Earnings Releases·Nov 6, 2026, 6:56 AM ET

Starwood Property Trust — Q3 2026 Earnings Summary

Reported a GAAP net loss of $389.7 million driven by a $336.6 million credit loss provision and $32.2 million in non-cash property impairments; Distributable Earnings (DE) were $116.8 million ($0.31/share), or $155.2 million ($0.41/share) excluding realized commercial lending gains/losses.
Commercial lending investments totaled $2.4 billion, the highest level in four years, bringing the commercial lending portfolio to a record $17.8 billion, while total assets reached $57.96 billion.
Management expects to resolve nearly half of the underperforming assets held at the start of the year and anticipates continuing to resolve distressed loans while making meaningful investments.
The company repurchased $108 million of common shares and declared a $0.48 per share dividend, while successfully refinancing approximately $2.1 billion of debt at rates below current market levels.