Redwood Trust, Inc. (NYSE:RWT) Receives $7.84 Average PT from Brokerages

Shares of Redwood Trust, Inc. (NYSE:RWT) have received an average recommendation of “Moderate Buy” from the eight brokerages that are covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $7.84.

A number of research analysts have recently weighed in on RWT shares. JMP Securities dropped their target price on Redwood Trust from $9.00 to $8.00 and set a “market outperform” rating on the stock in a report on Thursday, January 23rd. StockNews.com raised Redwood Trust from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. lowered their target price on Redwood Trust from $7.00 to $6.50 and set a “neutral” rating on the stock in a research note on Tuesday, January 21st.

Redwood Trust Stock Performance

Shares of RWT stock opened at $6.60 on Friday. Redwood Trust has a 12 month low of $5.45 and a 12 month high of $8.15. The firm has a market capitalization of $874.63 million, a PE ratio of 12.00 and a beta of 1.57. The firm has a fifty day simple moving average of $6.64 and a two-hundred day simple moving average of $7.13. The company has a current ratio of 44.36, a quick ratio of 44.36 and a debt-to-equity ratio of 14.55.

Redwood Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 23rd were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, December 23rd. This is a positive change from Redwood Trust’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 10.91%. Redwood Trust’s dividend payout ratio is 130.91%.

Institutional Trading of Redwood Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Brown Brothers Harriman & Co. bought a new position in shares of Redwood Trust during the 3rd quarter valued at $39,000. GAMMA Investing LLC increased its stake in shares of Redwood Trust by 65.4% during the third quarter. GAMMA Investing LLC now owns 5,169 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 2,043 shares during the period. Sovran Advisors LLC bought a new position in shares of Redwood Trust during the fourth quarter valued at approximately $63,000. KBC Group NV increased its position in Redwood Trust by 86.7% during the 4th quarter. KBC Group NV now owns 10,313 shares of the real estate investment trust’s stock valued at $67,000 after purchasing an additional 4,788 shares during the period. Finally, Algert Global LLC purchased a new position in shares of Redwood Trust during the second quarter valued at about $86,000. Hedge funds and other institutional investors own 74.34% of the company’s stock.

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 three segments: Residential Consumer Mortgage Banking, Residential Investor Mortgage Banking, and Investment Portfolio. The Residential Consumer Mortgage Banking segment operates a mortgage loan conduit that acquires residential loans from third-party originators for subsequent sale, securitization, or transfer to its investment portfolio.