Starwood Property Trust Q2 Net Income At $62.2 Mln

(RTTNews) - Starwood Property Trust, Inc. (STWD), Tuesday reported second-quarter net income attributable to the company of $62.2 million or $0.38 per share, compared with $44.5 million or $0.40 per share during the same period last year. This year net income exclude a $2.6 million tax benefit with regard to the LNR acquisition.

Including the tax benefit, the company's earnings for the three-month period were $69 million or $0.42 per share, compared with $50 million or $0.45 per share during the corresponding quarter last year.

Excluding impact of costs related to the LNR acquisition, the company said it raised the top end of its full-year earnings guidance, and now expects it to range between $2.04 per share - $2.24 per share for the year. The company also declared a dividend of $0.46 per share for the third quarter, payable on October 15 to shareholders of record on September 30.