Redwood Trust, Inc.

Symbol: RWT
CIK: 930236
Exchange: NYSE
Founded: 1994 (25 years)
HQ: Mill Valley, CA, United States
Type of REIT: Mortgage REIT
Listing Status: Public
Market Capitalization: Small-Cap
REIT Sector: Mortgage

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See RWT on SEC.gov

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 4.6   Dividend Section Rating

Rating Dividend Section Avg. Rating
6 Dividend Payment Growth: Analysis of how the REIT’s dividend payments have performed during the last three years. 5.4
7 Dividend Payment Consistency: Analysis of how many periods the REIT’s dividends have been paid consistently without a gap in payment. 4.6
4 Dividend to EPS Payout Ratio Health: Analysis of the REIT’s Dividend to EPS Payout Ratios during the last four quarters. 0.6
1 Dividend to EPS Payout Ratio Trend: Analysis of the REIT’s Dividend to EPS Payout Ratios trend during the last two years. 0.3
5 EPS Trend: Analysis of the REIT’s EPS trend during the last two years. 0.8
4.6 Overall Dividend Section Rating: The REIT’s total dividend score from the compilation of the below dividend analysis. 6.7

 N/A   Leverage Section Rating

Rating Leverage Section Avg. Rating
N/A Interest Coverage Health: Analysis of the REIT’s Interest Coverage health during the last four quarter. 6.5
N/A Interest Coverage Health Trend: Analysis of the REIT’s Interest Coverage health trend during the last two years. 7.2
N/A Total Debt Interest Rate Competitiveness: Analysis of the REIT’s Interest Rate to Total Debt competitiveness compared to REIT market. 8.5
N/A Total Debt Interest Rate Trend: Analysis of the REIT’s Interest Rate to Total Debt trend during the last two years. 8.2
1 Debt Leverage Health: Analysis of the REIT’s Total Debt to Total Assets. 6.2
3 Debt Leverage Health Trend: Analysis of the REIT’s Total Debt to Total Assets over the last two years. 7.0

 3.5   Asset & Revenue Section Rating

Rating Asset & Revenue Section Avg. Rating
0 G&A Effeciency Level: Analysis of the REIT’s General and Administrative expenses in relationship to its Revenues. 6.9
0 G&A Effeciency Trend: Analysis of the Trend of the REIT’s General and Administrative expenses in relationship to its Revenues. 7.7
4 Revenues Growth: Analysis of how the REIT's Revenue has performed over the last two years. 6.7
10 Total Asset Growth: Analysis of how the REIT has grown its Total Assets over the last two years. 7.4
3.5 Overall Asset & Revenue Section Rating: The REIT’s total Asset, Revenues, and Administrative expenses score from the compilation of the above analysis. 7.2


REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The REIT’s score for each analysis is out of ten points, with ten being the best score and zero being the worst. A score of zero can be assigned if the REIT does not meet the criteria for that specific analysis. N/A is assigned if insufficient data is available for a particular analysis. Our REITRating logic is continuously improving, so a REIT’s rating and ranking may change over time. Important Note: REITRating is not a predictor of a REIT’s future performance, it is an evaluation of its past results. Additionally, the REITRating system is for informational purposes only and does not represent financial or investment advice or a recommendation of which REITs to acquire. Learn more.

Stock Chart

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Hightlights of Trading Day September 13, 2019


Open Price: $16.89
Closing Price: $16.72
Price Change: -0.15 (-2.621%)
Lowest Price: $16.72
Highest Price: $16.91

52-Week Low: $14.29
52-Week High: $17.28
52-Week Change: 1.09%

5 Day Price Change: 2.14%
1 Month Price Change: 0.76%
3 Month Price Change: 7.92%
6 Month Price Change: 7.99%
YTD Price Change: 12.96%
1 Year Price Change: 3.81%
2 Year Price Change: -3.18%
5 Year Price Change: -16.74%

Dividend of Trading Day September 13, 2019


Dividend Yield: 7.177%*
Annualized Dividend: $1.2*
Dividend Yield (TTM): 7.177%
Annualized Dividend (TTM): $1.2
Ex Dividend Date: 2019-09-13
Dividend Frequency: Quarterly

*The forward annualized dividend and dividend yield are based on the most recent dividend value paid by the REIT. The REIT may have already announced their next upcoming dividend value, which may be different from previously paid dividend value. It is recommended to check the REIT's website and dividend announcements for the latest information on upcoming dividends and changes.

Latest News Headlines


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Earnings Per Share (EPS)


REITNotes' Dividend to Earning per Share (EPS) Payout Ratio graph is based on the REIT's dividend per diluted share divided by its Earnings per diluted share informed in the REIT’s Quarterly Earning Reports. For Mortgage REITs (mREITs) we display the Dividend to EPS Payout Ratio, while for Equity REITs, we display the Payout Ratio based on the Adjusted Funds From Operations (AFFO), or Core FFO, or Normalized FFO (NFFO), or Modified FFO (MFFO), Operating FFO as provided by the REIT.

Key Stats of Trading Day September 13, 2019


Total Cash: $205,077,000
Current Debt: $2,400,279,000
Revenue: $421,439,000
Gross Profit: $418,687,000
Total Revenue: $421,439,000
Earnings Before Interest, Taxes & Depreciation Amortization (EBITDA): $370,734,000
Revenue Per Share: $4
Revenue Per Employee: $2,828,450
Employee: 149
Debt to Equity Ratio (D/E): 7.70
Profit Margin: 0.27%
Enterprise Value (EV): $12,051,577,800
Enterprise Value to Revenue (EV/R): 28.60
Price to Sales (P/S): 4.45
Price to Book (P/B): 1.39
Peg Ratio: 4.66
P/E Ratio: 12.25
P/E High: 11.08
P/E Low: 9.16
Forward P/E Ratio: 10.86
Market Capitalization: $1,874,144,800
Beta: 0.33
Latest Volume: 785,074.00
Avg. Total Volume: 1,416,583
Avg. 10 Volume: 2,695,555.60
Avg. 30 Volume: 1,416,582.87
TTM EPS: 1.36
TTM Dividend Rate: 1.20
Shares Outstanding: 112,090,000
Float: 110,254,862.52
50-Day Moving Avg.: 16.77
200-Day Moving Avg.: 16.18

Dividend History


Below are the most recent cash dividends paid by RWT, and the Ex-Dividend Date of the dividend. The percent difference from one dividend payment to the next has also been calculated for your convenience.


Symbol Ex Date Cash Amount Change in Dividend Declaration Date Record Date Payment Date

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Financial Statements Overview

Balance Sheet (Quarterly)

See Annual Balance Sheet | See Quarterly Balance Sheet

Amounts in USD ($)

Balance Sheet 2019-06-30 2019-03-31 2018-12-31 2018-09-30
Current Cash 0 215,451,000 205,077,000 200,769,000
Receivables 0 0 0 0
Inventory 0 7,275,000 3,943,000 2,915,000
Current Assets 0 0 0 0
Current Assets (Other) 0 0 0 0
Short Term Investments 0 0 0 0
Long-term Investments 1,849,000,000 1,911,986,000 1,841,938,000 1,610,202,000
Property, Plant & Equipment Net 0 5,159,000 5,106,000 5,409,000
Goodwill 0 0 0 0
Intangible Assets 0 137,171,000 87,593,000 63,785,000
Other Assets 500,000,000 9,644,182,000 9,559,759,000 7,056,096,000
Net Tangible Assets 1,564,000,000 1,549,927,000 1,348,794,000 1,361,327,000
Total Assets 13,852,000,000 12,193,359,000 11,937,406,000 9,139,635,000
Accounts Payable 0 0 0 0
Liabilities (Other) 338,000,000 243,395,000 190,891,000 157,605,000
Current Liabilities (Other) 0 0 0 0
Total Current Liabilities 0 0 0 0
Current Long-term Debt 0 0 0 0
Long-term Debt 9,486,000,000 8,210,305,000 7,982,231,000 6,177,955,000
Total Liabilities 12,287,000,000 10,643,432,000 10,588,612,000 7,778,308,000
Minority Interest 0 0 0 0
Common Stock 0 969,000 849,000 829,000
Retained Earnings 0 -500,084,000 -524,774,000 -497,786,000
Treasury Stock 0 0 0 0
Capital Surplus 0 1,996,358,000 1,811,422,000 1,785,957,000
Shareholder Equity 1,564,000,000 1,549,927,000 1,348,794,000 1,361,327,000

Income Statement (Quarterly)

See Annual Income Statement | See Quarterly Income Statement

Amounts in USD ($)

Income Statement 2019-06-30 2019-03-31 2018-12-31 2018-09-30
Total Revenue 173,000,000 171,146,000 121,236,000 118,789,000
Cost of Revenue 0 1,479,000 576,000 664,000
Gross Profit 173,000,000 169,667,000 120,660,000 118,125,000
Research and Development 0 0 0 0
Selling General and Admin 0 0 0 0
Operating Expense 0 5,434,000 6,459,000 4,923,000
Operating Income 34,000,000 154,623,000 82,680,000 110,224,000
Income Expense Net (Other) -1,000,000 -99,276,000 -84,848,000 -64,384,000
EBIT 34,000,000 154,623,000 82,680,000 110,224,000
Interest Income 116,000,000 99,276,000 84,961,000 64,351,000
Pretax Income 33,000,000 55,347,000 -2,168,000 45,840,000
Income Tax 2,000,000 883,000 -1,255,000 4,919,000
Minority Interest 0 0 0 0
Net Income 31,000,000 52,925,000 -901,000 39,690,000
Net Income Basic 31,000,000 52,925,000 -901,000 39,690,000

Cash Flow

See Annual Cash Flow | See Quarterly Cash Flow

Amounts in USD ($)

Cash Flow 2019-06-30 2019-03-31 2018-12-31 2018-09-30
Net Income 31,000,000 52,925,000 -901,000 39,690,000
Depreciation 0 343,000 386,000 340,000
Changes in Receivables 0 0 0 0
Changes in Inventories 0 0 0 0
Cash Change 0 10,374,000 4,308,000 705,000
Cash Flow 0 -206,511,000 -248,716,000 -688,640,000
Capital Expenditures 0 -2,116,000 -25,489,000 0
Investments 0 -58,799,000 -535,341,000 -110,192,000
Investing Activity (Other) 0 -1,179,000 -395,000 -3,557,000
Total Investing Cash Flows 0 140,560,000 -367,319,000 -9,447,000
Dividends Paid 0 -29,774,000 -26,075,000 -25,536,000
Net Borrowings 74,345,000 -74,345,000 625,639,000 607,205,000
Cash Flow Financing 74,345,000 76,325,000 620,343,000 698,792,000
Financing Cash Flows (Other) 0 -2,068,000 -4,511,000 -11,000
Exchange Rate Effect 0 0 0 0

About Redwood Trust, Inc.


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 stockholders. The company primarily invest in residential mortgage loans and in securities collateralized by real estate loans (which are securities issued in securitization transactions and which are also referred to as mortgage-backed securities).

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