By Chris Wack
Redwood Trust shares were 21% higher, at $6.68, after the company swung to a fourth-quarter profit.
The stock hit its 52-week high of $6.97 earlier in the session, and is 4% higher in the past 12 months.
The real-estate investment trust said it had quarterly earnings of $18.3 million, or 13 cents a share, compared with a loss of $7.7 million, or 8 cents a share, in the same quarter last year. Analysts polled by FactSet were looking for earnings of $13.2 million.
Net interest income for the quarter was $25.9 million, compared with $15 million last year.
The company said its fourth-quarter results reflected momentum across its mortgage banking platforms, with higher production revenue translating directly into earnings growth. Mortgage banking production reached a $7.3 billion.
Book value per common share was $7.36 at Dec. 31, compared with $7.35 a share at Sept. 30.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
February 12, 2026 12:59 ET (17:59 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.