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GREENWICH, Conn. (AP) _ Starwood Property Trust Inc. (STWD) on Wednesday reported first-quarter net income of $70.4 million.
On a per-share basis, the Greenwich, Connecticut-based company said it had net income of 25 cents. Earnings, adjusted for stock option expense and non-recurring costs, were 28 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.
The commercial real estate investment trust posted revenue of $310.5 million in the period.
Starwood Property Trust shares have risen 17% since the beginning of the year. The stock has risen slightly more than 7% in the last 12 months.
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