GREENWICH, Conn. (AP) — Starwood Property Trust Inc. (STWD) on Wednesday reported fourth-quarter profit of $91.5 million.
On a per-share basis, the Greenwich, Connecticut-based company said it had profit of 40 cents. Earnings, adjusted for non-recurring costs and stock option expense, were 50 cents per share.
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The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.
The commercial real estate investment trust posted revenue of $132.9 million in the period.
For the year, the company reported profit of $495 million, or $2.24 per share. Revenue was reported as $541.8 million.
Starwood Property Trust expects full-year earnings in the range of $2.05 to $2.25 per share.
Starwood Property Trust shares have climbed 4.5 percent since the beginning of the year. The stock has increased 1.5 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on STWD at http://www.zacks.com/ap/STWD
Keywords: Starwood Property Trust, Earnings Report