Net Income per Share

9 Months Ended

Sep. 30, 2011

Net Income per Share

Net Income per Share

11. Net Income per Share

Net income per share for the three and nine month periods ended September 30, 2011, is computed as follows (amounts in thousands except share and per share):

	Three-Months Ended September 30, 2011		Nine-Months Ended September 30, 2011
Basic and Diluted:
Net income attributable to Starwood Property Trust, Inc.	$	14,478	$	78,349
Weighted average number of shares of common stock outstanding	93,249,249		82,234,976
Basic net income (loss) per share	$	0.16	$	0.95
Weighted average number of diluted shares outstanding (1)	94,596,978		83,755,295
Diluted net income per share	$	0.15	$	0.94

(1) The weighted average number of diluted shares outstanding includes the impact of unvested restricted stock units totaling 1,175,572 and 702,268 as of September 30, 2011 and 2010, respectively.

Net income per share for the three and nine month periods ended September 30, 2010, is computed as follows (amounts in thousands except share and per share):

	Three-Months Ended September 30, 2010		Nine-Months Ended September 30, 2010
Basic and Diluted:
Net income attributable to Starwood Property Trust, Inc.	$	22,683	$	39,473
Weighted average number of shares of common stock outstanding	47,837,616		47,750,058
Basic net income (loss) per share	$	0.47	$	0.83
Weighted average number of diluted shares outstanding (1)	48,626,550		48,626,550
Diluted net income per share	$	0.47	$	0.81

(1) The weighted average number of diluted shares outstanding includes the impact of unvested restricted stock units totaling 1,175,572 and 702,268 as of September 30, 2011 and 2010, respectively.