- Redwood Trust ( NYSE: RWT ) stock gained 5.4% after hours on Thursday after the firm issued preliminary results for Q3 .
- RWT estimated that GAAP book value per share was $10.15-$10.25 at Sept. 30, down 4.9-5.8% from $10.78 at Jun. 30.
- RWT projected unrestricted cash of $297M and unencumbered assets of ~$500M at Sept. 30.
- The firm added $900M of new financing capacity across multiple borrowing facilities in Q3 and has over $3B of unused financing capacity across residential and business purpose mortgage banking segments.
- RWT repurchased 3.4M shares for $24M, resulting in $0.12 per share of book value accretion in Q3.
- The firm said total margin call activity in Q3 resulted in a net return of cash to RWT from financing and hedging counterparties.
- RWT will issue its Q3 results on Oct. 27 after market close.
- Shares of RWT declined ~55% YTD.
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Redwood Trust stock gains 5% after hours on preliminary Q3 results