10-Q - Starwood Credit Real Estate Income Trust (0001986395) (Filer)

Wed, Nov 13, 11:08 AM (122 days ago)

**Starwood Credit Real Estate Income Trust (STRT) - Q3 2024 Summary** For Q3 2024, Starwood Credit Real Estate Income Trust reported robust financial growth, with total revenues reaching $16.0 million, driven by a significant increase in interest income to $12.6 million. This marks a substantial rise from $10.3 million in Q2 2024. The company's net income stood at $3.4 million, translating to earnings per share of $0.37. Total assets surged to $812.3 million, primarily due to increased loans receivable, which rose to $805.4 million from $158.3 million at year-end 2023. The trust's liability structure also expanded, with loans payable increasing to $614.0 million. Interest expenses grew to $7.8 million, reflecting the higher debt levels associated with the expanded loan portfolio. The company is actively managing liquidity, with cash and equivalents of $2.8 million and additional undrawn credit capacity of $28 million. Looking ahead, STRT aims to capitalize on favorable market conditions while navigating potential risks associated with interest rate volatility and credit spreads. The company continues to focus on its investment strategy of securing high-quality commercial real estate loans, positioning itself for sustained growth in a dynamic market environment.