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Starwood Property Trust Balance Sheet Statement

Assets, liabilities, and shareholders' equity

Starwood Property Trust holds $62.1B in total assets. Cash and equivalents total $666.1M. Based on the Q1 2026 filing.

Total Assets$62.1BTotal Stockholders Equity$6.7BLong Term Debt$2.3BCash And Equivalents$666.1M
Latest FilingQ1 2026
Report Date2026-05-08
Market Cap$6.3B
P/E Ratio18.04
ROE5.37%

Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accrued interest$167.8M$142.7M$164.6M$167.6M$162.7M$177.4M
Federal funds purchased and securities sold under repurchase agreements$0.0$0.0$0.0$0.0$0.0$0.0
Deposits Received for Securities Loaned$94.4M$64.7M$55.5M$35.9M$33.7M$26.5M
Derivative Liabilities - Fair Value$0.0$0.0$0.0$0.0$0.0$0.0
Derivative Liabilities Offset$0.0$0.0$0.0$0.0$0.0$0.0
Dividends payable$163.4M$165.0M$166.2M$180.1M$180.4M$180.9M
Derivative liabilities$0.0$0.0$0.0$0.0$0.0$0.0
Repurchase Agreements - Gross$8.3B$9.4B$10.3B$10.3B$8.9B$10.1B

Equity

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Additional paid-in capital$6.3B$6.3B$6.4B$6.9B$7.0B$7.0B
AFS and Trading Securities - Unrealized Loss Position (>=12 Months) Accumulated Loss$1.4M$1.6M$1.8M$1.8M$1.8M$1.8M
Accumulated other comprehensive income (loss)$13.6M$12.7M$12.8M$11.9M$11.6M$10.9M
Common stock3.4M500M500M500M500M500M
Common Stock Par Value Per Share$0.01$0.01$0.01$0.01$0.01$0.01
Common Stock Shares Issued344.9M346.8M349.1M377.8M378M379.3M
Convertible Preferred Stock Authorized Shares100M100M100M100M100M100M
Convertible Preferred Stock Issued Shares000000
Convertible Preferred Stock Outstanding Shares000000
Cumulative Gross Losses and Impairments$24.9M$25.1M$21.4M$28.9M$34.4M$41.0M
Cumulative Gross Unrealized Gains$336.0K$20.0K$328.0K$276.0K$1.3M$1.4M
Additional paid-in capital$6.3B$6.3B$6.4B$6.9B$7.0B$7.0B
Common stock; $0.001 par value; 6,000 shares authorized; 3,755 and 3,751 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively$3.4M$3.5M$3.5M$3.8M$3.8M$3.8M
Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding$0.0$0.0$0.0$0.0$0.0$0.0
Noncontrolling interests$329.7M$324.3M$321.1M$321.9M$329.9M$325.8M
Preferred stock$0.0$0.0$0.0$0.0$0.0$0.0
Preferred Stock Par Value Per Share$0.01$0.01$0.01$0.01$0.01$0.01
Redeemable noncontrolling interests$426.7M$426.8M$425.5M$385.9M$364.1M$357.5M
Retained earnings$235.3M$183.6M$148.5M$42.6M-$39.0M-$165.9M
Share-Based Payment - Nonvested Awards (Number)3.9M5.3M5M5.7M5.5M5.9M
Share-Based Payment - Unrecognized Cost of Nonvested Awards$20.46$20.13$20.11$20.04$20.04$19.57
Share Price—$19.77$20.07$19.37—$17.22
Share Repurchase Authorization Limit—————$380.1M
Share Repurchase Program - Amount Remaining—————$380.1M
Total liabilities and stockholders' equity$62.6B$62.2B$62.4B$62.4B$63.2B$62.1B
Total stockholders' equity$6.4B$6.4B$6.4B$6.9B$6.8B$6.7B
Treasury stock$138.0M$138.0M$138.0M$138.0M$138.0M$158.0M
Unrealized Gains on Investments$15.2M$14.4M$14.6M$13.7M$13.3M$12.7M
Unrealized Losses on Investments (Before Tax)$1.6M$1.6M$1.8M$1.8M$1.8M$1.8M

Current Assets

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Available-for-Sale Debt Securities - Amortized Cost$80.2M$79.2M$78.6M$77.5M$76.7M$75.8M
Available-for-Sale Debt Securities - Fair Value (Maturing Within 1 Year)—$285.5M$288.3M$39.9M—$56.2M
Available-for-Sale Debt Securities - Unrealized Loss Position (>=12 Months)$9.7M$11.5M$11.3M$11.2M$10.9M$10.8M
AFS and Trading Securities - Unrealized Loss Position (>=12 Months)$9.7M$11.5M$11.3M$11.2M$10.9M$10.8M
AFS and Trading Securities - Unrealized Loss Position (<12 Months) Fair Value$2.1M$0.0$0.0$0.0$480.0K$623.0K
Available-for-Sale Debt Securities - Unrealized Loss Position (<12 Months)$2.1M$0.0$0.0$0.0$480.0K$623.0K
AFS and Trading Securities - Unrealized Loss Position (>=12 Months) Fair Value$9.7M$11.5M$11.3M$11.2M$10.9M$10.8M
AFS and Trading Securities - Unrealized Loss Position (<12 Months) Fair Value$2.1M$0.0$0.0$0.0$480.0K$623.0K
Allowance for Credit Losses - Receivable (Current)$448.3M$428.1M$417.3M$434.1M$440.8M$397.7M
Cash and cash equivalents$554.0M$692.4M$474.9M$539.1M$674.6M$666.1M
Cash, Cash Equivalents, and Marketable Securities$93.8M$91.9M$91.4M$89.5M$88.3M$86.7M
Derivative Assets - Fair Value$175.5M$85.0M$72.0M$37.3M$45.8M$32.3M
Derivative Collateral Right to Reclaim$0.0$0.0$0.0$0.0$0.0$0.0
Derivative assets$175.5M$85.0M$72.0M$37.3M$45.8M$32.3M
Financing Receivables$15.4B$16.5B$17.8B$18.3B$18.9B$19.3B
Loans and Lending Commitments$15.4B$16.5B$17.8B$18.3B$18.9B$19.3B
Loans held for sale$2.5B$2.4B$2.5B$2.6B$2.3B$2.3B
Net Cash Collateral Received - Derivative Instruments$450.0K$8.3M$86.8M$57.7M$50.3M$52.9M
Restricted cash$176.2M$251.8M$214.9M$238.0M$175.2M$375.8M
Trading Securities in Marketable Securities$16.4M$16.4M$16.4M$16.4M$16.4M$16.4M

Non-Current Assets

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Allowance for credit losses$0.0$0.0$0.0$0.0$0.0$0.0
Gross loans$15.4B$16.5B$17.8B$18.3B$18.9B$19.3B
Purchased Credit Deteriorated Loans$15.4B$16.5B$17.8B$18.3B$18.9B$19.3B
Equity method investments$99.4M$16.4M$16.4M$16.4M$16.4M$16.4M
Equity Method Investment Basis Difference—$0.0$0.0$0.0—$0.0
Equity Securities Without Readily Determinable Fair Value - Cumulative Downward Adjustments$16.4M$16.4M$16.4M$16.4M$16.4M$16.4M
Held-to-maturity securities$431.4M$393.9M$405.3M$169.9M$216.9M$229.6M
Finite-Lived Intangible Assets - Expected Amortization Expense (Year One)—$3.8M$2.9M$26.2M—$26.4M
Goodwill$259.8M$259.8M$259.8M$259.8M$259.8M$259.8M
Held-to-Maturity Debt Securities - Fair Value$382.4M$345.4M$358.7M$109.8M$146.4M$143.1M
Allowance for Credit Losses on Held-to-Maturity Securities$24.5M$23.5M$25.5M$31.5M$37.4M$46.9M
Equity securities————$628.0K—
Intangible Assets Gross (Excluding Goodwill)$144.0M$144.8M$133.5M$513.6M$523.6M$520.9M
Intangible assets, net$60.7M$36.7M$28.9M$402.3M$436.1M$398.9M
Investments - Amortized Cost Basis$16.4M$16.4M$16.4M$16.4M$16.4M$16.4M
Mortgage servicing rights$22.4M$23.1M$25.5M$27.5M$28.3M$27.7M
Intangible assets &#8212; net—$36.7M$28.9M$402.3M—$398.9M
Other intangible assets&#8212;net$60.7M$59.8M$54.4M$429.8M$436.1M$426.7M
Investment securities$533.3M$497.5M$502.6M$258.8M$301.0M$308.2M
Investments$99.4M$98.5M$81.4M$81.1M$84.8M$85.6M
Mortgage Loans On Real Estate$18.0B$19.0B$20.3B$20.9B$21.2B$21.6B
Other Assets$368.2M$409.8M$381.6M$378.3M$363.0M$538.5M
Real Estate Investment Property, Net$1.4B$1.4B$1.5B$3.3B$3.4B$3.9B
Fair value of servicing rights$22.4M$23.1M$25.5M$27.5M$28.3M$27.7M
Variable interest entity (&#8220;VIE&#8221;) assets, at fair value$38.9B$37.5B$36.5B$34.2B$34.5B$32.4B
Other non-current assets$368.2M$409.8M$381.6M$378.3M$363.0M$538.5M
Accumulated depreciation$210.5M$220.2M$217.4M$237.8M$254.6M$280.6M
Investment properties, at cost$1.6B$1.6B$1.7B$3.6B$3.7B$4.1B
Total assets$62.6B$62.2B$62.4B$62.4B$63.2B$62.1B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cumulative Cost Basis$80.2M$79.2M$78.6M$77.5M$76.7M$75.8M
Fair Value Measurement Disclosure$94.9M$73.0M$142.3M$93.6M$84.0M$79.4M
Gross Assets/Liabilities$94.9M$73.0M$142.3M$93.6M$84.0M$79.4M
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax$1.6M$1.6M$1.8M$1.8M$1.8M$1.8M
Gross Unrealized Gains$15.2M$14.4M$14.6M$13.7M$13.3M$12.7M
Total$80.2M$79.2M$78.6M$77.5M$76.7M$75.8M
Available for sale Securities Amortized Cost before Other than Temporary Impairment$80.2M$79.2M$78.6M$77.5M$76.7M$75.8M
Available for sale investments$93.8M$91.9M$91.4M$89.5M$88.3M$86.7M
Effective variable rate basis—4.3%4.3%4.1%—3.7%
Collateralized debt$3.2B$3.2B$2.8B$3.5B$5.1B$5.1B
Common stock, par value (in dollars per share)$0.0$0.0$0.0$0.0$0.0$0.0
Common stock, shares authorized (in shares)$500.0M$500.0M$500.0M$500.0M$500.0M$500.0M
Common stock, shares issued (in shares)$344.9M$346.8M$349.1M$377.8M$378.0M$379.3M
Common Stock, Shares, Outstanding$337.4M$339.4M$341.6M$370.3M$370.6M$370.7M
Debt Securities, Available-for-Sale, Allowance for Credit Loss$0.0$0.0$0.0$0.0$0.0$0.0
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss$1.4M$1.6M$1.8M$1.8M$1.8M$1.8M
Less than 12 months$2.1M$0.0$0.0$0.0$480.0K$623.0K
12 months or more$9.7M$11.5M$11.3M$11.2M$10.9M$10.8M
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss$178.0K$0.0$0.0$0.0$0.0$10.0K
Debt Securities, Held-to-Maturity, Allowance for Credit Loss$24.5M$23.5M$25.5M$31.5M$37.4M$46.9M
Three to five years—$13.3M$13.0M$61.5M—$85.7M
Debt Securities, Held-to-maturity, Net$407.0M$370.4M$379.8M$138.4M$179.6M$182.7M
Derivative Asset, Subject to Master Netting Arrangement, Liability Offset$0.0$0.0$0.0$0.0$0.0$0.0
Securities Collateral&#160;Held&#160;/Pledged&#160;Under Master&#160;Netting Agreements$94.4M$64.7M$55.5M$35.9M$33.7M$26.5M
Securities Collateral&#160;Held&#160;/Pledged&#160;Under Master&#160;Netting Agreements$94.4M$64.7M$55.5M$35.9M$33.7M$26.5M
Derivative, gross, assets$175.5M$85.0M$72.0M$37.3M$45.8M$32.3M
Derivative Asset, Including Not Subject to Master Netting Arrangement, after Offset and Deduction$60.3M$19.2M$16.4M$1.4M$12.1M$5.7M
Derivatives, gross, liabilities$94.9M$73.0M$142.3M$93.6M$84.0M$79.4M
Derivative Liability, Including Not Subject to Master Netting Arrangement, after Offset and Deduction$0.0$0.0$0.0$0.0$0.0$0.0
Derivative Liability$94.9M$73.0M$142.3M$93.6M$84.0M$79.4M
Derivative Liability, Subject to Master Netting Arrangement, Asset Offset$0.0$0.0$0.0$0.0$0.0$0.0
Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Collateral Right To Reclaim Securities$8.4B$9.4B$10.3B$10.3B$8.9B$10.1B
Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Amount Offset Against Collateral$0.0$0.0$0.0$0.0$0.0$0.0
Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Collateral Right To Reclaim Cash$450.0K$8.3M$86.8M$57.7M$50.3M$52.9M
Number of derivative instruments held—512.00533.00471.00—568.00
Equity method investments (Note 11)$82.9M$82.0M$65.0M$64.7M$68.3M$69.1M
Trading securities, cost$16.4M$16.4M$16.4M$16.4M$16.4M$16.4M
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value$38.2B$38.1B$37.4B$34.8B$34.9B$32.8B
Thereafter—$15.9M$14.9M$290.2M—$272.4M
Finite-Lived Intangible Assets, Accumulated Amortization$83.3M$85.0M$79.1M$83.8M$87.6M$94.2M
2028—$4.0M$2.9M$26.3M—$26.7M
2030—$3.8M$2.9M$26.2M—$26.4M
Remainder of 2026—$4.6M$2.1M$6.9M—$20.2M
2027—$4.5M$3.2M$26.5M—$26.7M
2029—$3.9M$2.9M$26.2M—$26.6M
Debt Securities, Held-to-Maturity, Accumulated Unrecognized Loss$24.9M$25.1M$21.4M$28.9M$34.4M$41.0M
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain$336.0K$20.0K$328.0K$276.0K$1.3M$1.4M
One to three years—$62.5M$69.3M$28.0M—$20.9M
Thereafter—$9.1M$9.1M$9.1M—$19.9M
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date—$370.4M$379.8M$138.4M—$182.7M
Within 1 year—$285.5M$288.3M$39.9M—$56.2M
Housing Fund Investment, Fair Value Disclosure————$1.7B$1.7B
Indefinite- lived intangible impairment$144.0M$144.8M$133.5M$513.6M$523.6M$520.9M
Loans as a percent of consolidated VIE assets—99.0%99.0%98.0%—98.0%
Weighted-average cash coupon (percentage)—3.6%3.6%3.4%—3.4%
Investment securities$126.3M$127.0M$122.8M$120.4M$121.4M$125.5M
Noncontrolling interests in subsidiaries$329.7M$324.3M$321.1M$321.9M$329.9M$325.8M
Carrying Value$18.4B$19.4B$20.7B$21.3B$21.6B$22.0B
Unpaid principal balance$18.8B$19.7B$21.1B$21.6B$21.9B$22.3B
Number of publicly traded investments—0.000.000.00—0.00
Number of securities with unrealized losses13.0013.0013.0014.0014.0017.00
Off Market Lease Unfavorable$1.1M——$33.1M$32.7M$32.4M
Accumulated Amortization$2.0M——$2.4M$2.8M$3.4M
Off-Market Lease, Unfavorable, Expected Amortization, Year Four———$2.3M—$2.3M
Off-Market Lease, Unfavorable, Expected Amortization, Year Three———$2.3M—$2.3M
Off-Market Lease, Unfavorable, Expected Amortization, Year One———$2.3M—$2.3M
Off-Market Lease, Unfavorable, Expected Amortization, after Year Four———$23.2M—$21.3M
Off-Market Lease, Unfavorable, Expected Amortization, Remainder of Fiscal Year———$594.0K—$1.8M
Off-Market Lease, Unfavorable, Expected Amortization, Year Two———$2.3M—$2.3M
Off-Market Lease, Unfavorable, Gross$3.1M——$35.4M$35.5M$35.8M
Permitted reinvestment under static investment in VIEs—$0.0$0.0$0.0—$0.0
Preferred Stock, Par or Stated Value Per Share$0.0$0.0$0.0$0.0$0.0$0.0
Preferred Stock, Shares Authorized$100.0M$100.0M$100.0M$100.0M$100.0M$100.0M
Preferred Stock, Shares Issued$0.0$0.0$0.0$0.0$0.0$0.0
Preferred Stock, Shares Outstanding$0.0$0.0$0.0$0.0$0.0$0.0
Redeemable noncontrolling interests in subsidiaries$426.7M$426.8M$425.5M$385.9M$364.1M$357.5M
REO assets as a percent of consolidated VIE assets—1.0%1.0%2.0%—2.0%
Securities Sold Under Agreements To Repurchase Amount Offset Against Collateral$0.0$0.0$0.0$0.0$0.0$0.0
Repurchase agreements, Gross amounts not offset in the balance sheet, Cash collateral pledged$0.0$0.0$0.0$0.0$0.0$0.0
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value$20.5$20.1$20.1$20.0$20.0$19.6
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number$3.9M$5.3M$5.0M$5.7M$5.5M$5.9M
Share price (in dollars per share)—$19.8$20.1$19.4—$17.2
Share Repurchase Program, Authorized, Amount—————$400.0M
Share Repurchase Program, Remaining Authorized, Amount—————$380.1M
Treasury stock, shares (in shares)$7.4M$7.4M$7.4M$7.4M$7.4M$8.6M
Remainder of Fiscal Year 2024—$4.6M$2.1M$6.9M—$20.2M
Remainder of Fiscal Year 2025—$4.6M$2.1M$6.9M—$20.2M

Non-Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Finance lease liabilities————$14.0M—
Finance Lease Liabilities (Total)————$14.0M—
Unsecured debt$3.0B$2.7B$3.2B$3.2B$4.3B$4.3B
VIE liabilities, at fair value$37.3B$35.9B$34.9B$32.6B$32.8B$30.8B
Other non-current liabilities$94.9M$73.0M$142.3M$93.6M$84.0M$79.4M
Secured Borrowings Cash Right to Reclaim$450.0K$8.3M$86.8M$57.7M$50.3M$52.9M
Secured Debt$11.2B$12.4B$13.5B$14.7B$12.7B$13.8B
Total liabilities$55.4B$55.0B$55.2B$54.9B$32.9B$30.8B