---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-015419"
form_type: "8-K"
ticker: "STWD"
cik: "0001465128"
company_name: "STARWOOD PROPERTY TRUST, INC."
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T21:37:17.712750+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Starwood Property Trust Q1 GAAP EPS $0.16, Distributable EPS $0.49

## Summary
- GAAP net income $52M ($0.16/diluted share); Distributable Earnings $157.2M ($0.49/diluted share).
- Undepreciated book value per share $21.37; paid dividend of $0.48/share.
- LNR affirmed by Fitch at CSS1 — only special servicer with highest rating.
- Repaid $250M convertible notes (April 2023) after quarter end; leverage 2.5x.
- 40% of distributable earnings from non-lending sources; 73% of new origination in infrastructure lending.

## SEC filing metadata
- accession: 0001628280-23-015419
- form_type: 8-K
- ticker: STWD
- cik: 0001465128
- company_name: STARWOOD PROPERTY TRUST, INC.
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1465128/000162828023015419/0001628280-23-015419-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1465128/000162828023015419/stwd-20230504.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-015419
- JSON: https://secwatch.observer/filing/0001628280-23-015419.json
- Plain text: https://secwatch.observer/filing/0001628280-23-015419.txt

## Key facts
- Earnings Releases
  STARWOOD PROPERTY TRUST, INC. reported quarter ended March 31, 2023 results: net income GAAP net income was $52.0 million, EPS Quarterly GAAP Earnings of $0.16 and Distributable Earnings (DE) of $0.49 per Diluted Share.
  - Period: quarter ended March 31, 2023
  - Net income: GAAP net income was $52.0 million
  - EPS: Quarterly GAAP Earnings of $0.16 and Distributable Earnings (DE) of $0.49 per Diluted Share
  - Result: reported results
  source text: – Quarterly GAAP Earnings of $0.16 and Distributable Earnings (DE) of $0.49 per Diluted Share – – Undepreciated Book Value Per Share of $21.37 – – LNR Affirmed by Fitch at CSS1, Only Special Servicer Carrying Highest Rating – – Repaid $250 Million April 2023 Convertible Notes Subsequent to Quarter End – – Paid Dividend of $0.48 per Share – GREENWICH, Conn., May 4, 2023 /PRNewswire/ -- Starwood Property Trust, Inc. (NYSE: STWD) today announced operating results for the fiscal quarter ended March 31, 2023. The Company’s first quarter 2023 GAAP net income was $52.0 million, and Distributable Earnings (a non-GAAP financial measure) was $157.2 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1465128/000162828023015419/0001628280-23-015419-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.