Sternlicht's Starwood Property slips after unveiling stock offering for acquisition

** Shares of Starwood Property Trust Inc STWD, led by billionaire Barry Sternlicht, down 3.2% in extended trading to $20.18 after news of acquisition-related equity raise

** Florida-based commercial mortgage REIT announces 25.5 mln share offering to help fund purchase of Fundamental Income Properties

** Co says to buy the net lease platform for about $2.2 bln

** BofA and Wells Fargo are jt bookrunners for the stock offering

** STWD shares on Weds closed up 1.1% at $20.85, extending YTD gain to 10%

** With ~339.5 mln shares outstanding, co has $7 bln market cap, per LSEG data

** Avg rating among 8 analysts covering STWD is "buy" and median PT is $22.50