Redwood Trust, Inc. (NYSE:RWT) Given Average Rating of “Hold” by Brokerages

Redwood Trust, Inc. (NYSE:RWT) has been given an average recommendation of “Hold” by the eleven analysts that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $6.00.

Several equities analysts have recently issued reports on RWT shares. Wells Fargo & Company decreased their target price on Redwood Trust from $7.00 to $6.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 29th. Keefe, Bruyette & Woods cut their price target on shares of Redwood Trust from $6.00 to $5.50 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Wall Street Zen raised shares of Redwood Trust from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. BTIG Research restated a “buy” rating and set a $6.00 price objective on shares of Redwood Trust in a report on Tuesday, July 28th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Redwood Trust from $6.50 to $6.00 and set an “overweight” rating for the company in a research note on Friday, July 17th.

Redwood Trust Stock Up 0.9%

NYSE:RWT opened at $4.72 on Thursday. Redwood Trust has a 12-month low of $4.19 and a 12-month high of $6.97. The company has a quick ratio of 67.49, a current ratio of 67.49 and a debt-to-equity ratio of 31.69. The firm has a market capitalization of $592.88 million, a P/E ratio of -117.97 and a beta of 1.38. The stock’s fifty day simple moving average is $4.91 and its 200-day simple moving average is $5.43.

Redwood Trust (NYSE:RWT) last announced its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. Redwood Trust had a return on equity of 16.02% and a net margin of 0.42%.The business had revenue of $56.01 million during the quarter, compared to analysts’ expectations of $89.45 million. Equities research analysts expect that Redwood Trust will post 1.03 earnings per share for the current year.

Redwood Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were issued a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.72 annualized dividend and a dividend yield of 15.3%. Redwood Trust’s payout ratio is -1,800.00%.

Institutional Trading of Redwood Trust

Several hedge funds have recently added to or reduced their stakes in RWT. Vident Advisory LLC raised its position in shares of Redwood Trust by 4.7% during the fourth quarter. Vident Advisory LLC now owns 39,606 shares of the real estate investment trust’s stock worth $219,000 after purchasing an additional 1,773 shares during the period. Janney Montgomery Scott LLC grew its position in shares of Redwood Trust by 18.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 15,113 shares of the real estate investment trust’s stock valued at $85,000 after purchasing an additional 2,363 shares during the period. Inceptionr LLC grew its position in shares of Redwood Trust by 10.7% in the 3rd quarter. Inceptionr LLC now owns 26,377 shares of the real estate investment trust’s stock valued at $153,000 after purchasing an additional 2,560 shares during the period. Bank of New York Mellon Corp increased its stake in Redwood Trust by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 714,220 shares of the real estate investment trust’s stock worth $3,385,000 after purchasing an additional 2,627 shares in the last quarter. Finally, Choreo LLC increased its stake in Redwood Trust by 29.4% during the 4th quarter. Choreo LLC now owns 13,893 shares of the real estate investment trust’s stock worth $77,000 after purchasing an additional 3,158 shares in the last quarter. Institutional investors and hedge funds own 74.34% of the company’s stock.

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.