Starwood Property Trust publishes third-quarter 2026 earnings call transcript
STWD•Starwood Property Trust CEO Barry Stuart Sternlicht said the company will consider cutting its dividend as asset resolutions are delayed. Distributable earnings were $0.31 per share, or $0.41 excluding specified realized gains and losses, below the $0.48 dividend.
1. Dividend under consideration
CEO Barry Stuart Sternlicht said Starwood Property Trust will consider cutting its dividend, citing delayed asset resolutions. On the November 6 earnings call, the company reported distributable earnings of $0.31 per share, or $0.41 excluding realized commercial lending resolution gains and losses, compared with a $0.48 dividend.
2. Reserves and net lease plans
Commercial lending reserves rose $369 million, primarily reflecting higher interest-rate assumptions, while undepreciated book value was $17.22 per share. Management is considering outside capital or a spin-off for the net lease business, citing funding costs that constrain growth.
