Redwood Trust, Inc. (NYSE:RWT) – Research analysts at Piper Sandler decreased their Q3 2021 earnings per share (EPS) estimates for shares of Redwood Trust in a note issued to investors on Sunday, May 2nd. Piper Sandler analyst K. Barker now anticipates that the real estate investment trust will earn $0.22 per share for the quarter, down from their previous forecast of $0.23. Piper Sandler also issued estimates for Redwood Trust’s Q4 2021 earnings at $0.19 EPS and Q4 2022 earnings at $0.26 EPS.
RWT has been the topic of several other reports. Raymond James lifted their target price on shares of Redwood Trust from $13.50 to $14.50 and gave the company a “strong-buy” rating in a research report on Friday. Credit Suisse Group lifted their target price on shares of Redwood Trust from $10.50 to $12.00 and gave the company an “outperform” rating in a research report on Monday, March 22nd. TheStreet raised shares of Redwood Trust from a “d” rating to a “c” rating in a report on Thursday, April 29th. Finally, Zacks Investment Research downgraded shares of Redwood Trust from a “buy” rating to a “hold” rating in a report on Saturday, February 13th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $10.81.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Telemus Capital LLC raised its stake in shares of Redwood Trust by 3.4% during the fourth quarter. Telemus Capital LLC now owns 35,421 shares of the real estate investment trust’s stock worth $311,000 after buying an additional 1,168 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Redwood Trust by 100.0% during the first quarter. International Assets Investment Management LLC now owns 3,000 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 1,500 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of Redwood Trust by 5.7% in the fourth quarter. Citigroup Inc. now owns 28,835 shares of the real estate investment trust’s stock valued at $253,000 after buying an additional 1,561 shares during the period. Aperio Group LLC boosted its holdings in shares of Redwood Trust by 1.0% in the fourth quarter. Aperio Group LLC now owns 169,912 shares of the real estate investment trust’s stock valued at $1,492,000 after buying an additional 1,633 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Redwood Trust by 2.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 68,609 shares of the real estate investment trust’s stock valued at $602,000 after buying an additional 1,840 shares during the period. 76.74% of the stock is owned by institutional investors and hedge funds.
In other Redwood Trust news, Director Georganne Proctor sold 8,645 shares of the business’s stock in a transaction dated Wednesday, March 3rd. The shares were sold at an average price of $10.04, for a total value of $86,795.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.47% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Wednesday, March 24th were paid a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, March 23rd. This is an increase from Redwood Trust’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a dividend yield of 5.69%. Redwood Trust’s payout ratio is currently 40.51%.
Redwood Trust Company Profile
Redwood Trust, Inc, together with its subsidiaries, operates as a specialty finance company in the United States. The company operates through three segments: Residential Lending, Business Purpose Lending, and Third-Party Investments. The Residential Lending segment operates a mortgage loan conduit that acquires residential loans from third-party originators for subsequent sale, securitization, or transfer to its investment portfolio.
Featured Story: Profit margin is different from the revenue
Receive News & Ratings for Redwood Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Redwood Trust and related companies with MarketBeat.com's FREE daily email newsletter.