0001465128-26-000028.txt : 20260806 0001465128-26-000028.hdr.sgml : 20260806 20260806065609 ACCESSION NUMBER: 0001465128-26-000028 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20260806 ITEM INFORMATION: Results of Operations and Financial Condition FILED AS OF DATE: 20260806 DATE AS OF CHANGE: 20260806 FILER: COMPANY DATA: COMPANY CONFORMED NAME: STARWOOD PROPERTY TRUST, INC. CENTRAL INDEX KEY: 0001465128 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] ORGANIZATION NAME: 05 Real Estate & Construction EIN: 270247747 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-34436 FILM NUMBER: 261245821 BUSINESS ADDRESS: STREET 1: 2340 COLLINS AVENUE STREET 2: SUITE 700 CITY: MIAMI BEACH STATE: FL ZIP: 33139 BUSINESS PHONE: 305.695.5500 MAIL ADDRESS: STREET 1: 2340 COLLINS AVENUE STREET 2: SUITE 700 CITY: MIAMI BEACH STATE: FL ZIP: 33139 8-K 1 stwd-20260806.htm 8-K stwd-20260806
0001465128FALSE00014651282026-08-062026-08-06

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 6, 2026

Starwood Property Trust, Inc.
(Exact name of registrant as specified in its charter)

Maryland
001-34436
27-0247747
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)

2340 Collins Avenue, Suite 700
Miami Beach, FL
33139
(Address of principal
(Zip Code)
executive offices)
Registrant’s telephone number,
including area code:
(305) 695-5500

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common stock, $0.01 par value per share
STWD
New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐



Item 2.02. Results of Operations and Financial Condition.

On August 6, 2026, Starwood Property Trust, Inc. issued a press release announcing its financial results for the quarter ended June 30, 2026. A copy of the press release is attached as Exhibit 99.1 hereto and incorporated herein by reference.
 
Item 9.01. Financial Statements and Exhibits.

(d)    Exhibits

Exhibit
Number

Description
99.1
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)



2



EXHIBIT INDEX

Exhibit
Number
Description
99.1



3



SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: August 6, 2026
STARWOOD PROPERTY TRUST, INC.
By:
/s/ RINA PANIRY
Name:
Rina Paniry
Title:
Chief Financial Officer, Treasurer, Chief Accounting Officer and Principal Financial Officer

4

EX-99.1 2 stwd_pressrelease-q22026.htm EX-99.1 Document
image_0a.jpg
Exhibit 99.1
For Immediate Release
Starwood Property Trust Reports Results for
Quarter Ended June 30, 2026
– Quarterly GAAP Earnings of $0.01 and Distributable Earnings (DE) of $0.40 per Diluted Share –
– Invested $2.5 Billion in the Quarter and $6.7 Billion through July –
– Record Total Assets of $31.8 Billion and Commercial Lending Assets of $17.3 Billion –
– Repurchased $30 Million of Common Shares in the Six Months –
– Dividend of $0.48 per Share –
– Awarded Nareit Gold Investor CARE Award for 10th Time in 12 Years –
MIAMI BEACH, FL, August 6, 2026 /PRNewswire/ -- Starwood Property Trust, Inc. (NYSE: STWD) today announced operating results for the fiscal quarter ended June 30, 2026. The Company delivered second quarter GAAP net income of $6.6 million, and Distributable Earnings (a non-GAAP financial measure) was $151.5 million. See reconciliation tables below.

“Real estate fundamentals are improving steadily in almost every asset class, supported by a drop in construction and broad and robust economic growth. This provides a more constructive backdrop to deploy capital and improving credit in our loan portfolio. For us importantly, it provides a solid foundation to support the values of our real estate owned and underperforming loan assets. We expect to resolve nearly $900 million of underperforming assets by year end or shortly thereafter, returning the trapped equity to higher use cases across all our business lines,” said Barry Sternlicht, Chairman and CEO of Starwood Property Trust.

“We have invested $6.7 billion through July, at double digit return on equity, and our $2.1 billion of corporate debt transactions in the quarter extends our weighted average corporate debt maturity to 3.7 years and lowers our cost of funds, solidifying an already strong balance sheet. This positions us well to continue deploying capital and driving growth across all our business lines,” added Jeffrey DiModica, President of Starwood Property Trust.

Supplemental Schedules
The Company has published supplemental earnings schedules on its website in order to provide additional disclosure and financial information for the benefit of the Company’s stakeholders. Specifically, these materials can be found on the Company’s website in the Investor Relations section under “Quarterly Results” at www.starwoodpropertytrust.com.
1



Webcast and Conference Call Information
The Company will host a live webcast and conference call on Thursday, August 6, 2026, at 10:00 a.m. Eastern Time. To listen to a live broadcast, access the site at least 15 minutes prior to the scheduled start time in order to register, download and install any necessary audio software. The webcast is available at www.starwoodpropertytrust.com in the Investor Relations section of the website. The Company encourages use of the webcast due to potential extended wait times to access the conference call via dial-in. 
To Participate via Telephone Conference Call:
Dial in at least 15 minutes prior to start time.
Domestic: 1-877-407-9039
International: 1-201-689-8470
Conference Call Playback:
Domestic: 1-844-512-2921
International: 1-412-317-6671
Passcode: 13758023
The playback can be accessed through August 20, 2026.
About Starwood Property Trust, Inc.
Starwood Property Trust (NYSE: STWD), an affiliate of global private investment firm Starwood Capital Group, is a leading diversified finance company with a core focus on the real estate and infrastructure sectors. As of June 30, 2026, the Company has successfully deployed $120 billion of capital since inception and manages a portfolio of $32 billion across debt and equity investments. Starwood Property Trust’s investment objective is to generate attractive and stable returns for shareholders, primarily through dividends, by leveraging a premiere global organization to identify and execute on the best risk adjusted returning investments across its target assets. Additional information can be found at www.starwoodpropertytrust.com.
Forward-Looking Statements
Statements in this press release which are not historical fact may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are developed by combining currently available information with our beliefs and assumptions and are generally identified by the words “believe,” “expect,” “anticipate” and other similar expressions.  Although Starwood Property Trust, Inc. believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, completion of pending investments and financings, continued ability to acquire additional investments, competition within the finance and real estate industries, availability of financing, and other risks detailed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as well as other risks and uncertainties set forth from time to time in the Company’s reports filed with the SEC, including its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026.
In light of these risks and uncertainties, there can be no assurances that the results referred to in the forward-looking statements contained herein will in fact occur. Except to the extent required by applicable law or regulation, we undertake no obligation to, and expressly disclaim any such obligation to, update or revise any forward-looking statements to reflect changed assumptions, the occurrence of anticipated or unanticipated events, changes to future results over time or otherwise.
2



Additional information can be found on the Company’s website at www.starwoodpropertytrust.com.

Contact:
Zachary Tanenbaum
Starwood Property Trust
Phone: 203-422-7788
Email: ztanenbaum@starwood.com
3



Starwood Property Trust, Inc. and Subsidiaries
Condensed Consolidated Statement of Operations by Segment
For the three months ended June 30, 2026
(Amounts in thousands)
Commercial and
Residential
Lending
Segment
Infrastructure
Lending
Segment
Property
Segment
Investing
and Servicing
Segment
Corporate
Subtotal
Securitization
VIEs
Total
Revenues:
Interest income from loans
$
327,151 
$
66,991 
$
— 
$
4,273 
$
— 
$
398,415 
$
— 
$
398,415 
Interest income from investment securities
15,344 
481 
— 
22,170 
— 
37,995 
(33,245)
4,750 
Servicing fees
111 
— 
— 
20,476 
— 
20,587 
(3,920)
16,667 
Rental income
19,808 
— 
63,827 
4,219 
— 
87,854 
— 
87,854 
Other revenues
1,800 
1,474 
362 
1,524 
822 
5,982 
— 
5,982 
Total revenues
364,214 
68,946 
64,189 
52,662 
822 
550,833 
(37,165)
513,668 
Costs and expenses:
Management fees
165 
— 
— 
— 
30,392 
30,557 
— 
30,557 
Interest expense
160,750 
38,625 
28,775 
9,117 
107,564 
344,831 
(254)
344,577 
General and administrative
14,979 
6,015 
7,925 
23,661 
4,114 
56,694 
— 
56,694 
Costs of rental operations
16,161 
— 
7,254 
2,898 
— 
26,313 
— 
26,313 
Depreciation and amortization
4,780 
9 
29,137 
1,082 
252 
35,260 
— 
35,260 
Credit loss provision, net
29,816 
348 
— 
— 
— 
30,164 
— 
30,164 
Other expense
88 
787 
227 
101 
— 
1,203 
— 
1,203 
Total costs and expenses
226,739 
45,784 
73,318 
36,859 
142,322 
525,022 
(254)
524,768 
Other income (loss):
Change in net assets related to consolidated VIEs
— 
— 
— 
— 
— 
— 
33,087 
33,087 
Change in fair value of servicing rights
— 
— 
— 
1,018 
— 
1,018 
726 
1,744 
Change in fair value of investment securities, net
(1,587)
— 
— 
(1,717)
— 
(3,304)
3,252 
(52)
Change in fair value of mortgage loans, net
(12,711)
— 
— 
12,650 
— 
(61)
— 
(61)
Income from affordable housing fund investments
— 
— 
4,929 
— 
— 
4,929 
— 
4,929 
Earnings from unconsolidated entities
— 
2,677 
— 
193 
— 
2,870 
(154)
2,716 
Gain on sale of investments and other assets, net
88 
— 
27 
2,264 
— 
2,379 
— 
2,379 
Gain (loss) on derivative financial instruments, net
21,529 
350 
8,354 
983 
(34,240)
(3,024)
— 
(3,024)
Foreign currency (loss) gain, net
(5,719)
— 
13 
— 
— 
(5,706)
— 
(5,706)
Other (loss) income, net
(2,597)
— 
(1,092)
6 
— 
(3,683)
— 
(3,683)
Total other (loss) income
(997)
3,027 
12,231 
15,397 
(34,240)
(4,582)
36,911 
32,329 
Income (loss) before income taxes
136,478 
26,189 
3,102 
31,200 
(175,740)
21,229 
— 
21,229 
Income tax (provision) benefit
(2,536)
(95)
8 
(3,601)
— 
(6,224)
— 
(6,224)
Net income (loss)
133,942 
26,094 
3,110 
27,599 
(175,740)
15,005 
— 
15,005 
Net income attributable to non-controlling interests
(4)
— 
(5,325)
(3,119)
— 
(8,448)
— 
(8,448)
Net income (loss) attributable to Starwood Property Trust, Inc.
$
133,938 
$
26,094 
$
(2,215)
$
24,480 
$
(175,740)
$
6,557 
$
— 
$
6,557 
4



Definition of Distributable Earnings
Distributable Earnings, a non-GAAP financial measure, is used to compute the Company’s incentive fees to its external manager and is an appropriate supplemental disclosure for a mortgage REIT. For the Company’s purposes, Distributable Earnings is defined as GAAP net income (loss) excluding non-cash equity compensation expense, the incentive fee due to the Company’s external manager, acquisition costs for successful acquisitions, depreciation and amortization of real estate and associated intangibles, any unrealized gains, losses or other non-cash items recorded in net income (loss) for the period and, to the extent deducted from net income (loss), distributions payable with respect to equity securities of subsidiaries issued in exchange for properties or interests therein. The amount is adjusted to exclude one-time events pursuant to changes in GAAP and certain other non-cash adjustments as determined by the Company’s external manager and approved by a majority of the Company’s independent directors. Refer to the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 for additional information regarding Distributable Earnings.
Reconciliation of Net Income to Distributable Earnings
For the three months ended June 30, 2026
(Amounts in thousands except per share data)
Commercial and
Residential
Lending
Segment
Infrastructure
Lending
Segment
Property
Segment
Investing
and Servicing
Segment
Corporate
Total
Net income (loss) attributable to Starwood Property Trust, Inc.
$
133,938 
$
26,094 
$
(2,215)
$
24,480 
$
(175,740)
$
6,557 
Add / (Deduct):
Non-controlling interests attributable to Woodstar II Class A Units
— 
— 
4,629 
— 
— 
4,629 
Non-controlling interests attributable to unrealized gains/losses
— 
— 
(2,724)
(2,226)
— 
(4,950)
Non-cash equity compensation expense
2,585 
788 
2,014 
1,449 
6,477 
13,313 
Depreciation and amortization
4,817 
— 
29,632 
1,121 
— 
35,570 
Straight-line rent adjustment
— 
— 
(1,697)
57 
— 
(1,640)
Interest income adjustment for loans and securities
4,675 
— 
— 
12,686 
— 
17,361 
Consolidated income tax provision (benefit) associated with fair value adjustments
2,536 
95 
(8)
3,601 
— 
6,224 
Other non-cash items
5 
447 
(82)
(407)
— 
(37)
Reversal of GAAP unrealized and realized (gains) / losses on:
Loans
12,711 
— 
— 
(12,650)
— 
61 
Credit loss provision, net
29,816 
348 
— 
— 
— 
30,164 
Securities
1,587 
— 
— 
1,717 
— 
3,304 
Woodstar Fund investments
— 
— 
(4,929)
— 
— 
(4,929)
Derivatives
(21,529)
(350)
(8,354)
(983)
34,240 
3,024 
Foreign currency
5,719 
— 
(13)
— 
— 
5,706 
Earnings from unconsolidated entities
— 
(2,677)
— 
(193)
— 
(2,870)
Sales of properties
(32)
— 
(27)
(2,264)
— 
(2,323)
Recognition of Distributable realized gains / (losses) on:
Loans
(454)
— 
— 
12,636 
— 
12,182 
Securities
(51)
— 
— 
(682)
— 
(733)
Woodstar Fund investments
— 
— 
18,208 
— 
— 
18,208 
Derivatives
8,570 
248 
(235)
1,650 
(2,907)
7,326 
Foreign currency
803 
— 
13 
— 
— 
816 
Earnings from unconsolidated entities
— 
2,146 
— 
469 
— 
2,615 
Sales of properties
32 
— 
(35)
1,928 
— 
1,925 
Distributable Earnings (Loss)
$
185,728 
$
27,139 
$
34,177 
$
42,389 
$
(137,930)
$
151,503 
Distributable Earnings (Loss) per Weighted Average Diluted Share
$
0.49 
$
0.07 
$
0.09 
$
0.11 
$
(0.36)
$
0.40 
5



Starwood Property Trust, Inc. and Subsidiaries
Condensed Consolidated Statement of Operations by Segment
For the six months ended June 30, 2026
(Amounts in thousands)
Commercial and
Residential
Lending
Segment
Infrastructure
Lending
Segment
Property
Segment
Investing
and Servicing
Segment
Corporate
Subtotal
Securitization
VIEs
Total
Revenues:
Interest income from loans
$
637,465 
$
128,429 
$
— 
$
6,332 
$
— 
$
772,226 
$
— 
$
772,226 
Interest income from investment securities
30,981 
865 
— 
46,103 
— 
77,949 
(67,761)
10,188 
Servicing fees
223 
— 
— 
72,095 
— 
72,318 
(7,631)
64,687 
Rental income
36,113 
— 
124,670 
7,042 
— 
167,825 
— 
167,825 
Other revenues
4,013 
2,947 
819 
1,927 
1,492 
11,198 
— 
11,198 
Total revenues
708,795 
132,241 
125,489 
133,499 
1,492 
1,101,516 
(75,392)
1,026,124 
Costs and expenses:
Management fees
197 
— 
— 
— 
66,542 
66,739 
— 
66,739 
Interest expense
315,673 
75,321 
56,726 
15,943 
210,218 
673,881 
(398)
673,483 
General and administrative
31,771 
11,933 
16,793 
45,589 
8,941 
115,027 
— 
115,027 
Costs of rental operations
29,377 
— 
14,514 
5,556 
— 
49,447 
— 
49,447 
Depreciation and amortization
9,017 
19 
57,215 
2,232 
503 
68,986 
— 
68,986 
Credit loss provision (reversal), net
30,402 
(615)
— 
— 
— 
29,787 
— 
29,787 
Other expense
165 
899 
299 
241 
— 
1,604 
— 
1,604 
Total costs and expenses
416,602 
87,557 
145,547 
69,561 
286,204 
1,005,471 
(398)
1,005,073 
Other income (loss):
Change in net assets related to consolidated VIEs
— 
— 
— 
— 
— 
— 
65,589 
65,589 
Change in fair value of servicing rights
— 
— 
— 
2,022 
— 
2,022 
(815)
1,207 
Change in fair value of investment securities, net
(1,136)
— 
— 
(9,638)
— 
(10,774)
10,811 
37 
Change in fair value of mortgage loans, net
(33,691)
— 
— 
20,962 
— 
(12,729)
— 
(12,729)
Income from affordable housing fund investments
— 
— 
17,393 
— 
— 
17,393 
— 
17,393 
Earnings from unconsolidated entities
— 
3,520 
— 
605 
— 
4,125 
(591)
3,534 
Gain on sale of investments and other assets, net
298 
— 
496 
2,264 
— 
3,058 
— 
3,058 
Gain (loss) on derivative financial instruments, net
37,892 
439 
10,630 
1,225 
(55,673)
(5,487)
— 
(5,487)
Foreign currency (loss) gain, net
(11,834)
— 
38 
— 
— 
(11,796)
— 
(11,796)
Loss on extinguishment of debt
— 
(31)
(304)
— 
— 
(335)
— 
(335)
Other (loss) income, net
(5,472)
51 
(1,401)
6 
— 
(6,816)
— 
(6,816)
Total other (loss) income
(13,943)
3,979 
26,852 
17,446 
(55,673)
(21,339)
74,994 
53,655 
Income (loss) before income taxes
278,250 
48,663 
6,794 
81,384 
(340,385)
74,706 
— 
74,706 
Income tax benefit (provision)
9,192 
(145)
25 
(11,351)
— 
(2,279)
— 
(2,279)
Net income (loss)
287,442 
48,518 
6,819 
70,033 
(340,385)
72,427 
— 
72,427 
Net income attributable to non-controlling interests
(7)
— 
(12,152)
(1,833)
— 
(13,992)
— 
(13,992)
Net income (loss) attributable to Starwood Property Trust, Inc.
$
287,435 
$
48,518 
$
(5,333)
$
68,200 
$
(340,385)
$
58,435 
$
— 
$
58,435 
6



Reconciliation of Net Income to Distributable Earnings
For the six months ended June 30, 2026
(Amounts in thousands except per share data)
Commercial and
Residential
Lending
Segment
Infrastructure
Lending
Segment
Property
Segment
Investing
and Servicing
Segment
Corporate
Total
Net income (loss) attributable to Starwood Property Trust, Inc.
$
287,435 
$
48,518 
$
(5,333)
$
68,200 
$
(340,385)
$
58,435 
Add / (Deduct):
Non-controlling interests attributable to Woodstar II Class A Units
— 
— 
9,258 
— 
— 
9,258 
Non-controlling interests attributable to unrealized gains/losses
— 
— 
(4,031)
(6,971)
— 
(11,002)
Non-cash equity compensation expense
5,669 
1,540 
4,009 
2,874 
13,215 
27,307 
Management incentive fee
— 
— 
— 
— 
5,567 
5,567 
Depreciation and amortization
9,090 
— 
58,206 
2,313 
— 
69,609 
Straight-line rent adjustment
— 
— 
(3,346)
171 
— 
(3,175)
Interest income adjustment for loans and securities
9,749 
— 
— 
18,062 
— 
27,811 
Consolidated income tax (benefit) provision associated with fair value adjustments
(9,192)
145 
(25)
11,351 
— 
2,279 
Other non-cash items
7 
447 
(164)
(813)
— 
(523)
Reversal of GAAP unrealized and realized (gains) / losses on:
Loans
33,691 
— 
— 
(20,962)
— 
12,729 
Credit loss provision (reversal), net
30,402 
(615)
— 
— 
— 
29,787 
Securities
1,136 
— 
— 
9,638 
— 
10,774 
Woodstar Fund investments
— 
— 
(17,393)
— 
— 
(17,393)
Derivatives
(37,892)
(439)
(10,630)
(1,225)
55,673 
5,487 
Foreign currency
11,834 
— 
(38)
— 
— 
11,796 
Earnings from unconsolidated entities
— 
(3,520)
— 
(605)
— 
(4,125)
Sales of properties
(356)
— 
(496)
(2,264)
— 
(3,116)
Recognition of Distributable realized gains / (losses) on:
Loans
(822)
— 
— 
21,194 
— 
20,372 
Securities
(137)
— 
— 
(5,936)
— 
(6,073)
Woodstar Fund investments
— 
— 
37,029 
— 
— 
37,029 
Derivatives
21,205 
279 
(3,324)
1,926 
(5,724)
14,362 
Foreign currency
942 
— 
38 
— 
— 
980 
Earnings from unconsolidated entities
— 
2,657 
— 
905 
— 
3,562 
Sales of properties
(4,753)
— 
(135)
1,928 
— 
(2,960)
Distributable Earnings (Loss)
$
358,008 
$
49,012 
$
63,625 
$
99,786 
$
(271,654)
$
298,777 
Distributable Earnings (Loss) per Weighted Average Diluted Share
$
0.94 
$
0.13 
$
0.16 
$
0.26 
$
(0.71)
$
0.78 
7



Starwood Property Trust, Inc. and Subsidiaries
Condensed Consolidated Balance Sheet by Segment
As of June 30, 2026
(Amounts in thousands)
Commercial and
Residential
Lending
Segment
Infrastructure
Lending
Segment
Property
Segment
Investing
and Servicing
Segment
Corporate
Subtotal
Securitization
VIEs
Total
Assets:
Cash and cash equivalents
$
22,616 
$
206,331 
$
30,912 
$
9,281 
$
98,452 
$
367,592 
$
— 
$
367,592 
Restricted cash
177,912 
46,173 
2,802 
189 
45,688 
272,764 
— 
272,764 
Loans held-for-investment, net
16,965,888 
2,851,080 
— 
— 
— 
19,816,968 
— 
19,816,968 
Loans held-for-sale
2,154,653 
— 
— 
62,828 
— 
2,217,481 
— 
2,217,481 
Investment securities
556,876 
123,934 
— 
1,262,903 
— 
1,943,713 
(1,540,884)
402,829 
Properties, net
1,028,671 
— 
2,938,255 
31,743 
— 
3,998,669 
— 
3,998,669 
Investments of consolidated affordable housing fund
— 
— 
1,725,368 
— 
— 
1,725,368 
— 
1,725,368 
Investments in unconsolidated entities
8,514 
61,517 
— 
33,200 
— 
103,231 
(15,030)
88,201 
Goodwill
— 
119,409 
— 
140,437 
— 
259,846 
— 
259,846 
Intangible assets, net
2,522 
— 
405,459 
71,062 
— 
479,043 
(38,069)
440,974 
Derivative assets
23,233 
— 
931 
242 
— 
24,406 
— 
24,406 
Accrued interest receivable
195,044 
3,611 
4 
493 
1,664 
200,816 
— 
200,816 
Other assets
195,215 
20,947 
111,988 
(16,670)
50,735 
362,215 
— 
362,215 
VIE assets, at fair value
— 
— 
— 
— 
— 
— 
30,868,147 
30,868,147 
Total Assets
$
21,331,144 
$
3,433,002 
$
5,215,719 
$
1,595,708 
$
196,539 
$
31,772,112 
$
29,274,164 
$
61,046,276 
Liabilities and Equity
Liabilities:
Accounts payable, accrued expenses and other liabilities
$
232,135 
$
38,666 
$
123,067 
$
37,521 
$
144,167 
$
575,556 
$
— 
$
575,556 
Related-party payable
— 
— 
— 
— 
27,033 
27,033 
— 
27,033 
Dividends payable
— 
— 
— 
— 
180,744 
180,744 
— 
180,744 
Derivative liabilities
64,972 
— 
— 
— 
26,601 
91,573 
— 
91,573 
Secured financing agreements, net
9,496,528 
716,722 
731,638 
583,078 
2,491,581 
14,019,547 
(19,656)
13,999,891 
Securitized financing, net
1,603,874 
1,810,038 
1,397,599 
— 
— 
4,811,511 
— 
4,811,511 
Unsecured senior notes, net
— 
— 
— 
— 
4,882,722 
4,882,722 
— 
4,882,722 
VIE liabilities, at fair value
— 
— 
— 
— 
— 
— 
29,293,820 
29,293,820 
Total Liabilities
11,397,509 
2,565,426 
2,252,304 
620,599 
7,752,848 
24,588,686 
29,274,164 
53,862,850 
Temporary Equity: Redeemable non-controlling interests
— 
— 
356,377 
— 
— 
356,377 
— 
356,377 
Permanent Equity:
Starwood Property Trust, Inc. Stockholders’ Equity:
Common stock
— 
— 
— 
— 
3,798 
3,798 
— 
3,798 
Additional paid-in capital
2,904,306 
465,056 
329,107 
(974,433)
4,267,303 
6,991,339 
— 
6,991,339 
Treasury stock
— 
— 
— 
— 
(167,962)
(167,962)
— 
(167,962)
Retained earnings (accumulated deficit)
7,019,517 
402,520 
2,072,106 
1,827,396 
(11,659,448)
(337,909)
— 
(337,909)
Accumulated other comprehensive income
9,697 
— 
— 
— 
— 
9,697 
— 
9,697 
Total Starwood Property Trust, Inc. Stockholders’ Equity
9,933,520 
867,576 
2,401,213 
852,963 
(7,556,309)
6,498,963 
— 
6,498,963 
Non-controlling interests in consolidated subsidiaries
115 
— 
205,825 
122,146 
— 
328,086 
— 
328,086 
Total Permanent Equity
9,933,635 
867,576 
2,607,038 
975,109 
(7,556,309)
6,827,049 
— 
6,827,049 
Total Liabilities and Equity
$
21,331,144 
$
3,433,002 
$
5,215,719 
$
1,595,708 
$
196,539 
$
31,772,112 
$
29,274,164 
$
61,046,276 
8

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Cover Page
Aug. 06, 2026
Cover [Abstract]  
Document Type 8-K
Document Period End Date Aug. 06, 2026
Entity Registrant Name Starwood Property Trust, Inc.
Entity Incorporation, State or Country Code MD
Entity File Number 001-34436
Entity Tax Identification Number 27-0247747
Entity Address, Address Line One 2340 Collins Avenue,
Entity Address, City or Town Miami Beach
Entity Address, State or Province FL
Entity Address, Postal Zip Code 33139
City Area Code 305
Local Phone Number 695-5500
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common stock, $0.01 par value per share
Trading Symbol STWD
Security Exchange Name NYSE
Entity Emerging Growth Company false
Entity Central Index Key 0001465128
Amendment Flag false
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