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Starwood Property Trust

DB:VSP
Snowflake Description

Established dividend payer and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
VSP
DB
$6B
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

Starwood Property Trust, Inc. operates as a real estate investment trust (REIT) in the United States and Europe. The last earnings update was 51 days ago. More info.


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VSP Share Price and Events
7 Day Returns
0.2%
DB:VSP
-0.2%
Global Mortgage REITs
1.8%
DE Market
1 Year Returns
19.4%
DB:VSP
1.5%
Global Mortgage REITs
-6%
DE Market
VSP Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Starwood Property Trust (VSP) 0.2% 0.3% 7.9% 19.4% 18.8% 20.5%
Global Mortgage REITs -0.2% -0.6% 1.5% 1.5% 11.3% -7.8%
DE Market 1.8% 4.2% 7.4% -6% 10.1% 15.4%
1 Year Return vs Industry and Market
  • VSP outperformed the Mortgage REITs industry which returned 1.5% over the past year.
  • VSP outperformed the Market in Germany which returned -6% over the past year.
Price Volatility
VSP
Industry
5yr Volatility vs Market

VSP Value

 Is Starwood Property Trust undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Starwood Property Trust to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Starwood Property Trust.

DB:VSP Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 4 analysts.
= Stable Book Value * Return on Equity
= $16.97 * 13.6%
$2.31
Book Value of Equity per Share Weighted future Book Value estimates from 4 analysts. $16.97
Discount Rate (Cost of Equity) See below 5%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:VSP
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Mortgage REITs Unlevered Beta Simply Wall St/ S&P Global 0.29
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.288 (1 + (1- 21%) (170.67%))
0.783
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.8 * 5.96%)
5%

Discounted Cash Flow Calculation for DB:VSP using Excess Returns Model Model

The calculations below outline how an intrinsic value for Starwood Property Trust is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:VSP Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (13.6% – 5%) * $16.97)
$1.46
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $1.46 / (5% - 0.23%)
$30.66
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $16.97 + $30.66
$47.63
DB:VSP Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:VSP represents 0.88454x of NYSE:STWD
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.88454x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 47.63 x 0.88454
€42.13
Value per share (EUR) From above. €42.13
Current discount Discount to share price of €19.96
= -1 x (€19.96 - €42.13) / €42.13
52.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Starwood Property Trust is available for.
Intrinsic value
>50%
Share price is €19.96 vs Future cash flow value of €42.13
Current Discount Checks
For Starwood Property Trust to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Starwood Property Trust's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Starwood Property Trust's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Starwood Property Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Starwood Property Trust's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:VSP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $1.44
NYSE:STWD Share Price ** NYSE (2019-04-18) in USD $22.57
Global Mortgage REITs Industry PE Ratio Median Figure of 22 Publicly-Listed Mortgage REITs Companies 11.42x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 19.59x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Starwood Property Trust.

DB:VSP PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:STWD Share Price ÷ EPS (both in USD)

= 22.57 ÷ 1.44

15.66x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Starwood Property Trust is overvalued based on earnings compared to the Global Mortgage REITs industry average.
  • Starwood Property Trust is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Starwood Property Trust's expected growth come at a high price?
Raw Data
DB:VSP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 15.66x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
9.8%per year
Global Mortgage REITs Industry PEG Ratio Median Figure of 19 Publicly-Listed Mortgage REITs Companies 1.03x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.57x

*Line of best fit is calculated by linear regression .

DB:VSP PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 15.66x ÷ 9.8%

1.59x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Starwood Property Trust is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Starwood Property Trust's assets?
Raw Data
DB:VSP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $16.70
NYSE:STWD Share Price * NYSE (2019-04-18) in USD $22.57
Global Mortgage REITs Industry PB Ratio Median Figure of 36 Publicly-Listed Mortgage REITs Companies 0.99x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.84x
DB:VSP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:STWD Share Price ÷ Book Value per Share (both in USD)

= 22.57 ÷ 16.70

1.35x

* Primary Listing of Starwood Property Trust.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Starwood Property Trust is overvalued based on assets compared to the Global Mortgage REITs industry average.
X
Value checks
We assess Starwood Property Trust's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Mortgage REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Mortgage REITs industry average (and greater than 0)? (1 check)
  5. Starwood Property Trust has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

VSP Future Performance

 How is Starwood Property Trust expected to perform in the next 1 to 3 years based on estimates from 8 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
9.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Starwood Property Trust expected to grow at an attractive rate?
  • Starwood Property Trust's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Starwood Property Trust's earnings growth is positive but not above the Germany market average.
  • Starwood Property Trust's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:VSP Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:VSP Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 9.8%
DB:VSP Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 33.3%
Global Mortgage REITs Industry Earnings Growth Rate Market Cap Weighted Average 25.3%
Global Mortgage REITs Industry Revenue Growth Rate Market Cap Weighted Average 18.6%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.5%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:VSP Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:VSP Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 559
2020-12-31 1,363 459 1
2019-12-31 1,251 438 1
DB:VSP Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 674 585 382
2018-09-30 670 150 383
2018-06-30 638 -49 387
2018-03-31 633 42 395
2017-12-31 590 -247 398
2017-09-30 553 133 427
2017-06-30 546 63 444
2017-03-31 545 229 439
2016-12-31 550 557 363
2016-09-30 559 554 338
2016-06-30 559 466 349
2016-03-31 545 629 354

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Starwood Property Trust's earnings are expected to grow by 9.8% yearly, however this is not considered high growth (20% yearly).
  • Starwood Property Trust's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:VSP Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from Starwood Property Trust Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:VSP Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.65 1.65 1.65 1.00
2020-12-31 1.62 1.91 1.41 6.00
2019-12-31 1.58 1.86 1.38 6.00
DB:VSP Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 1.44
2018-09-30 1.46
2018-06-30 1.49
2018-03-31 1.52
2017-12-31 1.53
2017-09-30 1.67
2017-06-30 1.78
2017-03-31 1.80
2016-12-31 1.52
2016-09-30 1.43
2016-06-30 1.47
2016-03-31 1.49

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Starwood Property Trust is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Starwood Property Trust's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Global market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Global market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Starwood Property Trust has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

VSP Past Performance

  How has Starwood Property Trust performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Starwood Property Trust's growth in the last year to its industry (Mortgage REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Starwood Property Trust's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Starwood Property Trust's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Starwood Property Trust's 1-year earnings growth is negative, it can't be compared to the Global Mortgage REITs industry average.
Earnings and Revenue History
Starwood Property Trust's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Starwood Property Trust Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:VSP Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 674.46 382.24 265.59
2018-09-30 669.77 382.88 259.98
2018-06-30 638.14 386.98 266.13
2018-03-31 633.15 395.34 260.26
2017-12-31 589.68 397.59 252.29
2017-09-30 553.17 426.66 250.04
2017-06-30 546.16 444.30 265.42
2017-03-31 545.01 438.64 267.44
2016-12-31 550.11 363.13 270.39
2016-09-30 558.57 338.41 277.32
2016-06-30 559.19 348.78 264.84
2016-03-31 545.07 353.82 273.89
2015-12-31 533.33 447.26 279.36
2015-09-30 531.15 441.83 270.94
2015-06-30 527.08 489.40 276.75
2015-03-31 534.07 489.97 276.70
2014-12-31 539.72 490.99 287.39
2014-09-30 550.63 502.44 289.11
2014-06-30 521.53 429.95 293.44
2014-03-31 506.27 379.59 277.23
2013-12-31 435.77 323.25 226.84
2013-09-30 369.18 276.68 165.63
2013-06-30 319.12 235.88 106.46
2013-03-31 260.38 213.94 85.24
2012-12-31 259.13 201.60 68.95
2012-09-30 210.95 184.48 24.91
2012-06-30 200.81 148.50 19.34

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Starwood Property Trust has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Starwood Property Trust used its assets less efficiently than the Global Mortgage REITs industry average last year based on Return on Assets.
  • Unable to establish if Starwood Property Trust improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Starwood Property Trust's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Mortgage REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Starwood Property Trust has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

VSP Health

 How is Starwood Property Trust's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Starwood Property Trust's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Starwood Property Trust is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Starwood Property Trust's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Starwood Property Trust's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Starwood Property Trust Company Filings, last reported 3 months ago.

DB:VSP Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 4,900.19 10,776.75 292.52
2018-09-30 4,882.28 10,720.79 325.56
2018-06-30 4,699.69 8,582.79 286.23
2018-03-31 4,704.69 7,938.82 327.22
2017-12-31 4,579.20 8,008.68 403.35
2017-09-30 4,539.73 7,656.31 452.14
2017-06-30 4,560.45 6,798.06 307.97
2017-03-31 4,543.36 6,484.87 293.56
2016-12-31 4,560.07 6,204.57 704.88
2016-09-30 4,105.38 5,577.81 535.87
2016-06-30 4,100.09 5,923.18 447.51
2016-03-31 4,090.86 5,916.14 372.16
2015-12-31 4,170.94 5,397.69 413.91
2015-09-30 4,201.18 5,161.31 409.08
2015-06-30 4,219.13 5,038.34 471.50
2015-03-31 3,880.12 5,142.90 419.32
2014-12-31 3,882.91 4,690.73 281.82
2014-09-30 3,863.96 3,863.07 340.68
2014-06-30 3,814.83 3,734.22 523.31
2014-03-31 3,215.65 3,763.00 231.09
2013-12-31 4,327.13 3,460.84 325.40
2013-09-30 4,313.43 2,521.05 546.35
2013-06-30 3,588.33 2,468.62 388.19
2013-03-31 2,780.40 1,693.23 188.01
2012-12-31 2,797.21 1,421.48 186.90
2012-09-30 2,301.24 1,423.31 155.22
2012-06-30 2,249.07 1,132.97 202.64
  • Starwood Property Trust's level of debt (219.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (80.3% vs 219.9% today).
  • Debt is not well covered by operating cash flow (5.4%, less than 20% of total debt).
  • Unable to confirm if the interest payments on Starwood Property Trust's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Starwood Property Trust's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Starwood Property Trust has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

VSP Dividends

 What is Starwood Property Trust's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
8.51%
Current annual income from Starwood Property Trust dividends. Estimated to be 8.51% next year.
If you bought €2,000 of Starwood Property Trust shares you are expected to receive €170 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Starwood Property Trust's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.43%).
  • Starwood Property Trust's dividend is above the markets top 25% of dividend payers in Germany (3.72%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:VSP Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
Global Mortgage REITs Industry Average Dividend Yield Market Cap Weighted Average of 36 Stocks 10.7%
Germany Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:VSP Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 1.92 2.00
2020-12-31 1.92 7.00
2019-12-31 1.92 8.00
DB:VSP Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2018-11-09 1.920 8.800
2018-05-04 1.920 8.760
2018-02-28 1.920 9.171
2017-08-09 1.920 8.965
2017-05-09 1.920 8.680
2017-02-23 1.920 8.494
2016-08-04 1.920 8.597
2016-05-09 1.920 9.232
2016-02-25 1.920 10.193
2015-08-04 1.920 9.490
2015-05-05 1.920 8.430
2015-02-25 1.920 7.942
2014-08-06 1.920 8.226
2014-05-06 1.920 8.034
2014-02-26 1.920 8.159
2013-11-07 1.840 6.837
2013-08-06 1.840 7.427
2013-05-08 1.840 7.204
2013-02-27 1.760 6.360
2012-11-07 1.760 7.370
2012-08-07 1.760 7.577
2012-02-29 1.760 8.409
2011-11-04 1.760 9.274
2011-08-02 1.760 9.804
2011-05-10 1.760 8.500
2011-03-01 1.680 7.496
2010-11-09 1.600 7.423
2010-08-09 1.320 6.725
2010-05-10 1.000 5.635
2010-03-05 0.880 4.618
2009-09-18 0.400 2.057

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Starwood Property Trust's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.2x coverage).
X
Income/ dividend checks
We assess Starwood Property Trust's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Starwood Property Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Starwood Property Trust has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

VSP Management

 What is the CEO of Starwood Property Trust's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Barry Sternlicht
COMPENSATION $0
AGE 57
TENURE AS CEO 10.3 years
CEO Bio

Mr. Barry Stuart Sternlicht serves as the Director at Invitation Homes Inc.; Starwood Real Estate Income Trust, Inc. and Hersha Hospitality Management LP. Mr. Sternlicht serves as the Chairman and Chief Executive Officer of SPT Management, LLC. Mr. Sternlicht has been the Chairman and Chief Executive Officer of Third Wave Acquisition Corp., since October 2007. He founded Starwood Capital Operations, LLC in 1991 and has been its Chief Executive Officer and Chairman since 1991. Mr. Sternlicht has been the Chairman and Chief Executive Officer of Starwood Property Trust, Inc. since 2009. He is the Chairman and Chief Executive Officer at Starwood Capital Group Management, L.L.C. Mr. Sternlicht serves as an Advisor of HotelTonight, Inc. He founded Starwood Hotels & Resorts Worldwide Inc. in 1995 and served as its Executive Chairman from January 1995 to May 2005, Chief Executive Officer from January 1995 to October 1, 2004 and Chief Design Officer since September 21, 2004. He served as the Chairman and Partner of BLB Investors, L.L.C. He served as the Chairman of the Board and Chief Executive Officer at Starwood Property Trust since January 1995. He served as the Chief Executive Officer and President of Starwood Waypoint Residential Trust until February 3, 2014. He served as the President at Starwood Property Trust, Inc. For the 22 years, he has structured more than 400 separate investment transactions with an asset value of more than $40 billion. He was credited as a dynamic and innovative hotel leader, creating new products and programs with immediate global appeal. He created and launched W Hotels and built St. Regis Hotels into a brand. Some of his other innovations include the creation of Westin's Heavenly Bed, Heavenly Bath, Westin Workout and Starwood Preferred Guest. Mr. Sternlicht served as the Chief Executive Officer of iStar Financial, Inc. from September 1996 to November 1997. He spent much of the 1980s at JMB Realty Corporation. He has been Chairman at Colony Starwood Homes since June 7, 2017 and served as its Co-Chairman since January 5, 2016 until June 7, 2017. He serves as the Chairman at Starwood Energy Group Global, LLC, which he founded in 2005. He serves as the Chairman of Société du Louvre, Baccarat S.A., Starwood Mortgage Trust, Starwood Retail Partners, LLC, Sheraton Hotels & Resorts Worldwide, Inc., Groupe du Louvre, SAS and Louvre Hotels SAS. He has been the Chairman of the Board of Trustees at Starwood Waypoint Residential Trust since February 2014. He has been the Chairman and Director of Riviera Holdings Corporation since April 1, 2011. He served as the Chairman of TRI Pointe Group, Inc. since January 30, 2013 until March 27, 2017. He served as the Chairman at TRI Pointe Homes, Inc. since January 30, 2013. He served as the Chairman of the Board at Robin Hood Foundation from 2009 to January 30, 2015. He served as the Chairman Emeritus at Starwood Hotels & Resorts Worldwide Inc. since May 5, 2005 and served as its Trustee. He served as the Chairman of the Board of iStar Financial, Inc. (Alternative Name: iStar Inc.) from September 1996 to April 2000. He served as Chairman of Starwood Waypoint Residential Trust and SWAY. He has been Trustee at Colony Starwood Homes since January 5, 2016. He has been an Independent Director of The Estée Lauder Companies Inc. since July 13, 2004. He has been a Director of Starwood Property Trust, Inc. since 2009, Third Wave Acquisition Corp. since October 2007 and Granahan McCourt Acquisition Corporation since July 10, 2006. He serves as a Director of A.S. Roma, Baccarat S.A. He serves as a Director of DC Star Multifamily Clary, Inc., DC Star Multifamily Lorton, Inc., DC Star Multifamily Saddle, Inc., DC Star Multifamily Reserve, Inc., DC Star Multifamily West, Inc., DC Star Multifamily Amber, Inc., DC Star Multifamily Regency, Inc. and Non-Executive Director of A.S. Roma S.P.A. He is a Member of the Presidential Tourism & Travel Advisory Board, the Young President Organization, the World Travel & Tourism Council, the Urban Land Institute, Healthmarket.com, LOG Commercial Properties e Participações S.A., the Juvenile Diabetes Research Foundation's National Leadership Advocacy Program, Kids in Crisis and The Harvard Club. He serves as Chairman of the Board at Sheraton Operating Corporation. He serves as a Director of Channel 13, the Greenwich YMCA, Business Club of New York City, and the Council for Christian-Jewish Understanding and Junior Achievement for Fairfield County, Connecticut. He serves on the Board of Directors of National Golf, Mammoth Mountain and Ellen Tracy and Field & Stream. He also serves on the Boards of the Pension Real Estate Association, Dreamland Film & Performing Arts Center, Dreamland Theatre and the Juvenile Diabetes Research Foundation's National Leadership Advocacy Program. Mr. Sternlicht has been a Member of Advisory of Council at newBrandAnalytics, Inc since May 5, 2005. He serves on the Advisory Boards of J.P. Morgan Chase and Co., and EuroHypo AG. He serves as a Member of the Board of Advisors of Directors of the Juvenile Diabetes Research Foundation and Thayer Ventures. He serves on the National Advisory Board of JPMorgan Chase and the Advisory Board of Eurohypo Bank. He serves as a Trustee of Thirteen/WNET and the Board of Trustees of Brown University. He serves as a Member of International Advisory Board for Germany at Hypothekenbank Frankfurt Aktiengesellschaft. He serves on the boards of the Pension Real Estate Association, the Dreamland Film & Performing Arts Center and the Executive Advisory Board of Americans for the Arts. He served as a Director of TRI Pointe Group, Inc. until March 27, 2017. He served as a Director of U.S. Franchise Systems, Inc. since September 1995. He served as a Director of HEI Exchange, Inc., Robin Hood Foundation, BLB Investors, L.L.C., Starwood Capital Group and Healthmarket, Inc. Mr. Sternlicht served as Director of TRI Pointe Homes, Inc. since January 30, 2013. He served as a Director at Starwood Hotels & Resorts Worldwide Inc., from December 1994 to May 5, 2005. He served as a Director and a Trustee of the Trust since December 1994. He served as a Director of Restoration Hardware Holdings, Inc. from November 1, 2012 to November 2014. He served as a Director of iStar Financial, Inc. since September 1996. Mr. Sternlicht served as a Director of The Harvard Business School Club of New York, Inc. In 2010, he was named Executive of the Year and Investor of the Year by Commercial Property Executive. In 2005, He was named America's Best Lodging CEO by Institutional Investor magazine. He received the Preston Robert Tisch Distinguished Industry Leadership Award from New York University School for Hospitality, Tourism & Travel Administration, the CEO Diversity Award by Diversity Best Practices/Business Women's Network, the Lifetime Achievement Award from the Association of Travel Marketing Executives, the Hospitality Heritage Award from the American Hotel and Lod

CEO Compensation
  • Insufficient data for Barry to compare compensation growth.
  • Barry's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Starwood Property Trust management team in years:

4.6
Average Tenure
47.5
Average Age
  • The tenure for the Starwood Property Trust management team is about average.
Management Team

Barry Sternlicht

TITLE
Chairman & CEO
AGE
57
TENURE
10.3 yrs

Jeff DiModica

TITLE
President & MD
COMPENSATION
$4M
AGE
51
TENURE
4.6 yrs

Rina Paniry

TITLE
CFO, Treasurer & Chief Accounting Officer
COMPENSATION
$4M
AGE
44
TENURE
4.9 yrs

Andrew Sossen

TITLE
COO, General Counsel
COMPENSATION
$2M
AGE
41
TENURE
7.8 yrs

Zach Tanenbaum

TITLE
Director of Investor Relations

Mark Cagley

TITLE
Chief Credit Officer
TENURE
3.8 yrs

Dennis Schuh

TITLE
Chief Originations Officer
TENURE
2.8 yrs

Cary Carpenter

TITLE
Managing Director

Denise Tait

TITLE
President of Starwood Infrastructure Finance
TENURE
0.4 yrs

Rich Highfield

TITLE
President of Starwood Mortgage Capital
Board of Directors Tenure

Average tenure and age of the Starwood Property Trust board of directors in years:

9.3
Average Tenure
61
Average Age
  • The tenure for the Starwood Property Trust board of directors is about average.
Board of Directors

Barry Sternlicht

TITLE
Chairman & CEO
AGE
57
TENURE
10.3 yrs

Larry Brown

TITLE
Executive Chairman of Starwood Mortgage Capital
TENURE
0.3 yrs

Skip Bronson

TITLE
Lead Independent Director
COMPENSATION
$278K
AGE
73

Strauss Zelnick

TITLE
Director
COMPENSATION
$250K
AGE
61
TENURE
10.3 yrs

Jeff Dishner

TITLE
Director
AGE
53
TENURE
10.3 yrs

Camille Douglas

TITLE
Director
COMPENSATION
$223K
AGE
66
TENURE
9.3 yrs

Sol Kumin

TITLE
Director
COMPENSATION
$220K
AGE
42
TENURE
4.8 yrs

Fred Ridley

TITLE
Independent Director
COMPENSATION
$161K
AGE
65
TENURE
0.6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Starwood Property Trust's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Starwood Property Trust has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

VSP News

Simply Wall St News

VSP Company Info

Description

Starwood Property Trust, Inc. operates as a real estate investment trust (REIT) in the United States and Europe. It operates through four segments: Commercial and Residential Lending, Infrastructure Lending, Real Estate Property, and Real Estate Investing and Servicing. The Commercial and Residential Lending segment originates, acquires, finances, and manages commercial and residential first mortgages, subordinated mortgages, mezzanine loans, preferred equity, commercial mortgage-backed securities (CMBS), residential mortgage-backed securities, residential mortgage loans, and other real estate and real estate-related debt investments. The Infrastructure lending originates, acquires, finances, and manages infrastructure debt investments. The Real Estate Property segment acquires and manages equity interests in commercial real estate properties, including multi-family properties. The Real Estate Investing and Servicing segment manages and works out problem assets; acquires and manages unrated, investment grade, and non-investment grade rated CMBS, including subordinated interests of securitization and re-securitization transactions; originates conduit loans for the primary purpose of selling these loans into securitization transactions; and acquires commercial real estate assets. The company qualifies as a REIT for federal income tax purposes and would not be subject to federal corporate income taxes, if it distributes at least 90% of its taxable income to its stockholders. Starwood Property Trust, Inc. was founded in 2009 and is headquartered in Greenwich, Connecticut.

Details
Name: Starwood Property Trust, Inc.
VSP
Exchange: DB
Founded: 2009
$5,614,738,075
279,768,290
Website: http://www.starwoodpropertytrust.com
Address: Starwood Property Trust, Inc.
591 West Putnam Avenue,
Greenwich,
Connecticut, 06830,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE STWD Common Stock New York Stock Exchange US USD 12. Aug 2009
DB VSP Common Stock Deutsche Boerse AG DE EUR 12. Aug 2009
LSE 0L9F Common Stock London Stock Exchange GB USD 12. Aug 2009
BMV STWD * Common Stock Bolsa Mexicana de Valores MX MXN 12. Aug 2009
Number of employees
Current staff
Staff numbers
290
Starwood Property Trust employees.
Industry
Mortgage REITs
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/20 21:15
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2019/02/28
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.