Starwood Property (STWD) Stock Closed Up, JMP Increased Price Target
NEW YORK (TheStreet) -- Shares of Starwood Property Trust (STWD) - Get Report closed up 0.62% to $20.30 Thursday as its price target was raised to $23 from $21 and its "market outperform" rating was maintained at JMP Securities.
The firm's price target increase came after Starwood's 2016 first quarter results were in line with guidance, reported before Monday's market open.
The company reported adjusted earnings of 50 cents per share on revenue of $176.2 million for the first quarter, meeting Wall Street estimates.
"The first quarter was certainly a difficult period to navigate, but recognizing a temporary dislocation in the credit markets, management was patient with capital deployment, despite the resulting short-term earnings drag from being under-invested," JMP analysts said in an investor note, adding Starwood's first quarter earnings fell a penny short of their own expectations.
As the company received high loan repayment levels early in its second quarter, near-term outlook will remain on the "conservative side," the firm noted.
Starwood is a real estate investment trust headquartered in Greenwich, CT.
Separately, TheStreet Ratings rated Starwood Property Trust as a "hold" with a score of C+.
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon.
Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
The primary factors that have impacted this rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.
The company's strengths can be seen in multiple areas, such as its revenue growth, attractive valuation levels and good cash flow from operations. However, as a counter to these strengths, TheStreet Ratings also finds weaknesses including disappointing return on equity and a generally disappointing performance in the stock itself.
You can view the full analysis from the report here: STWD
