Redwood Trust (RWT) reported quarterly earnings results on Monday, Aug-8-2016. The company said it had a profit of $0.48 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.12. Analysts had a consensus of $0.36. Analysts expectations of $36.41 million. During the same quarter in the previous year, the company posted $0.31 EPS.
Many Wall Street Analysts have commented on Redwood Trust. Redwood Trust was Downgraded by Keefe Bruyette to ” Mkt Perform” on Jul 19, 2016. Nomura Upgraded Redwood Trust on May 18, 2016 to ” Buy”, Price Target of the shares are set at $16.
Redwood Trust opened for trading at $14.29 and hit $14.55 on the upside on Friday, eventually ending the session at $14.4, with a gain of 0.84% or 0.12 points. The heightened volatility saw the trading volume jump to 5,38,043 shares. Company has a market cap of $1,108 M.
In a different news, on May 17, 2016, Mariann H Byerwalter (director) sold 9,759 shares at $13.27 per share price. According to the SEC, on May 3, 2016, Christopher J Abate (CFO, Executive Vice President) sold 7,622 shares at $12.79 per share price. On May 3, 2016, Richard Baum (director) sold 3,903 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.