Q3 25 EPS
$0.40
MISS 8.97%
Est. $0.44
Q3 25 Revenue
$488.9M
BEAT +1.91%
Est. $479.7M
vs S&P Since Q3 25
-13.4%
TRAILING MARKET
STWD -3.0% vs S&P +10.5%
Market Reaction
Did STWD Beat Earnings? Q3 2025 Results
Starwood Property Trust delivered a mixed third quarter, posting distributable earnings of $0.40 per diluted share and missing the $0.44 analyst consensus by 8.97%, even as revenue of $488.88 million edged past the $479.70 million estimate by 1.91% a… Read more Starwood Property Trust delivered a mixed third quarter, posting distributable earnings of $0.40 per diluted share and missing the $0.44 analyst consensus by 8.97%, even as revenue of $488.88 million edged past the $479.70 million estimate by 1.91% and held roughly flat with a year ago, up just 0.2%. The primary engine behind the quarter was an extraordinary pace of capital deployment, with $4.60 billion invested during Q3 alone and $10.20 billion across the first nine months of 2025, anchored by the acquisition of Fundamental, a $2.20 billion portfolio of triple net lease assets that CEO Barry Sternlicht framed as a natural extension of the company's diversification strategy. Commercial and Residential Lending remained the dominant earnings driver, generating $146.88 million in segment net income, while record liquidity of $2.20 billion and what management described as sector-leading capital markets access position the company to pursue further growth as interest rates decline and transaction volumes recover. The quarterly dividend of $0.48 per share, sustained for over a decade, was maintained.
Key Takeaways
- • Acquisition of Fundamental triple net lease portfolio valued at $2.2 billion
- • Record $0.8 billion in Infrastructure Lending during the quarter
- • $1.4 billion deployed in Commercial Lending
- • Interest income from loans of $395.4 million as largest revenue driver
- • Record liquidity of $2.2 billion
STWD YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
STWD Revenue by Segment
With YoY comparisons, source: SEC Filings
“At the time of our IPO in 2009, we committed to diversify our company. We once again delivered by acquiring Fundamental, a $2.2 billion portfolio of durable, long-term, high quality net lease assets and a best-in-class team. Leveraging the resources of our manager, Starwood Capital Group, we believe we can meaningfully grow this net lease portfolio accretively in the coming years.”
— Barry Sternlicht, Q3 2025 Earnings Press Release
STWD Earnings Trends
STWD vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
STWD EPS Trend
Earnings per share: estimate vs actual
STWD Revenue Trend
Quarterly revenue: estimate vs actual
STWD Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $0.42 | $0.39 | -8.06% | $512.5M | +3.27% |
| Q4 25 BEAT FY | $0.41 | $0.42 | +1.74% | $492.9M | +3.53% |
| FY Full Year | $1.68 | $1.69 | +0.34% | $1.84B | +1.82% |
| Q3 25 MISS | $0.44 | $0.40 | -8.97% | $488.9M | +1.91% |
| Q2 25 MISS | $0.38 | $0.38 | -0.47% | $444.3M | -4.61% |
| Q1 25 BEAT | $0.45 | $0.45 | +0.45% | $418.2M | -15.18% |