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Mill Valley, California-based\u00a0Redwood Trust Inc.<\/strong>\u00a0(NYSE: RWT<\/a>)\u00a0on Wednesday reported fourth-quarter 2021 net income of $44 million, or $0.34 per diluted share, matching\u00a0the Zacks consensus E<\/a>PS<\/a>\u00a0estimate for the quarter.<\/p>\n The earnings were off the company\u2019s fourth-quarter 2020 mark of $54.3 million and down from third-quarter 2021 earnings of $88.3 million. Still, the Mill Valley-California real estate investment trust reported net income for the full year of $319.6 million, a major boost compared to a net loss of $582 million recorded in the pandemic-onset year of 2020. The REIT recorded a profit of $169 million i<\/a>n 2019<\/a>.<\/p>\n “The fourth quarter of 2021 rounded out a transformative year for our Company where we grew our operating businesses, built out our product and technology offerings, and expanded our strategic investments, while delivering 25% full-year return on equity,” said Chris Abate, CEO of Redwood. \u201c\u2026 As we look ahead in 2022, we expect the diversity and composition of our revenue streams to provide us with a notable advantage in a rising rate environment.\u201d<\/p>\n Among the results highlighted in the Redwood\u2019s earnings release for its fourth quarter ended December 31, 2021, are the following:<\/p>\n In a l<\/a>etter to sh<\/a>areholders<\/a>, Redwood indicated it had distributed four regular quarterly dividends in 2021 \u2014Q1, $0.16; Q2, $0.18; Q3, $0.21 and Q4, $0.23 \u2014 \u201cfor a total of $0.78 per share of common stock dividend distributions.\u201d<\/p>\n \u201cOur focus remains on delivering for our shareholders and executing the long-term strategic growth plans we outlined at our September 2021 Investor Day,\u201d Abated said. <\/p>\n Among those growth plans is a focus on technology investments.<\/p>\n \u201cSince inception, [Redwood has] completed 15 technology venture investments, including five in the fourth quarter of 2021, that reflect the diversity of our operations and include firms that align with opportunities across our businesses,\u201d the company\u2019s Q4 earnings release n<\/a>otes.<\/a><\/p>\n The post Redwood Trust puts red ink in the rearview mirror \u00a0<\/a> appeared first on HousingWire<\/a>.<\/p>\n\n
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