Starwood Property Trust posted Q2 GAAP net income of $6.6 million, or $0.01 per diluted share; declared a $0.48 dividend.
Distributable Earnings, a non-GAAP measure, totaled $151.5 million, or $0.40 per diluted share.
Assets, investment activity and portfolio update
Total assets climbed to a record $31.8 billion, including $17.3 billion of commercial lending assets; the company invested $2.5 billion in the quarter.
It repurchased $30 million of common shares in the first six months; invested $6.7 billion through July at double-digit return on equity.
CEO Barry Sternlicht said the company expects to resolve nearly $900 million of underperforming assets by year-end or shortly thereafter.
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