Starwood Property Trust Inc.'s (STWD) first-quarter of 2013 net income attributable to the Company was $62.2 million, up from $50.2 million in the prior year quarter. Net income per share was $0.46, compared to $0.53 last year.
The Company's Core Earnings were $58.1 million, or $0.43 per share, for the quarter, compared to $55.0 million, or $0.58 per share, for the first quarter of 2012. Core Earnings in the first quarter of 2013 included $4.4 million, or $0.03 per share, of expense attributed to transaction costs related to the acquisition of LNR Property LLC. Core Earnings in the first quarter of 2012 included $12.2 million, or $0.13 per diluted share, of income related to the prepayment of a $143.9 million loan that primarily represented accelerated discount accretion.
The company's Board of Directors increased and declared a dividend of $0.46 per share of common stock for the quarter ending June 30, 2013. The dividend is payable on July 15, 2013 to common stockholders of record as of June 28, 2013.
For 2013, the company still expects Core Earnings to be in the range of $1.90 to $2.00 per share.
The company said it expects that the acquisition of LNR Property LLC will be accretive to both earnings and cash flow in 2013 and 2014. The company expects to update 2013 Core Earnings guidance to reflect the acquisition of LNR in connection with the reporting of results for the quarter ending June 30, 2013.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.