

    KohdistuuCommercial real estateNet lease properties
  3. Interest-rate and credit-spread volatilityVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Funding costs, asset yields, and fair values move with rates and spreads, affecting returns and financing capacity.

    KohdistuuMortgage loansSecuritizationsDerivatives
  4. REIT and regulatory compliance riskVaikutus: KorkeaTodennäköisyys: Matala

    Failure to meet REIT distribution or Investment Company Act requirements could affect tax status and operations.

    Kohdistuu: Corporate structure and distributions

  5. Acquisition integration riskVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Large portfolio acquisitions can disrupt operations and delay expected benefits if integration is difficult.

    Kohdistuu: Fundamental Income Properties integration

Kirjanpito

Harkinnanvaraiset erät
CECL credit loss allowance

Expected credit loss estimates on amortized-cost loans and securities directly affect earnings and asset carrying values.

Vaikutus: Loan HFI, HTM securities, accrued interest, and funding commitments

Fair value measurement

Many investments are marked to fair value, so changes in market assumptions can create earnings volatility.

Vaikutus: Loans, CMBS, property investments, derivatives

Goodwill impairment

The company carries goodwill from prior acquisitions, and impairment charges would reduce reported equity and earnings.

Vaikutus: Investing and Servicing and Infrastructure Lending reporting units

Deferred tax asset valuation

Realization depends on future taxable income, which can change with market conditions and portfolio performance.

Vaikutus: Tax expense and balance sheet valuation allowance

Securitization and VIE consolidation

CMBS, CLO, SASB, and ABS structures affect which assets and liabilities are consolidated and how results are presented.

Vaikutus: Revenue, leverage, and balance sheet composition

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Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

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Päivitetty: 24.9.2026