Redwood Trust, Inc. (NYSE:RWT) Plans $0.18 Quarterly Dividend

Redwood Trust, Inc. (NYSE:RWT) announced a quarterly dividend on Thursday, March 12th. Stockholders of record on Tuesday, March 24th will be paid a dividend of 0.18 per share by the real estate investment trust on Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 12.2%. The ex-dividend date is Tuesday, March 24th.

Redwood Trust has decreased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Redwood Trust has a payout ratio of 86.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Redwood Trust to earn $0.90 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 80.0%.

Redwood Trust Stock Performance

Shares of NYSE RWT opened at $5.90 on Friday. The firm has a market cap of $737.94 million, a P/E ratio of -9.68 and a beta of 1.55. Redwood Trust has a 1 year low of $4.68 and a 1 year high of $6.97. The stock has a fifty day moving average price of $5.87 and a two-hundred day moving average price of $5.73. The company has a debt-to-equity ratio of 24.34, a quick ratio of 55.15 and a current ratio of 55.15.

Redwood Trust (NYSE:RWT) last announced its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.02). Redwood Trust had a positive return on equity of 12.00% and a negative net margin of 5.93%.The firm had revenue of $140.33 million during the quarter, compared to analysts’ expectations of $24.88 million. Research analysts forecast that Redwood Trust will post 0.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RWT. Citigroup reaffirmed a “market perform” rating on shares of Redwood Trust in a research note on Wednesday, February 18th. JPMorgan Chase & Co. upgraded shares of Redwood Trust from a “neutral” rating to an “overweight” rating and set a $6.00 price objective for the company in a report on Friday, January 23rd. JonesTrading reissued a “buy” rating and issued a $6.25 price target on shares of Redwood Trust in a report on Tuesday, March 3rd. Zacks Research upgraded shares of Redwood Trust from a “hold” rating to a “strong-buy” rating in a report on Monday, January 26th. Finally, Wall Street Zen upgraded Redwood Trust from a “sell” rating to a “hold” rating in a report on Sunday, February 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $6.96.

Redwood Trust Company Profile

Redwood Trust, Inc (NYSE:RWT) is a publicly traded real estate investment trust specializing in the U.S. residential mortgage market. Headquartered in Mill Valley, California, the company focuses on investing in a diversified portfolio of residential mortgage assets, including whole loans, agency and non-agency mortgage-backed securities, and structured credit products.

The company’s core activities encompass the acquisition, financing, and management of prime residential mortgage whole loans and mortgage-backed securities.