STWD Q2 2026 net income plunges 94.9% to $6.6M on $6.6M credit provision tied to macro deterioration

Filed August 6, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 7, 2025 · ~2 min read

Key Changes

• high

  Property Segment revenues surged to $125.5M for the six months ended June 30, 2026 (up $92.5M from $33.0M prior year) as Fundamental acquired 48 net lease properties for $308.6M and refinanced via ABS at 5.06% fixed, lowering master trust cost of funds from 5.73% to 5.29%.

  MD&A: Property Segment Expansion verify on EDGAR →
• medium

  Data center exposure rose to 6.8% of Commercial and Residential Lending collateral (from 3.8% at year-end 2025), including a new $598.7M Texas construction loan (3% participation, $84.2M funded) pre-leased to an investment-grade tenant.

  MD&A: Collateral Mix & Originations verify on EDGAR →
• medium

  Company repurchased 581,795 shares for $10.0M at $17.16/share in Q2 2026 under the February 2026 $400M authorization, reversing prior-year capital strategy when it issued 1.6M shares via ATM at $20.22/share.

  MD&A: Capital Allocation verify on EDGAR →