PR Newswire (May 16, 2013)
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PR Newswire (May 16, 2013)
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RWT vs. ETF Alternatives
Company Description
Redwood Trust, Inc., together with its subsidiaries, is a financial institution that seeks to invest in real estate related assets that have the potential to provide attractive cash flows over a long period of time and support our goal of distributing attractive levels of dividends to our... More
- All
- | Earnings
- | Dividends
- | M&A
- | On the move
- Friday, May 17, 8:11 AM Redwood Trust (RWT) declares $0.28/share quarterly dividend, in line with previous. Forward yield 5.48%. For shareholders of record June 14. Payable June 28. Ex-div date June12. (PR) Comment! [Dividends]
- Wednesday, May 15, 12:07 PM Positioned as about the only way to play the return of private capital to the mortgage market, Redwood Trust (RWT) might be as close as you can get to owning a money-printing machine. FRB's Paul Miller sees significant upside for both earnings and dividends over the next two years as the GSEs back away and private-label securitizations step in. Redwood issued its 7th securitization of the year this week. Comment! [Financials, Quick Ideas]
- Friday, May 3, 7:47 AM More on Redwood Trust (RWT) Q1 earnings: Estimated REIT taxable income of $0.20/share vs. $0.23 in Q4, $0.13 a year ago. Net interest income of $35M vs. $28M a year ago. Mortgage banking income of $44M vs. $4M a year ago as the securitization business picked up (along with the shares, a double Y/Y). Q1 Redwood Review: "We expect our residential loan sale margins to decline from the extraordinarily high levels we realized in Q4 and much of 2013 Q1, due to the recent pullback in prices for AAA-rated RMBS." Book value/share of $14.54 up from $12.22 a year ago. (PR) Comment! [Financials, Earnings]
- Friday, May 3, 6:46 AM Redwood Trust (RWT): Q1 EPS of $0.69 beats by $0.23. (PR) Comment! [Earnings, Breaking News, Financials]
- Tuesday, April 23, 1:25 PM There's another entrant into the reborn private-label mortgage securitization business as PennyMac Mortgage Investment (PMT) management unveils a plan to issue its first RMBS in Q3. "(It's) a significant new opportunity," says CEO Stan Kurland. Redwood Trust (RWT) investors nod in agreement. 1 Comment [Earnings, Financials]
- Monday, March 25, 1:45 PM JPMorgan's (JPM) new private-label RMBS - its first since the crisis - likely wouldn't earn a AAA, says Moody's. The move is part of a continuing battle between issuers and insurers over who should bear the losses for bad loans. Fitch and DBRS have blessed the paper with a AAA. The only other RMBS issuer of note since the crisis - Redwood Trust (RWT) - remains en fuego. Comment! [Financials]
- Tuesday, March 12, 3:33 PM The curious selloff following Redwood Trust's (RWT) blowout Q4 earnings on Feb.22 looks curiouser with each passing day. The stock's up 3.9% today and 16% since earnings. Deutsche bumped its price target amidst the selloff and Jefferies lifted its last week. Today the company announced presale results on its 4th private MBS, a $576M package. 1 Comment [Financials, On the Move]
- Thursday, February 28, 10:11 AM Credit Suisse (CS) becomes just the 2nd issuer (RWT is the other) of MBS backed by jumbo loans since the crash with a $425,7M deal. Fitch assigned a top rating to the vast majority of the paper, which has a loss buffer of 7.05%. Reportedly a partner in the securitization is Two Harbors (TWO). 2 Comments [Financials]
- Wednesday, February 27, 3:14 PM Jumbo mortgages are back - something owners of Redwood Trust (RWT) already know - but can the rebound continue? With $200B of jumbo mortgages closed in 2012 and $220B expected (by some) in 2013, levels haven't returned to anywhere near the $348B seen in 2007. Helping are narrowing spreads, down to just 23 bps over conventional mortgages on a 30-year fixed. Comment! [U.S. Economy, Financials]
- Friday, February 22, 1:31 PM Investors in Redwood Trust (RWT -3.5%) take profits and maybe create a buying opportunity after the company blows past earnings estimates. In its shareholder letter (no earnings call), management states a goal of $7B in jumbo loans acquired and securitized in 2013 (did $2.3B in 2012). Deutsche bumps its price target to $25.50 from $20.50. 1 Comment [Financials, Quick Ideas]
- Thursday, February 21, 6:01 PM Redwood Trust (RWT): Q4 EPS of $0.50 vs. $0.48 in 4Q11. (PR) Comment! [Earnings, Breaking News]
- Wednesday, February 20, 6:30 PM Redwood Trust, Inc. (RWT) declares $0.28/share quarterly dividend, 12% increase from prior dividend of $0.25. Forward yield 5.59%. For shareholders of record Mar. 15. Payable Mar. 29. Ex-div date Mar. 13. (PR) Comment! [Dividends]
- Wednesday, February 20, 3:43 PM JPMorgan (JPM) is prepping its first sale of private-label mortgages since the financial crisis, reports Bloomberg. The revival of non-agency MBS can be seen in the stock price of Redwood Trust (RWT) - other than Credit Suisse - the only issuer of such since 2008. Not subprime, these bonds are backed by good credits on jumbo loans bigger than what the GSEs will accept. 1 Comment [Financials, U.S. Economy]
- Monday, February 11, 11:33 AM Nothing speaks to the improvement in housing like the performance of Redwood Trust (RWT) - a near-double over the past year. Not one of the $4B in jumbo loans it has securitized since 2010 has defaulted, and business is just starting to pick up - jumbo loan originations are expected to rise another 15% this year. 2 Comments [U.S. Economy, Financials]
- Tuesday, December 18, 2012, 10:32 AM Ellington Financial (EFC +1.5%) gains as Thomas Lott points it out as a cheaper, better-performing alternative to many of its peers in the mREIT industry. The company is actually a partnership - a good thing, writes Lott, as it allows management investment flexibility not available to REITs. The CIO is former Kidder mortgage trader Mike Vranos, who recently picked up more shares, and now owns 12% of the company. Comment! [Financials, On the Move]
- Wednesday, December 5, 2012, 3:16 PM More on Redwood Trust (RWT) (previous): The packager of non-agency MBS continues to stay busy, announcing the closing of a $291M securitization of mezzanine loans and other subordinate commercial real estate debt. (PR) Comment! [Financials]