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Deutsche Bank Securities Reiterates BUY Rating on Starwood Property Trust (NYSE STWD), Target Price Raised

Deutsche Bank Securities Reiterates BUY Rating on Starwood Property Trust (NYSE STWD), Target Price Raised

New York, April 12 (alphajetsusa.com) – Analysts at Deutsche Bank Securities reiterate their BUY rating on the shares of Starwood Property Trust, Inc (NYSE: STWD). The 12-month target price has been raised to some extent from $30 to $32.

In a research note published on April 10, the analysts mention that elevating approximately $724 million in gross proceeds, a stock offering of 26.5 million shares (ex the shoe) was priced by Starwood Property Trust.

In addition to this, the company might also use a portfolio of proceeds so to fund the LNR Property acquisition and besides, in order to fund fresh investments in commercial mortgage loans and further target assets {as of April 8, STWD had a probable pipeline (60 percent + likelihood of closing) of $1.59 billion, which comprised 10 loans with an average loan size of $159 million}, Starwood Property Trust is supposed to use proceeds.

In addition, being up from $19.90 at fourth quarter-end, post-deal BVPS of $21.05 is approximated, the analysts add further.