24.02.2015 01:14:33
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Redwood Profit Rises, Yet Misses Estimates
(RTTNews) - Specialty finance company Redwood Trust Inc (RWT) on Monday reported fourth-quarter net earnings of $27 million or $0.31 per share compared with $25 million or $0.29 per share last year.
Analysts polled by Thomson Reuters estimated earnings of $0.35 per share for the quarter. Analysts' estimates typically exclude special items.
The company's net interest income for the quarter rose to $41 million from $38 million in the prior year, topping analysts' expectations of $40 million.
Non interest income totaled $11 million versus $25 million a year ago.
The company said that while its jumbo and conforming residential mortgage banking margins improved, earnings were somewhat offset by lower commercial mortgage banking income, reduced MSR valuations, fewer realized gains from sales of securities and year-end corporate expense adjustments.
Redwood has declared a quarterly dividend of $0.28 per share.
Redwood focuses on investing in mortgage and other real estate-related assets and engaging in residential and commercial mortgage banking activities.
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Redwood Trust IncShs | 6,29 | 0,41% |
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