Starwood Property announces completion of spin-off of Starwood Waypoint Starwood Waypoint Residential Trust (SWAY) announced that its common shares will begin regular trading today on the New York Stock Exchange under the ticker symbol “SWAY” following its spinoff from Starwood Property Trust (STWD). The spinoff transaction comprised a one-for-five distribution of Starwood Waypoint shares to stockholders of record of Starwood Property Trust on January 24. It is anticipated that Starwood Property Trust will continue to pay a quarterly dividend of 46c per share when it announces its 2013 year-end earnings.
News For SWAY;STWD From The Last 14 Days
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Starwood Property sees FY14 adjusted EPS $2.00-$2.20, consensus $2.30 CEO Barry Sternlicht said, "As we look out into the coming year, we expect to leverage our vast network of relationships in both the United States and Europe to continue sourcing high quality transactions that will support our stable and consistent dividend. We expect to continue to diversify through the addition of new lines of business and lending products as we foster Starwood Property Trust's evolution into the premier real estate finance business that will perform well through all economic cycles."