Net Income per Share (Tables)

9 Months Ended

Sep. 30, 2011

Net Income per Share

Net income 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.

	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.