MIAMI BEACH, Fla. (AP) — MIAMI BEACH, Fla. (AP) — Starwood Property Trust Inc. (STWD) on Wednesday reported fourth-quarter net income of $96.9 million.
On a per-share basis, the Miami Beach, Florida-based company said it had profit of 26 cents. Earnings, adjusted for non-recurring costs and stock option expense, were 42 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.
The commercial real estate investment trust posted revenue of $492.9 million in the period.
For the year, the company reported profit of $411.5 million, or $1.15 per share. Revenue was reported as $1.84 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on STWD at https://www.zacks.com/ap/STWD
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