Redwood Trust, Inc (RWT) has reported a 178.95 percent jump in profit for the quarter ended Sep. 30, 2016. The company has earned $53 million, or $0.58 a share in the quarter, compared with $19 million, or $0.22 a share for the same period last year.
For financial year 2016, the company forecasts diluted earnings per share to be in the range of $1.20 to $1.50.
Investments stood at $5,278 million as on Sep. 30, 2016, down 5.58 percent or $312 million from year-ago.
Total assets declined 3.14 percent or $384 million to $5,873 million on Sep. 30, 2016. On the other hand, total liabilities were at $4,742 million as on Sep. 30, 2016, down 6.10 percent or $308 million from year-ago.
Return on assets moved up 76 basis points to 1.89 percent in the quarter. At the same time, return on equity moved up 312 basis points to 4.69 percent in the quarter.
Debt comes down
Total debt was at $4,557 million as on Sep. 30, 2016, down 6.27 percent or $305 million from year-ago. Shareholders equity stood at $1,130 million as on Sep. 30, 2016, down 6.38 percent or $77 million from year-ago. As a result, debt to equity ratio was almost stable at 4.03 percent in the quarter, when compared with the last year period. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
