Starwood Real Estate Income Trust, Inc. 8-K

What Happened

• Starwood Real Estate Income Trust, Inc. (SWDR) filed an 8-K reporting that its Board amended the company's share repurchase plan and reduced the monthly distribution. The SRP amendment is effective April 29, 2026, and the distribution reduction applies beginning with the distribution to holders of record as of the close of business on April 30, 2026. The Advisor is Starwood REIT Advisors, L.L.C.

Key Details

• SRP changes: repurchases will only be accepted for (1) requests upon the death or qualifying disability of a natural-person stockholder and (2) accounts with balances below $5,000.
• Monthly repurchase cap: up to $5 million per month for the allowed repurchase categories.
• Distribution change: the monthly distribution on common stock was reduced beginning with the April 30, 2026 record date.
• Board rationale: the Advisor and Board cited aligning the distribution with other public, non‑listed REITs and preserving long‑term value; they will continue to evaluate the distribution rate.

Why It Matters

• For investors, the change reduces liquidity options for shareholders who previously relied on broader repurchase requests—only small accounts (<$5,000) and death/disability cases will be eligible, and total repurchases are capped at $5M per month.
• The lower monthly distribution means less current cash income for holders of common stock starting with the April 30, 2026 record date; future distributions remain at the Board's discretion with no assurance of amounts.
• These moves signal management is prioritizing capital preservation and aligning payouts with peers, which could affect yield expectations and secondary-market demand for SWDR shares.

Exhibit note: The company furnished a letter to stockholders dated April 29, 2026 (Exhibit 99.1) describing these changes.