Redwood Trust, Inc. (NYSE:RWT)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $17.25 and last traded at $17.24, with a volume of 1092549 shares trading hands. The stock had previously closed at $16.99.

A number of analysts have weighed in on RWT shares. Nomura upped their price target on Redwood Trust from $17.50 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Zacks Investment Research upgraded Redwood Trust from a “hold” rating to a “strong-buy” rating and set a $20.00 price target on the stock in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Redwood Trust has a consensus rating of “Buy” and a consensus target price of $18.30.

The firm has a fifty day moving average price of $16.85 and a 200 day moving average price of $16.31. The company has a quick ratio of 4.41, a current ratio of 4.41 and a debt-to-equity ratio of 6.07. The company has a market cap of $1.89 billion, a P/E ratio of 9.47 and a beta of 0.67.

Redwood Trust (NYSE:RWT) last announced its earnings results on Thursday, August 1st. The real estate investment trust reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The company had revenue of $32.00 million for the quarter, compared to analysts’ expectations of $42.20 million. Redwood Trust had a return on equity of 10.71% and a net margin of 21.26%. The business’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 earnings per share. On average, sell-side analysts anticipate that Redwood Trust, Inc. will post 1.51 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 7.13%. The ex-dividend date is Friday, September 13th. Redwood Trust’s payout ratio is presently 67.42%.

Several hedge funds have recently made changes to their positions in RWT. BlackRock Inc. grew its holdings in shares of Redwood Trust by 12.2% during the first quarter. BlackRock Inc. now owns 16,384,220 shares of the real estate investment trust’s stock worth $264,604,000 after purchasing an additional 1,778,088 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Redwood Trust during the second quarter worth $7,006,000. Vanguard Group Inc. grew its holdings in shares of Redwood Trust by 3.0% during the second quarter. Vanguard Group Inc. now owns 9,787,841 shares of the real estate investment trust’s stock worth $161,793,000 after purchasing an additional 282,176 shares during the last quarter. Kennedy Capital Management Inc. bought a new position in Redwood Trust in the first quarter valued at about $4,441,000. Finally, Marshall Wace LLP bought a new position in Redwood Trust in the first quarter valued at about $4,323,000. Institutional investors own 93.43% of the company’s stock.

Redwood Trust Company Profile (NYSE:RWT)

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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