redwood trust, inc. (nyse: rwt) is a specialty finance company focused on making credit sensitive investments in residential loans and other mortgage-related assets, with the goal of delivering a stable and growing stream of attractive earnings and dividends for our shareholders. we also earn income through our residential mortgage banking activities. redwood trust, inc. was established in 1994, is internally managed, and structured as a real estate investment trust (“reit”) for tax purposes. our employees are a team of disciplined, dedicated and talented professionals who do what it takes to make the company a leader in innovation and reputation. we value everyone's contribution, actively soliciting feedback at all levels within the organization. work gets done in a non-hierarchical, hard-working and fun environment.
Company profile
Ticker
RWT, RWT+A, RWTN
Exchange
Website
CEO
Christopher Abate
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Corporate docs
Subsidiaries
OF REDWOOD TRUST, INC. • Redwood Residential Acquisition Corporation • RWT Holdings, Inc. • RWT Securities, LLC • Sequoia Residential Funding, Inc. • CoreVest American Finance Lender LLC ...
IRS number
680329422
RWT stock data
Latest filings (excl ownership)
DEFA14A
Additional proxy soliciting materials
1 Apr 24
DEF 14A
Definitive proxy
1 Apr 24
8-K
Redwood Trust and CPP Investments Announce $750 Million Strategic Capital Partnership
19 Mar 24
8-K
Redwood Trust Declares First Quarter 2024 Common and Preferred Dividends
7 Mar 24
8-K
Redwood Trust Reports Fourth Quarter 2023 Financial Results
20 Feb 24
CERT
Certification of approval for exchange listing
30 Jan 24
8-K
Redwood Trust Announces Dividend Distribution Tax Information for 2023
30 Jan 24
8-K
Entry into a Material Definitive Agreement
22 Jan 24
8-A12B
Registration of securities on exchange
22 Jan 24
424B5
Prospectus supplement for primary offering
18 Jan 24
Transcripts
RWT
Earnings call transcript
2023 Q4
20 Feb 24
RWT
Earnings call transcript
2023 Q3
30 Oct 23
RWT
Earnings call transcript
2023 Q2
27 Jul 23
RWT
Earnings call transcript
2023 Q1
27 Apr 23
RWT
Earnings call transcript
2022 Q4
9 Feb 23
RWT
Earnings call transcript
2022 Q3
28 Oct 22
RWT
Earnings call transcript
2022 Q2
29 Jul 22
RWT
Earnings call transcript
2022 Q1
29 Apr 22
RWT
Earnings call transcript
2021 Q4
10 Feb 22
RWT
Earnings call transcript
2021 Q3
28 Oct 21
Latest ownership filings
4
Sasha G. Macomber
18 Apr 24
4
Andrew P Stone
18 Apr 24
4
Dashiell I Robinson
18 Apr 24
4
Christopher J Abate
18 Apr 24
SC 13G
Bay Pond Partners, L.P.
15 Apr 24
4
Doneene K Damon
28 Mar 24
4
Horvath D Debora
28 Mar 24
4
GEORGANNE PROCTOR
28 Mar 24
4
GREG H KUBICEK
28 Mar 24
4
Sasha G. Macomber
4 Mar 24
Financial summary
Quarter (USD) | Sep 23 | Jun 23 | Mar 23 | Dec 22 | |
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Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Annual (USD) | Dec 22 | Dec 21 | Dec 20 | Dec 19 | |
---|---|---|---|---|---|
Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 259.72 mm | 259.72 mm | 259.72 mm | 259.72 mm | 259.72 mm | 259.72 mm |
Cash burn (monthly) | 62.37 mm | 9.11 mm | 9.70 mm | 6.35 mm | 297.01 mm | 73.10 mm |
Cash used (since last report) | 416.74 mm | 60.89 mm | 64.84 mm | 42.41 mm | 1.98 bn | 488.40 mm |
Cash remaining | -157.02 mm | 198.83 mm | 194.88 mm | 217.31 mm | -1.72 bn | -228.68 mm |
Runway (months of cash) | -2.5 | 21.8 | 20.1 | 34.2 | -5.8 | -3.1 |
Institutional ownership, Q3 2023
3.1% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 1 |
Opened positions | 0 |
Closed positions | 210 |
Increased positions | 0 |
Reduced positions | 0 |
13F shares | Current |
---|---|
Total value | 60.57 mm |
Total shares | 4.02 mm |
Total puts | 0.00 |
Total calls | 0.00 |
Total put/call ratio | – |
Largest owners | Shares | Value |
---|---|---|
Linden Capital | 4.02 mm | $60.57 mm |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
16 Apr 24 | Abate Christopher J | Common Stock | Option exercise | Acquire M | No | No | 5.59 | 99,229 | 554.69 k | 394,729 |
16 Apr 24 | Abate Christopher J | Performance Stock Units Common Stock | Payment of exercise | Dispose F | No | No | 10.42 | 115,320 | 1.20 mm | 0 |
16 Apr 24 | Abate Christopher J | Performance Stock Units Common Stock | Option exercise | Dispose M | No | No | 10.42 | 99,229 | 1.03 mm | 115,320 |
16 Apr 24 | Dashiell I Robinson | Common Stock | Option exercise | Acquire M | No | No | 5.59 | 66,153 | 369.80 k | 215,211 |
16 Apr 24 | Dashiell I Robinson | Performance Stock Units Common Stock | Payment of exercise | Dispose F | No | No | 10.42 | 76,879 | 801.08 k | 0 |
16 Apr 24 | Dashiell I Robinson | Performance Stock Units Common Stock | Option exercise | Dispose M | No | No | 10.42 | 66,153 | 689.31 k | 76,879 |
16 Apr 24 | Andrew P Stone | Common Stock | Option exercise | Acquire M | No | No | 5.59 | 27,784 | 155.31 k | 149,671 |
16 Apr 24 | Andrew P Stone | Performance Stock Units Common Stock | Payment of exercise | Dispose F | No | No | 10.42 | 32,289 | 336.45 k | 0 |
16 Apr 24 | Andrew P Stone | Performance Stock Units Common Stock | Option exercise | Dispose M | No | No | 10.42 | 27,784 | 289.51 k | 32,289 |
16 Apr 24 | Sasha G. Macomber | Common Stock | Option exercise | Acquire M | No | No | 5.59 | 21,168 | 118.33 k | 50,895 |
News
JMP Securities Reiterates Market Outperform on Redwood Trust, Maintains $8 Price Target
19 Apr 24
Wedbush Downgrades Redwood Trust to Neutral
11 Apr 24
Keefe, Bruyette & Woods Maintains Outperform on Redwood Trust, Lowers Price Target to $7.25
10 Apr 24
JMP Securities Reiterates Market Outperform on Redwood Trust, Maintains $8 Price Target
10 Apr 24
Redwood Trust and CPP Investments Announce $750 Million Strategic Capital Partnership
19 Mar 24
Press releases
Redwood Trust Announces Date of First Quarter 2024 Financial Results Webcast and Conference Call
16 Apr 24
Redwood Trust and CPP Investments Announce $750 Million Strategic Capital Partnership
19 Mar 24
Redwood Trust Declares First Quarter 2024 Common and Preferred Dividends
7 Mar 24
Redwood Trust Reports Fourth Quarter 2023 Financial Results
20 Feb 24
Redwood Trust Announces Date of Fourth Quarter 2023 Financial Results Webcast and Conference Call
1 Feb 24