Redwood Trust (RWT) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $0.44 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.13. Analysts had a consensus of $0.31. The company posted revenue of $38.00 million in the period, compared to analysts expectations of $40.43 million. The company’s revenue was down -5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 EPS.
Many Wall Street Analysts have commented on Redwood Trust. Shares were Reiterated by Deutsche Bank on Mar 14, 2016 to “Buy” and Lowered the Price Target to $ 18 from a previous price target of $20 .Shares were Reiterated by Maxim Group on Feb 29, 2016 to “Buy” and Lowered the Price Target to $ 15 from a previous price target of $20 .
Redwood Trust opened for trading at $12.67 and hit $12.91 on the upside on Wednesday, eventually ending the session at $12.81, with a gain of 0.95% or 0.12 points. The heightened volatility saw the trading volume jump to 2,62,624 shares. Company has a market cap of $990 M.
In a different news, on May 3, 2016, Christopher J Abate (CFO, Executive Vice President) sold 7,622 shares at $12.79 per share price. According to the SEC, on May 3, 2016, Richard Baum (director) sold 3,903 shares at $12.79 per share price. On May 3, 2016, Fred Matera (officer ) sold 1,844 shares at $12.79 per share price, according to the Form-4 filing with the securities and exchange commission.
Redwood Trust Inc. (Redwood) is a real estate investment trust (REIT). The company focuses on investing in mortgage and other real estate-related assets. The Company is engaged in residential and commercial mortgage banking activities. It invests in real estate-related assets that generate income through the Company’s residential and commercial mortgage banking activities. It operates in three segments: residential mortgage banking residential investments and commercial mortgage banking and investments. Its residential mortgage banking segment consists of operating a mortgage loan conduit that acquires residential whole loans from third-party originators for sale securitization or transfer to its investment portfolio. Its residential investments segment includes investments in residential mortgage-backed securities. Its commercial mortgage banking and investments segment consists of commercial mortgage banking operations and its portfolio of commercial real estate loans.