Redwood Trust Q2 Profit Down

(RTTNews) - Redwood Trust Inc. (RWT) Thursday reported second-quarter of $16 million or $0.18 per share, compared to $66 million or $0.71 per share last year.

Redwood reported estimated REIT taxable income of $14 million or $0.17 per share for the second quarter, compared to $20 million or $0.25 per share last year.

Net interest income for the quarter was $37 million, up from $36 million last year.

Analysts polled by Thomson Reuters estimated earnings of $0.31 per share and revenues of $39.55 million for the quarter. Analysts' estimates typically exclude one-time items.