Redwood Trust, Inc., together with its subsidiaries, operates as a specialty finance company in the United States. The company operates through three segments: Residential Lending, Business Purpose Lending, and Third-Party Investments. The Residential Lending segment operates a mortgage loan conduit that acquires residential loans from third-party originators for subsequent sale, securitization, or transfer to its investment portfolio. This segment also offers derivative financial instruments to manage risks associated with residential loans. The Business Purpose Lending segment operates a platform that originates and acquires business purpose loans, such as single-family rental and bridge loans for subsequent securitization or transfer into its investment portfolio. The Third-Party Investments segment invests in residential mortgage-backed securities issued by third parties, as well as in K-Series multifamily loan securitizations and SLST reperforming loan securitizations. This segment also offers servicer advance, and other residential and multifamily credit investments. The company qualifies as a real estate investment trust (REIT) for federal income tax purposes. As a REIT, it intends to distribute at least 90% of its taxable income as dividends to shareholders. Redwood Trust, Inc. was incorporated in 1994 and is headquartered in Mill Valley, California.
IPO Year: 1995
Exchange: NYSE
Website: redwoodtrust.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 4/11/2024 | Outperform → Neutral | Wedbush | |
| 12/6/2023 | $9.00 | Buy | UBS |
| 12/5/2023 | $8.50 | Neutral → Buy | BTIG Research |
| 6/15/2023 | $7.00 | Overweight → Neutral | Piper Sandler |
| 10/5/2022 | $9.00 | Outperform | Wedbush |
| 8/31/2022 | Buy → Neutral | BTIG Research | |
| 5/13/2022 | $11.50 | Overweight | JP Morgan |
| 2/28/2022 | $16.00 → $14.00 | Outperform | Credit Suisse |
| 11/1/2021 | $14.00 | Equal-Weight | Wells Fargo |
| 10/28/2021 | $16.00 → $16.50 | Strong Buy | Raymond James |
CoreVest American Finance Lender, LLC ("CoreVest"), a leading lender to residential real estate investors nationwide and a division of Redwood Trust, Inc. ("Redwood"), is pleased to announce the promotion of Fred Matera to Chief Executive Officer. A tenured leader at Redwood, Fred has served as CoreVest's Co-Head for the last year and has been an integral part of Redwood's leadership team since 2019. In his new role, Fred will continue to report to Dash Robinson, Redwood's President. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241031081671/en/Fred Matera Promoted to Chief Executive Officer of CoreVest (Photo: Business Wire) As
Redwood Trust, Inc. (NYSE:RWT, "Redwood" or the "Company")), a leader in expanding access to housing for homebuyers and renters, is excited to announce the hiring of two key leaders to strengthen its commitment to innovation in technology and product development, strategic initiatives that are central to Redwood's mission of making quality housing – whether rented or owned – accessible to all American households. Abhinav Asthana joins the company as Chief Technology Officer, effective November 1st. With a distinguished track record of driving progress in mortgage technology, Abhinav will lead the Company's efforts to enhance its product offerings through an expansion of its digital capabil
Redwood Trust, Inc. (NYSE:RWT, ", Redwood", , the ", Company", )), a leader in expanding access to housing for homebuyers and renters, today reported its financial results for the quarter ended September 30, 2024. Key Q3 2024 Financial Results and Metrics GAAP book value per common share was $8.74 at September 30, 2024, relative to $8.73 per share at June 30, 2024 Economic return on book value of 2.1% for the third quarter and 6.8% year to date 2024(1) GAAP net income available to common stockholders of $13.1 million or $0.09 per basic and diluted common share Non-GAAP Earnings Available for Distribution ("EAD") of $25.2 million or $0.18 per basic common share(2) Recourse lever
Redwood Trust, Inc. (NYSE:RWT, "Redwood" or the "Company"))), a leader in expanding access to housing for homebuyers and renters, is scheduled to release its third quarter 2024 results on Wednesday, October 30, 2024 after the close of the New York Stock Exchange. In addition, Redwood's senior management team plans to hold a conference call to discuss its third quarter 2024 financial results later that same day at 5:00 p.m. Eastern Time / 2:00 p.m. Pacific Time. Webcast Information The conference call will be webcast live in listen-only mode through the News & Events section of Redwood Trust's Investor Relations website at https://www.redwoodtrust.com/investor-relations/news-events/events.
Redwood Trust, Inc. (NYSE:RWT, "Redwood" or the "Company"))) today announced that it priced approximately $40 million aggregate principal amount of its 7.75% convertible senior notes due 2027 (the "Notes") in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). The Notes will be issued as a reopening of, and will be part of the same series as, the 7.75% convertible senior notes due 2027 that the Company originally issued in June 2022 (the "Initial Notes"), of which $207,410,000 aggregate principal amount is currently outstanding. While the Notes will initially trade u
Redwood Trust, Inc. (NYSE:RWT, "Redwood" or the "Company"))), a leader in expanding access to housing for homebuyers and renters, today announced that its Board of Directors (the "Board") has declared third quarter 2024 common and preferred stock dividends. Common Stock Dividend The Board has authorized the declaration of a third quarter 2024 regular common stock dividend of $0.17 per share, a 6.25% increase from the second quarter of 2024. This marks the Company's 101st consecutive quarterly common dividend. The third quarter 2024 common stock dividend is payable on September 30, 2024 to stockholders of record on September 23, 2024. "We are pleased to announce an increase in our common
Redwood Trust, Inc. (NYSE:RWT, ", Redwood", , the ", Company", , ", we", or ", our", ))), a leader in expanding access to housing for homebuyers and renters, today reported its financial results for the quarter ended June 30, 2024. Key Q2 2024 Financial Results and Metrics GAAP book value per common share was $8.73 at June 30, 2024, relative to $8.78 per share at March 31, 2024 Economic return on book value of 1.3% for the second quarter and 4.7% for the first half of 2024(1) GAAP net income available to common stockholders of $13.8 million or $0.10 per basic and diluted common share Non-GAAP Earnings Available for Distribution ("EAD") of $18.6 million or $0.13 per basic com
Redwood Trust, Inc. (NYSE:RWT, "Redwood" or the "Company"))), a leader in expanding access to housing for homebuyers and renters, is scheduled to release its second quarter 2024 results on August 1, 2024 prior to the opening of the New York Stock Exchange. In addition, Redwood's senior management team plans to hold a conference call to discuss its second quarter 2024 financial results on August 1, 2024 at 5:00 a.m. Pacific Time / 8:00 a.m. Eastern Time. Webcast Information The conference call will be webcast live in listen-only mode through the News & Events section of Redwood Trust's Investor Relations website at https://www.redwoodtrust.com/investor-relations/news-events/events. To li
Redwood Trust, Inc. (NYSE:RWT, "Redwood" or the "Company"))) today announced the pricing of an underwritten public offering of $85,000,000 aggregate principal amount of its 9.00% senior notes due 2029 (the "Notes"). In connection with the offering, Redwood granted the underwriters a 30-day option to purchase up to an additional $12,750,000 aggregate principal amount of Notes, to cover over-allotments. The offering is expected to close on June 18, 2024, subject to the satisfaction of certain closing conditions. Redwood intends to apply to list the Notes on the New York Stock Exchange under the symbol "RWTO" and, if the application is approved, trading of the Notes on the New York Stock Exc
Redwood Trust, Inc. (NYSE:RWT, "Redwood" or the "Company"))), a leader in expanding access to housing for homebuyers and renters, today announced that its Board of Directors (the "Board") has declared second quarter 2024 common and preferred stock dividends. Common Stock Dividend The Board has authorized the declaration of a second quarter 2024 regular common stock dividend of $0.16 per share. This marks the Company's 100th consecutive quarterly common dividend. The second quarter 2024 common stock dividend is payable on June 28, 2024 to stockholders of record on June 21, 2024. Preferred Stock Dividend In accordance with the terms of Redwood's 10.00% Series A Fixed-Rate Reset Cumula
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CoreVest American Finance Lender, LLC ("CoreVest"), a leading lender to residential real estate investors nationwide and a division of Redwood Trust, Inc. ("Redwood"), is pleased to announce the promotion of Fred Matera to Chief Executive Officer. A tenured leader at Redwood, Fred has served as CoreVest's Co-Head for the last year and has been an integral part of Redwood's leadership team since 2019. In his new role, Fred will continue to report to Dash Robinson, Redwood's President. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241031081671/en/Fred Matera Promoted to Chief Executive Officer of CoreVest (Photo: Business Wire) As
Redwood Trust, Inc. (NYSE:RWT, "Redwood" or the "Company")), a leader in expanding access to housing for homebuyers and renters, is excited to announce the hiring of two key leaders to strengthen its commitment to innovation in technology and product development, strategic initiatives that are central to Redwood's mission of making quality housing – whether rented or owned – accessible to all American households. Abhinav Asthana joins the company as Chief Technology Officer, effective November 1st. With a distinguished track record of driving progress in mortgage technology, Abhinav will lead the Company's efforts to enhance its product offerings through an expansion of its digital capabil
Redwood Trust, Inc. (NYSE:RWT, ", Redwood", , the ", Company", )), a leader in expanding access to housing for homebuyers and renters, today reported its financial results for the quarter ended September 30, 2024. Key Q3 2024 Financial Results and Metrics GAAP book value per common share was $8.74 at September 30, 2024, relative to $8.73 per share at June 30, 2024 Economic return on book value of 2.1% for the third quarter and 6.8% year to date 2024(1) GAAP net income available to common stockholders of $13.1 million or $0.09 per basic and diluted common share Non-GAAP Earnings Available for Distribution ("EAD") of $25.2 million or $0.18 per basic common share(2) Recourse lever
Redwood Trust, Inc. (NYSE:RWT, "Redwood" or the "Company"))), a leader in expanding access to housing for homebuyers and renters, is scheduled to release its third quarter 2024 results on Wednesday, October 30, 2024 after the close of the New York Stock Exchange. In addition, Redwood's senior management team plans to hold a conference call to discuss its third quarter 2024 financial results later that same day at 5:00 p.m. Eastern Time / 2:00 p.m. Pacific Time. Webcast Information The conference call will be webcast live in listen-only mode through the News & Events section of Redwood Trust's Investor Relations website at https://www.redwoodtrust.com/investor-relations/news-events/events.
Redwood Trust, Inc. (NYSE:RWT, "Redwood" or the "Company"))) today announced that it priced approximately $40 million aggregate principal amount of its 7.75% convertible senior notes due 2027 (the "Notes") in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). The Notes will be issued as a reopening of, and will be part of the same series as, the 7.75% convertible senior notes due 2027 that the Company originally issued in June 2022 (the "Initial Notes"), of which $207,410,000 aggregate principal amount is currently outstanding. While the Notes will initially trade u
Redwood Trust, Inc. (NYSE:RWT, "Redwood" or the "Company"))), a leader in expanding access to housing for homebuyers and renters, today announced that its Board of Directors (the "Board") has declared third quarter 2024 common and preferred stock dividends. Common Stock Dividend The Board has authorized the declaration of a third quarter 2024 regular common stock dividend of $0.17 per share, a 6.25% increase from the second quarter of 2024. This marks the Company's 101st consecutive quarterly common dividend. The third quarter 2024 common stock dividend is payable on September 30, 2024 to stockholders of record on September 23, 2024. "We are pleased to announce an increase in our common
Redwood Trust, Inc. (NYSE:RWT, ", Redwood", , the ", Company", , ", we", or ", our", ))), a leader in expanding access to housing for homebuyers and renters, today reported its financial results for the quarter ended June 30, 2024. Key Q2 2024 Financial Results and Metrics GAAP book value per common share was $8.73 at June 30, 2024, relative to $8.78 per share at March 31, 2024 Economic return on book value of 1.3% for the second quarter and 4.7% for the first half of 2024(1) GAAP net income available to common stockholders of $13.8 million or $0.10 per basic and diluted common share Non-GAAP Earnings Available for Distribution ("EAD") of $18.6 million or $0.13 per basic com
Redwood Trust, Inc. (NYSE:RWT, "Redwood" or the "Company"))), a leader in expanding access to housing for homebuyers and renters, is scheduled to release its second quarter 2024 results on August 1, 2024 prior to the opening of the New York Stock Exchange. In addition, Redwood's senior management team plans to hold a conference call to discuss its second quarter 2024 financial results on August 1, 2024 at 5:00 a.m. Pacific Time / 8:00 a.m. Eastern Time. Webcast Information The conference call will be webcast live in listen-only mode through the News & Events section of Redwood Trust's Investor Relations website at https://www.redwoodtrust.com/investor-relations/news-events/events. To li
Redwood Trust, Inc. (NYSE:RWT, "Redwood" or the "Company"))), a leader in expanding access to housing for homebuyers and renters, today announced that its Board of Directors (the "Board") has declared second quarter 2024 common and preferred stock dividends. Common Stock Dividend The Board has authorized the declaration of a second quarter 2024 regular common stock dividend of $0.16 per share. This marks the Company's 100th consecutive quarterly common dividend. The second quarter 2024 common stock dividend is payable on June 28, 2024 to stockholders of record on June 21, 2024. Preferred Stock Dividend In accordance with the terms of Redwood's 10.00% Series A Fixed-Rate Reset Cumula
Redwood Trust, Inc. (NYSE:RWT, ", Redwood", , the ", Company", , ", we", or ", our", ))), a leader in expanding access to housing for homebuyers and renters, today reported its financial results for the quarter ended March 31, 2024. Key Q1 2024 Financial Results and Metrics GAAP book value per common share was $8.78 at March 31, 2024, a 1.6% increase from $8.64 per share at December 31, 2023 Quarterly economic return on book value was 3.5%(1) GAAP net income available to common stockholders of $29 million or $0.21 per diluted common share Non-GAAP Earnings Available for Distribution ("EAD") of $11 million or $0.08 per basic common share(2) Recourse leverage ratio of 1.9x
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Redwood Trust, Inc. (NYSE:RWT, "Redwood", or the "Company"))), a leader in expanding access to housing for homebuyers and renters, today announced that Doneene K. Damon has been appointed to its Board of Directors (the "Board"). Ms. Damon joined the Board effective November 2, 2023. "We are pleased to welcome Doneene to the Board as an independent director," said Greg Kubicek, Chair of Redwood's Board of Directors. "Doneene brings more than three decades of experience as a trusted advisor to corporate clients, an extensive background in both traditional and innovative structured finance and capital markets transactions, and significant leadership experience across a variety of private sec
Fred Matera Named Chief Investment Officer Planned CoreVest Leadership Transition to be Completed on Third Anniversary of Acquisition Redwood Trust, Inc. (NYSE:RWT) ("Redwood" or the "Company"), a leader in expanding access to housing for homebuyers and renters, today announced changes to its leadership team as part of a strategic evolution of its organizational structure. Fred Matera, Redwood's current Head of Residential, will assume the role of Chief Investment Officer of Redwood, overseeing centralized investment, capital markets and distribution functions across the Company's investment portfolio and Business Purpose Lending and Residential Mortgage Banking businesses. In addition,
Navidea Biopharmaceuticals, Inc. (NYSE:NAVB) ("Navidea" or the "Company"), a company focused on the development of precision immunodiagnostic agents and immunotherapeutics, today announced the appointment of Thomas Forest Farb-Horch and Agnieszka Winkler to its Board of Directors, effective October 7, 2021, each with a three-year term ending concurrently with the Company's 2024 annual stockholders' meeting. Thomas Forest Farb-Horch has over three decades of experience as an investor in and senior executive of numerous life science and information technology companies both in the U.S. and internationally. Mr. Farb has served as the Chief Executive Officer, President, co-founder and director
MILL VALLEY, Calif., Sept. 2, 2021 /PRNewswire/ -- Redwood Trust, Inc. (NYSE:RWT), a leader in expanding access to housing for homebuyers and renters, today announced that its President, Dashiell Robinson, has also been appointed to serve on its Board of Directors, effective August 27, 2021. Mr. Robinson joined Redwood in 2017 from Wells Fargo Securities, where he served as the Head of Mortgage Finance within the Asset-Backed Finance Group. "Since joining Redwood, Dash has played a fundamental role in shaping and implementing Redwood's strategic vision of being a leading ope
MILL VALLEY, Calif., March 30, 2021 /PRNewswire/ -- Redwood Trust, Inc. (NYSE: RWT) a leader in expanding access to housing for homebuyers and renters, today announced that Faith A. Schwartz and Armando Falcon have been appointed to serve on its Board of Directors. Ms. Schwartz is the President of Housing Finance Strategies, LLC, a professional services and advisory practice focusing on capital markets, rating agencies, and mortgage modernization and innovation, which she founded in 2016. Ms. Schwartz currently serves on the Board of Directors of Gateway First Bank, as well as on the boards of several other privately held mortgage industry-focused companies, including FormFree Holdings Cor
JMP Securities analyst Steven Delaney maintains Redwood Trust (NYSE:RWT) with a Market Outperform and raises the price target from $8 to $8.5.
Throughout the last three months, 6 analysts have evaluated Redwood Trust (NYSE:RWT), offering a diverse set of opinions from bullish to bearish. The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 3 2 0 0 Last 30D 0 1 0 0 0 1M Ago 0 0 0 0 0 2M Ago 1 0 0 0 0 3M Ago 0 2 2 0 0 Insights from analysts' 12-month price targets are revealed, presenting an average target of $7.29, a high estimate of $8.00, and a low estimate of $6.50. A negative shift in sentiment is evident as analysts have
JP Morgan analyst Richard Shane maintains Redwood Trust (NYSE:RWT) with a Overweight and raises the price target from $7 to $7.5.
Redwood intends to use the net proceeds from the offering for general corporate purposes
In the last three months, 7 analysts have published ratings on Redwood Trust (NYSE:RWT), offering a diverse range of perspectives from bullish to bearish. The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 4 2 0 0 Last 30D 1 0 0 0 0 1M Ago 0 0 0 0 0 2M Ago 0 2 2 0 0 3M Ago 0 2 0 0 0 Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $7.36, a high estimate of $8.00, and a low estimate of $6.50. A negative shift
Jones Trading analyst Jason Weaver initiates coverage on Redwood Trust (NYSE:RWT) with a Buy rating and announces Price Target of $7.25.
Mortgage applications in the U.S. saw an increase of 1.9% for the week ending May 17, continuing an upward trend following a 0.5% rise the previous week. This marks the third consecutive week of growth in mortgage demand, according to data released Wednesday from the Mortgage Bankers Association (MBA). The rise in applications aligns with a decrease in average mortgage rates, which reached a seven-week low due to expectations of lower inflation reducing long-dated Treasury yields. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased by 7 basis points to 7.01% during the week ending May 17, MBA data indicated. Thi
Ratings for Redwood Trust (NYSE:RWT) were provided by 11 analysts in the past three months, showcasing a mix of bullish and bearish perspectives. The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 6 4 0 0 Last 30D 0 0 1 0 0 1M Ago 0 4 1 0 0 2M Ago 1 0 0 0 0 3M Ago 0 2 2 0 0 The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $7.5, a high estimate of $8.50, and a low estimate of $6.50. A negative shift in sentiment is evident as ana
Wedbush analyst Jay McCanless reiterates Redwood Trust (NYSE:RWT) with a Neutral and maintains $6.5 price target.
Wedbush analyst Jay McCanless reiterates Redwood Trust (NYSE:RWT) with a Neutral and maintains $6.5 price target.
Wedbush downgraded Redwood Trust from Outperform to Neutral
UBS initiated coverage of Redwood Trust with a rating of Buy and set a new price target of $9.00
BTIG Research upgraded Redwood Trust from Neutral to Buy and set a new price target of $8.50
Piper Sandler downgraded Redwood Trust from Overweight to Neutral and set a new price target of $7.00
Wedbush initiated coverage of Redwood Trust with a rating of Outperform and set a new price target of $9.00
BTIG Research downgraded Redwood Trust from Buy to Neutral
JP Morgan initiated coverage of Redwood Trust with a rating of Overweight and set a new price target of $11.50
Credit Suisse reiterated coverage of Redwood Trust with a rating of Outperform and set a new price target of $14.00 from $16.00 previously
Wells Fargo reiterated coverage of Redwood Trust with a rating of Equal-Weight and set a new price target of $14.00
Raymond James reiterated coverage of Redwood Trust with a rating of Strong Buy and set a new price target of $16.50 from $16.00 previously