$0.34 Earnings Per Share Expected for Redwood Trust, Inc. (RWT) This Quarter
Equities research analysts expect Redwood Trust, Inc. (NYSE:RWT) to announce earnings of $0.34 per share for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Redwood Trust’s earnings. Redwood Trust reported earnings of $0.33 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 3%. The business is expected to announce its next quarterly earnings report on Thursday, February 22nd.
According to Zacks, analysts expect that Redwood Trust will report full-year earnings of $1.39 per share for the current year. For the next financial year, analysts forecast that the firm will post earnings of $1.44 per share. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that cover Redwood Trust.
Redwood Trust (NYSE:RWT) last released its quarterly earnings results on Monday, November 6th. The real estate investment trust reported $0.35 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.04). Redwood Trust had a return on equity of 9.87% and a net margin of 41.62%. The firm had revenue of $35.00 million for the quarter, compared to analysts’ expectations of $36.86 million. During the same quarter in the prior year, the business earned $0.58 earnings per share. The company’s quarterly revenue was down 10.3% on a year-over-year basis.
In other news, General Counsel Andrew P. Stone sold 5,000 shares of the stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $14.87, for a total value of $74,350.00. Following the sale, the general counsel now directly owns 53,015 shares in the company, valued at $788,333.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.33% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Redwood Trust by 2.2% in the second quarter. Vanguard Group Inc. now owns 6,303,530 shares of the real estate investment trust’s stock valued at $107,412,000 after acquiring an additional 137,701 shares in the last quarter. State Street Corp raised its stake in Redwood Trust by 6.2% in the second quarter. State Street Corp now owns 1,611,297 shares of the real estate investment trust’s stock valued at $27,454,000 after buying an additional 93,613 shares in the last quarter. Seizert Capital Partners LLC raised its stake in Redwood Trust by 3.1% in the third quarter. Seizert Capital Partners LLC now owns 1,496,235 shares of the real estate investment trust’s stock valued at $24,374,000 after buying an additional 45,651 shares in the last quarter. Renaissance Technologies LLC raised its stake in Redwood Trust by 1.8% in the second quarter. Renaissance Technologies LLC now owns 1,422,000 shares of the real estate investment trust’s stock valued at $24,231,000 after buying an additional 25,000 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Redwood Trust by 2.5% in the second quarter. Northern Trust Corp now owns 930,774 shares of the real estate investment trust’s stock valued at $15,860,000 after buying an additional 22,723 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.
Redwood Trust (NYSE RWT) traded up $0.08 on Friday, hitting $15.16. The stock had a trading volume of 589,042 shares, compared to its average volume of 384,035. Redwood Trust has a 1-year low of $14.29 and a 1-year high of $17.45. The stock has a market capitalization of $1,169.06, a price-to-earnings ratio of 9.59 and a beta of 0.91. The company has a debt-to-equity ratio of 2.91, a quick ratio of 3.36 and a current ratio of 3.36.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Friday, December 15th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 7.39%. The ex-dividend date of this dividend was Thursday, December 14th. Redwood Trust’s payout ratio is currently 70.89%.
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About Redwood Trust
Redwood Trust, Inc, through its subsidiaries, focuses on investing in mortgage and other real estate related assets. The Company is engaged in mortgage banking activities. The Company operates through three segments: Residential Investments, Residential Mortgage Banking and Commercial. The Residential Investments segment includes a portfolio of investments in residential mortgage-backed securities (RMBS) retained from its Sequoia securitizations.
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