Starwood Property Trust (STWD) posted a third quarter 2013 core earnings per share of 61 cents, well ahead of analysts 54 cents estimate, FBR Capital Markets said.

The main source of the beat came in LNR where special servicing revenue was robust for the second quarter in a row, along with better-than-expected revenue from the CMBS portfolio and conduit business. Investment activity in the quarter was strong at around $1.1 billion, and 4Q13 activity quarter to date is already nearly $900 million.