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

Redwood Trust, Inc. (NYSE:RWT) has earned an average recommendation of “Hold” from the ten research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $6.8929.

RWT has been the topic of a number of recent research reports. Keefe, Bruyette & Woods increased their price objective on Redwood Trust from $5.75 to $7.00 and gave the stock a “market perform” rating in a report on Wednesday, February 18th. Wall Street Zen cut Redwood Trust from a “hold” rating to a “sell” rating in a report on Monday, April 6th. Piper Sandler increased their price objective on Redwood Trust from $6.00 to $6.50 and gave the stock a “neutral” rating in a report on Thursday. Zacks Research cut Redwood Trust from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Finally, JPMorgan Chase & Co. raised Redwood Trust from a “neutral” rating to an “overweight” rating and set a $6.00 price objective on the stock in a report on Friday, January 23rd.

Hedge Funds Weigh In On Redwood Trust

Large investors have recently modified their holdings of the company. Clearstead Advisors LLC grew its position in Redwood Trust by 192.5% during the 4th quarter. Clearstead Advisors LLC now owns 5,428 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 3,572 shares during the last quarter. Russell Investments Group Ltd. grew its position in Redwood Trust by 331.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,915 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 6,082 shares during the last quarter. CWM LLC grew its position in Redwood Trust by 54.2% during the 3rd quarter. CWM LLC now owns 9,514 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 3,346 shares during the last quarter. Westbourne Investments Inc. bought a new position in Redwood Trust during the 4th quarter worth approximately $55,000. Finally, Bank of Marin bought a new position in Redwood Trust during the 4th quarter worth approximately $58,000. 74.34% of the stock is owned by hedge funds and other institutional investors.

Redwood Trust Stock Down 0.1%

Shares of NYSE RWT opened at $5.73 on Monday. Redwood Trust has a one year low of $5.00 and a one year high of $6.97. The company has a debt-to-equity ratio of 26.42, a current ratio of 55.15 and a quick ratio of 55.15. The business’s fifty day moving average price is $5.81 and its 200-day moving average price is $5.67. The stock has a market capitalization of $715.63 million, a PE ratio of -7.34 and a beta of 1.40.

Redwood Trust (NYSE:RWT) last issued its quarterly earnings results on Wednesday, February 11th. The real estate investment trust reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.02). Redwood Trust had a negative net margin of 9.70% and a positive return on equity of 14.27%. The firm had revenue of $140.33 million for the quarter, compared to analysts’ expectations of $24.88 million. On average, equities research analysts anticipate that Redwood Trust will post 1.28 EPS for the current year.

Redwood Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 12.6%. The ex-dividend date was Tuesday, March 24th. Redwood Trust’s dividend payout ratio is currently -92.31%.

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.