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

Shares of Redwood Trust, Inc. (NYSE:RWT) have been assigned a consensus rating of “Hold” from the eleven analysts that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $5.9375.

A number of equities research analysts recently weighed in on the company. Citizens Jmp dropped their price target on Redwood Trust from $7.00 to $6.00 and set a “market outperform” rating for the company in a report on Wednesday, July 8th. UBS Group reduced their price objective on Redwood Trust from $7.00 to $6.50 and set a “buy” rating on the stock in a research note on Friday, August 21st. Wall Street Zen upgraded Redwood Trust from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research lowered Redwood Trust from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 21st. Finally, BTIG Research reaffirmed a “buy” rating and issued a $6.00 price target on shares of Redwood Trust in a report on Tuesday, July 28th.

Hedge Funds Weigh In On Redwood Trust

A number of large investors have recently modified their holdings of RWT. UBS Group AG raised its position in Redwood Trust by 521.1% in the 4th quarter. UBS Group AG now owns 3,875,226 shares of the real estate investment trust’s stock worth $21,430,000 after purchasing an additional 3,251,302 shares during the last quarter. PVG Asset Management Corp acquired a new position in Redwood Trust during the 2nd quarter worth $592,000. Bank of America Corp DE boosted its position in Redwood Trust by 66.4% in the 1st quarter. Bank of America Corp DE now owns 395,286 shares of the real estate investment trust’s stock valued at $2,218,000 after buying an additional 157,795 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in shares of Redwood Trust in the 1st quarter valued at $876,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Redwood Trust by 35.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 57,143 shares of the real estate investment trust’s stock valued at $316,000 after buying an additional 14,872 shares during the period. 74.34% of the stock is currently owned by institutional investors and hedge funds.

Redwood Trust Price Performance

NYSE:RWT opened at $4.51 on Monday. The firm has a market cap of $566.51 million, a PE ratio of -112.72 and a beta of 1.37. Redwood Trust has a 12 month low of $4.19 and a 12 month high of $6.97. The company has a quick ratio of 67.49, a current ratio of 67.49 and a debt-to-equity ratio of 31.69. The company’s 50-day moving average price is $4.76 and its two-hundred day moving average price is $5.30.

Redwood Trust (NYSE:RWT) last posted its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.02. Redwood Trust had a net margin of 0.42% and a return on equity of 16.02%. The company had revenue of $56.01 million during the quarter, compared to analyst estimates of $89.45 million. On average, equities analysts anticipate that Redwood Trust will post 1.03 EPS for the current fiscal year.

Redwood Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were paid a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 16.0%. Redwood Trust’s payout ratio is currently -1,800.00%.

About Redwood Trust

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.