Redwood Trust, Inc. Stock News

Redwood Trust, Inc. (NYSE:RWT ) Q3 2024 Earnings Conference Call October 30, 2024 5:00 PM ET Company Participants Kaitlyn Mauritz – Head of Investor Relations Chris Abate – Chief Executive Officer Dash Robinson – President Brooke Carillo – Chief Financial Officer Conference Call Participants Rick Shane – JPMorgan Bose George – KBW Jason Weaver – Jones Trading Doug Harter – UBS Don Fandetti – We...

MILL VALLEY, Calif.--(BUSINESS WIRE)--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...

MILL VALLEY, Calif.--(BUSINESS WIRE)--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 E...

MILL VALLEY, Calif.--(BUSINESS WIRE)--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 thi...

MILL VALLEY, Calif.--(BUSINESS WIRE)--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 amend...

The Fed's pivot from raising to cutting rates has reduced discounts on fixed-to-floating rate preferred stocks, prompting a reevaluation of Redwood Trust 10.0% Series A Preferred (RWT.PR.A). Fixed-to-floating rate preferreds like Annaly Capital Management Series F and AGNC Investment Series C saw significant dividend increases but faced declining yields as SOFR rates dropped. RWT.PR.A offers a ...

Redwood Trust's Series A preferred shares offer a 10% coupon but are subordinate to debentures, making them riskier in a restructuring scenario. The REIT's heavy near-term debt load and low earnings due to high rates make debentures, yielding close to 9%, more attractive. Preferred shares will perform well only in a 'goldilocks' scenario with lower mortgage rates and stable credit spreads, whic...

MILL VALLEY, Calif.--(BUSINESS WIRE)--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 ...