Brokerages Set Redwood Trust, Inc. (NYSE:RWT) Price Target at $6.89

Redwood Trust, Inc. (NYSE:RWT) has received a consensus rating of “Hold” from the ten ratings firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $6.5357.

Several equities research analysts have recently commented on the stock. BTIG Research lowered their price objective on shares of Redwood Trust from $8.50 to $6.00 and set a “buy” rating for the company in a research note on Wednesday. Wall Street Zen raised shares of Redwood Trust from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Piper Sandler lifted their price objective on shares of Redwood Trust from $6.00 to $6.50 and gave the company a “neutral” rating in a report on Thursday, April 30th. Zacks Research cut shares of Redwood Trust from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Finally, JonesTrading reaffirmed a “buy” rating and issued a $6.25 price objective on shares of Redwood Trust in a report on Thursday, April 30th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of RWT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Redwood Trust by 26.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 492,661 shares of the real estate investment trust’s stock worth $2,990,000 after purchasing an additional 103,893 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Redwood Trust during the 1st quarter worth about $2,018,000. Strs Ohio acquired a new position in shares of Redwood Trust during the 1st quarter worth about $149,000. XTX Topco Ltd raised its position in shares of Redwood Trust by 35.4% during the 2nd quarter. XTX Topco Ltd now owns 14,513 shares of the real estate investment trust’s stock worth $86,000 after purchasing an additional 3,795 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Redwood Trust by 331.8% during the 2nd 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 last quarter. Institutional investors and hedge funds own 74.34% of the company’s stock.

Redwood Trust Trading Down 0.1%

NYSE:RWT opened at $5.16 on Tuesday. Redwood Trust has a 12 month low of $5.00 and a 12 month high of $6.97. The firm has a fifty day simple moving average of $5.47 and a 200-day simple moving average of $5.65. The company has a current ratio of 59.63, a quick ratio of 59.63 and a debt-to-equity ratio of 28.42. The company has a market capitalization of $645.51 million, a P/E ratio of -6.61 and a beta of 1.37.

Redwood Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd will be issued a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $0.72 dividend on an annualized basis and a yield of 14.0%. Redwood Trust’s payout ratio is presently -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.