Redwood Trust, Inc., is a specialty finance company in the United States. The company is headquartered in Mill Valley, California.
| Revenue (TTM) | $220.10M |
| Gross Profit (TTM) | $163.82M |
| EBITDA | — |
| Operating Margin | -389.20% |
| Return on Equity | -3.50% |
| Return on Assets | -0.12% |
| Revenue/Share (TTM) | $1.76 |
| Book Value | $7.13 |
| Price-to-Book | — |
| Price-to-Sales (TTM) | — |
| EV/Revenue | - |
| EV/EBITDA | — |
| Quarterly Earnings Growth (YoY) | 0.00% |
| Quarterly Revenue Growth (YoY) | -76.30% |
| Shares Outstanding | 0 |
| Float | $103.84M |
| % Insiders | 0.00% |
| % Institutions | 0.00% |
Volatility is currently contracting
Redwood Trust, Inc. slashed its dividend by 90% and is converting from a REIT to a taxable C-Corp structure. RWT's legacy portfolio remains a risk, with $682 million in non-core assets and high leverage at 9:1. The C-Corp shift unlocks $304 million in federal net operating losses and increases GAAP book value by $0.75 per share.
Redwood Trust, Inc. (RWT) reported disappointing financials, with legacy portfolio losses driving book value down from $7.12 to $6.9 per share. RWT's core mortgage business remains robust, posting strong volume growth and profitability without margin sacrifice, while the legacy segment continues to bleed. RWTQ 9.5% Senior Notes now yield 10.3%, reflecting increased risk from legacy losses and the company distributing more than it earns.
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