Redwood Trust, Inc. (NYSE:RWT) Given Average Rating of “Hold” by Brokerages

Redwood Trust, Inc. (NYSE:RWT) has been assigned a consensus rating of “Hold” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $6.75.

Several analysts recently weighed in on the stock. UBS Group raised their target price on shares of Redwood Trust from $6.50 to $7.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. JMP Securities reduced their price objective on shares of Redwood Trust from $7.50 to $7.00 and set a “market outperform” rating on the stock in a report on Thursday, July 31st. Keefe, Bruyette & Woods lowered their target price on shares of Redwood Trust from $6.50 to $5.75 and set a “market perform” rating for the company in a research note on Tuesday, August 5th. Wall Street Zen lowered Redwood Trust from a “hold” rating to a “strong sell” rating in a report on Saturday, August 2nd. Finally, Jones Trading dropped their price objective on Redwood Trust from $7.00 to $6.25 and set a “buy” rating on the stock in a report on Thursday, October 30th.

Institutional Investors Weigh In On Redwood Trust

Several hedge funds and other institutional investors have recently bought and sold shares of RWT. Cambridge Investment Research Advisors Inc. grew its position in shares of Redwood Trust by 3.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 59,300 shares of the real estate investment trust’s stock valued at $360,000 after purchasing an additional 1,767 shares during the last quarter. Concurrent Investment Advisors LLC lifted its stake in Redwood Trust by 4.7% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 41,474 shares of the real estate investment trust’s stock valued at $245,000 after buying an additional 1,866 shares in the last quarter. Intech Investment Management LLC lifted its stake in Redwood Trust by 1.4% in the 2nd quarter. Intech Investment Management LLC now owns 151,270 shares of the real estate investment trust’s stock valued at $894,000 after buying an additional 2,033 shares in the last quarter. New York State Teachers Retirement System grew its holdings in Redwood Trust by 1.5% during the 1st quarter. New York State Teachers Retirement System now owns 152,430 shares of the real estate investment trust’s stock valued at $925,000 after buying an additional 2,326 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Redwood Trust by 7.8% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 34,177 shares of the real estate investment trust’s stock worth $202,000 after buying an additional 2,464 shares in the last quarter. 74.34% of the stock is currently owned by institutional investors and hedge funds.

Redwood Trust Trading Up 1.3%

RWT opened at $5.19 on Monday. Redwood Trust has a 12 month low of $4.68 and a 12 month high of $7.44. The stock has a market capitalization of $670.02 million, a price-to-earnings ratio of -6.40 and a beta of 1.48. The company has a debt-to-equity ratio of 20.00, a current ratio of 40.39 and a quick ratio of 40.39. The business has a fifty day moving average price of $5.77 and a 200 day moving average price of $5.82.

Redwood Trust (NYSE:RWT) last posted its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.04. The company had revenue of $49.80 million for the quarter, compared to analyst estimates of $31.04 million. Redwood Trust had a positive return on equity of 8.89% and a negative net margin of 6.93%. Sell-side analysts expect that Redwood Trust will post 0.78 earnings per share for the current fiscal year.

Redwood Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 23rd were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, September 23rd. This represents a $0.72 dividend on an annualized basis and a yield of 13.9%. Redwood Trust’s dividend payout ratio (DPR) is presently -88.89%.

About Redwood Trust

Redwood Trust, Inc, together with its subsidiaries, operates as a specialty finance company in the United States. The company operates through three segments: Residential Consumer Mortgage Banking, Residential Investor Mortgage Banking, and Investment Portfolio. The Residential Consumer Mortgage Banking segment operates a mortgage loan conduit that acquires residential loans from third-party originators for subsequent sale, securitization, or transfer to its investment portfolio.