Starwood Property Trust Q2 2024: GAAP EPS $0.24, DE $0.48; declares $0.48 dividend for next two quarters

STARWOOD PROPERTY TRUST, INC.

2024-Q2 EPS reported $0.73 revenue$1,012,914,000

GAAP net income $77.9M ($0.24 diluted EPS), includes $42.7M credit loss provision.
Distributable Earnings (non-GAAP) $157.8M ($0.48 per share); dividend of $0.48 declared for Q3 and Q4 2024.
Received $0.9B in repayments; repriced $591M Term Loan B from S+325 to S+275 bps.
Special servicing assignments ~$10B, up 40% since start of 2024; Fitch reaffirmed CSS1 rating.
Over 40% of assets outside commercial lending; $1.2B liquidity and $4.5B unencumbered assets.

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