Redwood Trust, Inc.

Redwood Trust, Inc.

RWT
Redwood Trust, Inc.US flagNew York Stock Exchange
5.37
USD
+0.05
- -
672.41MMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
3.49
2.31
2.28
2.82
2.99
2.42
2.16
-3.25
4.53
-0.23
1.24
1.69
1.01
0.9
Basic EPS, GAAP
2.1
1.21
1.23
1.71
1.83
1.41
1.24
-5.19
2.78
-1.39
-0.08
0.36
-0.59
-0.77
Free Cash Flow per Basic Share
-2.73
-22.02
-15.46
-7.1
-22.37
-19.29
-8.52
-4.51
-49.56
-1.19
-17.34
-44.4
-77.5
-98.11
Dividend per Share
1.14
1.14
1.14
1.15
1.15
1.14
0.95
0.75
0.8
0.95
0.8
0.76
0.81
0.81
Book Value per Share
-8.05
-7.89
-7.74
-7.79
-7.14
-6.17
-3.54
-10.26
11.47
9.85
9.85
-10.15
-11.64
-12
Tangible Book Value per Share
14.31
13.38
11.51
13.42
15
15.89
12.18
9.4
11.7
8.7
9.32
8.17
6.77
6.03
Basic Weighted Avg Shares
83
83
83
77
77
85
137
112
115
117
116
132
130
129
Sales/Revenue/Turnover
288
192
189
217
229
206
296
-364
520
-27
144
223
131
116
Operating Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Depreciation Expense
- -
1
1
1
1
1
10
17
17
16
15
12
10
10
Net Income, GAAP
173
101
102
131
140
120
169
-582
320
-164
-2
54
-70
-92
Effective Tax Rate (%)
5.94
0.73
- -
2.75
7.72
8.48
4.21
- -
5.47
- -
- -
25.86
- -
28.57
Profit Margin (%)
60.25
52.27
54.07
60.58
61.23
58.18
57.17
159.77
61.46
606.93
-1.58
24.18
-53.47
-79.27
Working Capital
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
LT Debt
2,419
2,740
3,077
3,394
3,740
7,982
13,344
8,404
10,777
9,600
11,493
14,645
18,884
21,800
Total Equity
1,246
1,256
1,146
1,149
1,212
1,349
1,827
1,111
1,386
1,084
1,203
1,188
983
957
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Common Equity (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
-13.23
-0.78
4.02
- -
-15.15

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
3,042
3,248
3,251
LT Borrowings
17,973
18,874
21,791
LT Finance Leases
12
11
10
Preferred Equity and Hybrid Capital
67
67
67
Shares Outstanding
127
124
125
Market Capitalization
763
728
723

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
- -
- -
- -
Cash, Cash Equivalents & STI
511
543
497
Accounts Receivable, Net
123
131
143
Inventories
- -
- -
- -
Total Current Liabilities
- -
- -
- -
Payables & Accruals
264
274
302
ST Debt
3,042
3,248
3,251
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
0.87%
-0.92%
-17.28%
Free Cash Flow
260.75%
508.16%
72.19%
Net Income, GAAP
-349.1%
-621.84%
-229.67%
Sales/Revenue/Turnover
-113.71%
-193.64%
-41.35%
Total Cash Common Dividend
2.35%
4.45%
6.54%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
69
59
60
35
223
2025
64
-53
43
77
131
2026
48
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.22
0.1
0.1
-0.06
0.36
2025
0.11
-0.75
-0.07
- -
-0.59
2026
-0.06
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.18
0.18
0.19
0.2
0.76
2025
0.2
0.2
0.2
- -
0.81
2026
0.2
- -
- -
- -
- -

Company Description

APIChat
CEO
Christopher J. Abate
Full Time Employees
283
Sector
Real Estate
Industry
REIT - Mortgage
Address
One Belvedere Place Mill Valley CA United States of America 94941
IPO Date
Aug 4, 1995
Business
Redwood Trust, Inc. (NYSE: RWT) is a specialty finance company focused on distinct areas of housing credit, providing liquidity to segments of the U.S. housing market underserved by government programs through securitization platforms, whole-loan distribution, and publicly traded shares. The company operates in three primary segments: Sequoia Mortgage Banking, which acquires residential consumer loans from third-party originators for whole-loan sales and securitization; CoreVest Mortgage Banking, which originates residential investor loans for securitization, sale, or portfolio transfer; and Redwood Investments, which holds organic investments including securities retained from Sequoia and CoreVest securitizations, alongside a diverse mix of residential, business purpose, and multifamily assets. Additional platforms include Aspire for business purpose lending and RWT Horizons for venture investments in lending, real estate, and financial technology aligned with core operations. Founded in 1994 and headquartered in Mill Valley, California, Redwood Trust functions as an internally managed real estate investment trust targeting institutional and retail investors in the U.S. housing finance market. In recent developments, Redwood Trust formed a US$750 million strategic capital partnership with CPP Investments in March 2024, comprising a US$500 million asset joint venture for residential investor bridge and term loans targeting over US$4 billion in acquisitions, and a US$250 million revolving secured corporate financing facility to scale mortgage banking platforms, with CPP Investments receiving warrants for Redwood common stock. The company expanded this alliance in 2025 with an increased financing facility to US$400 million, enhancing capital flexibility amid a strategic pivot to core operations. Further advancements include pricing a reopening of US$50 million 7.75% convertible senior notes due 2027 in August 2025 to refinance prior notes and fund platforms like Sequoia, Aspire, and CoreVest; an upsized US$150 million common stock repurchase authorization in July 2025; and accelerated wind-down of legacy multifamily bridge loans and third-party securities to reallocate US$200-250 million in capital by year-end 2025 toward higher-returning mortgage banking and investments. These moves support record production volumes in Q3 2025 and position legacy investments at approximately 20% of capital by end-2025.

Company News

APIChat
  • RWT Capital Closes H2Oil Energy Sale to GFL Environmental Amid Energy M&A Boom

  • RWTS: A 9.75% Senior Note IPO From Redwood Trust

  • Redwood Trust Preferred A: Downside Ahead From Higher Rates (Rating Downgrade)

  • Redwood Trust Prices $125.0 Million Senior Notes Offering

  • Redwood Trust Prices $125.0 Million Senior Notes Offering

  • REITs Excel, Earnings Swell, Fed Rebels

  • Redwood Trust (RWT) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

  • Redwood Trust (RWT) Matches Q1 Earnings Estimates

  • Redwood Trust Reports First Quarter Financial Results; Mortgage Banking Production Reaches a Record $8.5 Billion

  • Castlelake and Redwood Trust Announce Strategic Joint Venture to Purchase up to $8 Billion of Prime Jumbo Mortgage Loans

  • Will Redwood Trust (RWT) Beat Estimates Again in Its Next Earnings Report?

  • Redwood Trust Set to Report Q1 Earnings: Here's What to Expect

  • Redwood Trust (RWT) Projected to Post Earnings on Wednesday

  • Redwood Trust, Inc. (NYSE:RWT) Given Average Recommendation of “Hold” by Analysts

  • Redwood Trust (RWT) Reports Next Week: Wall Street Expects Earnings Growth

  • Redwood Trust, Inc. $RWT Shares Purchased by Evergreen Capital Management LLC

  • Redwood Trust Announces Date of First Quarter 2026 Financial Results Webcast and Conference Call

  • Buy 8 S&P 600 Small-Cap 'Safer' April DiviDogs

  • Top Affordable REITs to Boost Your Portfolio Income

  • Redwood Trust Announces Closing of Sequoia's Inaugural Medical Professional Loan Securitization