Redwood Trust Reports Q3 Preliminary Results; Stock Up 5%

(RTTNews) - Shares of Redwood Trust, Inc. (RWT) gained ove 5% in extended hours on Thursday after the company announced preliminary results for the third quarter.

The company estimates that at September 30, 2022, GAAP book value per share was in a range of $10.15 to $10.25, a 4.9% to 5.8% decrease from $10.78 at June 30, 2022

The company said it maintained robust balance sheet with unrestricted cash of $297 million and unencumbered assets of approximately $500 million at September 30, 2022

RWT closed Thursday's trading at $6.07, up $0.13 or 2.19%, on the NYSE. The stock further gained $0.33 or 5.44%, in the after-hours trading.