Redwood Trust, Inc. (NYSE:RWT) Receives $6.11 Average Price Target from Brokerages

Redwood Trust, Inc. (NYSE:RWT) has been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $6.1071.

A number of equities analysts recently weighed in on RWT shares. Piper Sandler decreased their price target on Redwood Trust from $6.50 to $5.50 and set a “neutral” rating for the company in a research report on Thursday, July 2nd. Wall Street Zen upgraded Redwood Trust from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Citizens Jmp decreased their target price on shares of Redwood Trust from $7.00 to $6.00 and set a “market outperform” rating for the company in a research report on Wednesday, July 8th. Keefe, Bruyette & Woods raised shares of Redwood Trust from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $7.00 to $6.00 in a research note on Thursday, July 9th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Redwood Trust from $6.50 to $6.00 and set an “overweight” rating on the stock in a research report on Friday.

Redwood Trust Stock Performance

RWT opened at $5.13 on Friday. The firm has a market cap of $643.00 million, a PE ratio of -6.58 and a beta of 1.37. The company has a quick ratio of 59.63, a current ratio of 59.63 and a debt-to-equity ratio of 28.42. The business has a fifty day simple moving average of $5.10 and a 200-day simple moving average of $5.55. Redwood Trust has a fifty-two week low of $4.19 and a fifty-two week high of $6.97.

Redwood Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were given 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 14.0%. Redwood Trust’s dividend payout ratio (DPR) is currently -92.31%.

Institutional Trading of Redwood Trust

Several large investors have recently modified their holdings of the company. Clearstead Advisors LLC lifted 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. increased its stake in shares of Redwood Trust by 331.8% in the second quarter. Russell Investments Group Ltd. now owns 7,915 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 6,082 shares during the period. Westbourne Investments Inc. acquired a new position in shares of Redwood Trust during the 4th quarter worth about $55,000. Bank of Marin bought a new stake in Redwood Trust during the 4th quarter valued at approximately $58,000. Finally, Abel Hall LLC bought a new stake in Redwood Trust during the 4th quarter valued at approximately $58,000. 74.34% of the stock is owned by institutional investors.

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.