On Thursday, Shares of Starwood Property Trust, Inc. (NYSE:STWD), subtract -1.93% and closed at $21.80 in the last trading session. The last trading range of the stock ranges between $21.71 and $22.30. Starwood Property Trust, Inc. (STWD) recently declared operating results for the fiscal quarter ended September 30, 2016. The Company’s third quarter 2016 GAAP net income was $105.8 million, or $0.44 per diluted share, and Core Earnings (a non-GAAP financial measure) was $141.1 million, or $0.59 per diluted share.
“Our results this quarter were driven by contributions from across our businesses, demonstrating the strength of our multi-cylinder platform,” stated Barry Sternlicht, Chairman and Chief Executive Officer of Starwood Property Trust. “We deployed over $1.3 billion of capital this quarter and $3.8 billion year-to-date through volatile market conditions. The credit quality of our $9.1 billion portfolio remains strong, with an LTV on our loan book of just 63%. Since our move into long duration equity assets, we have reviewed countless property investments. This quarter, we identified an investment that met our objectives of long-term stable and rising cash flows, with attractive current cash-on-cash yields. We are under contract to close this investment, an exceptionally high quality medical office portfolio consisting of 38 buildings throughout the U.S. The portfolio is positioned to benefit from growth in the medical sector, high industry-wide tenant retention rates, minimal new supply and favorable demographic trends. By adding a resilient income stream that extends the duration of our overall book, we continue to build a portfolio that can withstand various market cycles.”
Yelp Inc (NYSE:YELP), dropped -5.80% and closed at $36.07 in the last trading session. The last trading range of the stock ranges between $35.76 and $38.82. The company’s Market capitalization is $2.81 Billion with the total Outstanding Shares of 78.31 million. Yelp Inc. (YELP), the company that connects people with great local businesses, today announced financial results for the third quarter ended September 30, 2016.
Net revenue was $186.2 million in the third quarter of 2016, reflecting 30% growth over the third quarter of 2015.
Cumulative reviews grew 29% year over year to approximately 115 million.
App Unique Devices grew 24% year over year to approximately 25 million on a monthly average basis1.
Local advertising accounts grew 30% year over year to approximately 135 thousand.
GAAP net income in the third quarter of 2016 was $2.1 million, or $0.02 per diluted share, compared to a GAAP net loss of ($8.1) million, or ($0.11) per share, in the third quarter of 2015. Adjusted EBITDA for the third quarter of 2016 was $33.7 million compared to $12.5 million in the third quarter of 2015. Non-GAAP net income, which consists of net income excluding stock-based compensation and amortization, was $18.4 million for the third quarter, or $0.22 per diluted share, compared to $2.7 million, or $0.03 per diluted share, in the third quarter of 2015.