Redwood Trust (NYSE:RWT) had its price target upped by Nomura from $17.50 to $18.00 in a research note released on Tuesday morning, BenzingaRatingsTable reports. Nomura currently has a buy rating on the real estate investment trust’s stock.

Separately, Zacks Investment Research downgraded Redwood Trust from a buy rating to a hold rating in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of Buy and an average price target of $18.10.

RWT opened at $17.04 on Tuesday. Redwood Trust has a fifty-two week low of $14.29 and a fifty-two week high of $17.21. The business’s 50-day moving average price is $16.63. The company has a debt-to-equity ratio of 5.30, a current ratio of 4.25 and a quick ratio of 4.25. The stock has a market cap of $1.65 billion, a P/E ratio of 9.57 and a beta of 0.66.

Redwood Trust (NYSE:RWT) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.01. Redwood Trust had a return on equity of 10.99% and a net margin of 21.26%. The business had revenue of $32.00 million for the quarter, compared to the consensus estimate of $42.20 million. During the same period last year, the business earned $0.41 EPS. The firm’s revenue was down 8.6% compared to the same quarter last year. Equities analysts forecast that Redwood Trust will post 1.49 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.04%. The ex-dividend date is Friday, September 13th. Redwood Trust’s payout ratio is 67.42%.

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Redwood Trust by 12.2% in the 1st quarter. BlackRock Inc. now owns 16,384,220 shares of the real estate investment trust’s stock valued at $264,604,000 after acquiring an additional 1,778,088 shares in the last quarter. Northern Trust Corp grew its holdings in Redwood Trust by 3.0% in the 2nd quarter. Northern Trust Corp now owns 1,370,400 shares of the real estate investment trust’s stock valued at $22,653,000 after buying an additional 40,218 shares during the last quarter. Hilton Capital Management LLC grew its holdings in Redwood Trust by 4.8% in the 1st quarter. Hilton Capital Management LLC now owns 1,298,562 shares of the real estate investment trust’s stock valued at $20,972,000 after buying an additional 59,976 shares during the last quarter. Norges Bank acquired a new stake in Redwood Trust in the 4th quarter valued at approximately $18,679,000. Finally, Boston Partners acquired a new stake in Redwood Trust in the 1st quarter valued at approximately $19,296,000. 95.22% of the stock is currently owned by institutional investors and hedge funds.

Redwood Trust Company Profile

Redwood Trust, Inc, together with its subsidiaries, operates as a specialty finance company in the United States. The company operates through two segments, Investment Portfolio and Residential Mortgage Banking. The Investment Portfolio segment offers a portfolio of investments in residential mortgage-backed securities retained from Sequoia securitizations, as well as issued by third parties and other credit risk-related investments; and invests directly in residential mortgage loans.

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