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Starwood Property Trust posts Q2 core earnings of $136.8M

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Starwood Property Trust posts Q2 core earnings of $136.8M

Starwood Property Trust Inc. reported second-quarter core earnings of $136.8 million, or 52 cents per share.

The S&P Capital IQ consensus normalized EPS estimate for the quarter was 51 cents.

GAAP net income attributable to the company was $117.4 million, or 44 cents per share, for the quarter.

The lending segment had core earnings of $99.5 million, or 38 cents per share, for the quarter. Core earnings in the investing and servicing segment were booked at $70.9 million, or 27 cents per share, and the property segment reported core earnings were $17.8 million, or 7 cents per share.

The company expanded borrowing capacity with membership in Federal Home Loan Bank of Chicago. During the quarter, the company deployed $1.5 billion capital. The company also expects gains from its investment in online real estate company Ten-X, which entered into a strategic transaction.