Redwood Trust

RWT

Market cap $667M

Redwood Trust recently issued RWTS, a 9.75% senior note maturing in 2031, now trading slightly below par. RWT's recourse leverage has doubled year-over-year to above 5x, raising concerns about capital structure and debt coverage. RWTS offers one of the highest yields among mREIT baby bonds, but increasing leverage and sector risks warrant caution.

Redwood Trust reported a Q1 2026 GAAP loss due to fair value declines in retained securitization tranches amid rising rates. RWT issued $125M in 9.75% senior unsecured notes due 2031, diversifying funding and capitalizing on open capital markets despite rate pressures. RWT.PR.A preferred shares yield 10% but offer limited upside and high duration risk, especially as long-term rates rise.

MILL VALLEY, Calif.--(BUSINESS WIRE)--Redwood Trust, Inc. (NYSE: RWT; “Redwood” or the “Company”) today announced the pricing of an underwritten public offering of $125,000,000 aggregate principal amount of its 9.75% senior notes due 2031 (the “Notes”). In connection with the offering, Redwood granted the underwriters a 30-day option to purchase up to an additional $18,750,000 aggregate principal amount of Notes, to cover over-allotments. The offering is expected to close on May 27, 2026, subje.

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The headline numbers for Redwood Trust (RWT) give insight into how the company performed in the quarter ended March 2026, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Redwood Trust (RWT) came out with quarterly earnings of $0.28 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $0.14 per share a year ago.

MILL VALLEY, Calif.--(BUSINESS WIRE)--Redwood Trust, Inc. (NYSE:RWT; "Redwood", the "Company"), a leader in expanding access to housing for homebuyers and renters, today reported its financial results for the quarter ended March 31, 2026. First Quarter 2026 Highlights On a consolidated basis, GAAP net loss was $(0.07) per basic and diluted common share. Non- GAAP Earnings Available for Distribution ("EAD") was $0.21 per share(1), an increase from the prior quarter and once again exceeding the C.

MINNEAPOLIS and MILL VALLEY, Calif., April 29, 2026 /PRNewswire/ -- Castlelake, L.P.