GREENWICH, Conn. (AP) — GREENWICH, Conn. (AP) — Starwood Property Trust Inc. (STWD) on Thursday reported fourth-quarter net income of $71 million.
On a per-share basis, the Greenwich, Connecticut-based company said it had net income of 22 cents. Earnings, adjusted for non-recurring costs and stock option expense, came to 58 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
The commercial real estate investment trust posted revenue of $522.3 million in the period.
For the year, the company reported profit of $339.2 million, or $1.07 per share. Revenue was reported as $2.05 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