Redwood Trust (RWT) Tops Q4 EPS by 9c

Redwood Trust (NYSE: RWT) reported Q4 EPS of $0.45, $0.09 better than the analyst estimate of $0.36. Revenue for the quarter came in at $61 million versus the consensus estimate of $41.37 million.

"The fourth quarter capped a historic year for Redwood. We made significant progress executing on our strategic initiatives; optimizing our portfolio, expanding our reach into multifamily and business purpose lending and implementing operational efficiencies. We are now one of the largest originators of business purpose residential loans and have two of the largest and most highly regarded issuance platforms in the private-label securitization market," said Chris Abate, Chief Executive Officer of Redwood Trust. "Our hard work is reflected in our fourth quarter and full year results, which culminated in today\'s announcement of a 6.7% dividend increase to $0.32 per share for the first quarter of 2020."

Abate concluded, "We are committed to serving our mission to help make quality housing accessible to all Americans, whether it's rented or owned, and generating solid risk-adjusted returns that can sustainably grow our dividend over time for our shareholders."

For earnings history and earnings-related data on Redwood Trust (RWT) click here.

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