Redwood Trust Q2 Profit Rises

(RTTNews) - Redwood Trust Inc (RWT) on Wednesday reported second-quarter net income of $27 million or $0.31 per share, up from $16 million or $0.18 per share last year.

Analysts polled by Thomson Reuters estimated earnings of $0.40 per share for the quarter. Analysts' estimates typically exclude special items.

Net interest income for the quarter rose to $40 million from $37 million last year. Analysts estimated revenues of $38.7 million.

Non interest income climbed to $14 million from $1 million a year ago.

Redwood announced a quarterly dividend of $0.28 per share.

Redwood Trust focuses on investing in mortgage-and other real estate-related assets, and engages in residential and commercial mortgage banking activities.