Redwood Trust, Inc. (NYSE:RWT) Receives Average Rating of “Hold” from Analysts

Shares of Redwood Trust, Inc. (NYSE:RWT) have been assigned a consensus recommendation of “Hold” from the ten brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $6.8929.

RWT has been the topic of a number of recent research reports. JonesTrading reissued a “buy” rating and set a $6.25 price objective on shares of Redwood Trust in a research note on Thursday, April 30th. Citigroup reissued a “market perform” rating on shares of Redwood Trust in a research note on Wednesday, February 18th. Zacks Research lowered Redwood Trust from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Wall Street Zen upgraded Redwood Trust from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Keefe, Bruyette & Woods lifted their target price on Redwood Trust from $5.75 to $7.00 and gave the company a “market perform” rating in a research report on Wednesday, February 18th.

Institutional Investors Weigh In On Redwood Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Clearstead Advisors LLC raised its position in Redwood Trust by 192.5% in the fourth quarter. Clearstead Advisors LLC now owns 5,428 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 3,572 shares during the period. Russell Investments Group Ltd. raised its position in 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 valued at $47,000 after purchasing an additional 6,082 shares during the period. Westbourne Investments Inc. purchased a new stake in Redwood Trust in the fourth quarter valued at $55,000. Bank of Marin purchased a new stake in Redwood Trust in the fourth quarter valued at $58,000. Finally, Abel Hall LLC purchased a new stake in Redwood Trust in the fourth quarter valued at $58,000. Hedge funds and other institutional investors own 74.34% of the company’s stock.

Redwood Trust Stock Performance

NYSE RWT opened at $5.30 on Friday. The stock’s fifty day moving average is $5.60 and its two-hundred day moving average is $5.65. The firm has a market capitalization of $663.64 million, a P/E ratio of -6.79 and a beta of 1.40. The company has a debt-to-equity ratio of 28.42, a quick ratio of 59.63 and a current ratio of 59.63. Redwood Trust has a fifty-two week low of $5.00 and a fifty-two week high of $6.97.

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 given a $0.18 dividend. The ex-dividend date was Tuesday, March 24th. This represents a $0.72 dividend on an annualized basis and a yield of 13.6%. Redwood Trust’s 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.