WASHINGTON (dpa-AFX) - Redwood Trust Inc. (RWT) reported first-quarter net income attributable to the company of $61 million or $0.69 per share, compared to $30 million or $0.37 per share in the year-ago quarter.
On average, seven analysts polled by Thomson Reuters expected the company to earn $0.46 per share. Analysts' estimates typically exclude special items.
Further, Redwood also reported estimated REIT taxable income of $16 million or $0.20 per share for the quarter, compared to a taxable income of $10 million or $0.13 per share in the comparable quarter last year.
Meanwhile, net interest income for the quarter rose to $35 million from $28 million in the prior year quarter.
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