According to Zacks, “REDWOOD TRUST INC. is a self-advised and self-managed real estate investment trust. It specializes in acquiring and managing real estate mortgage assets which may be acquired as whole loans or as mortgage securities reperesenting interest in or obligations backed by pools of mortgage loans. “
Several other brokerages have also recently weighed in on RWT. Maxim Group cut Redwood Trust from a buy rating to a hold rating in a research note on Wednesday, August 10th. Keefe, Bruyette & Woods cut Redwood Trust from an outperform rating to a market perform rating and set a $14.50 price target for the company. in a research note on Tuesday, July 19th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $15.55.
Shares of Redwood Trust (NYSE:RWT) opened at 13.99 on Tuesday. The company has a 50-day moving average price of $14.02 and a 200-day moving average price of $13.80. Redwood Trust has a 12 month low of $9.26 and a 12 month high of $15.24. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 10.20 and a beta of 0.71.
Redwood Trust (NYSE:RWT) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.10. Redwood Trust had a return on equity of 12.09% and a net margin of 41.54%. During the same period in the previous year, the business earned $0.31 earnings per share. Analysts forecast that Redwood Trust will post $1.35 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were given a dividend of $0.28 per share. The ex-dividend date was Tuesday, September 13th. This represents a $1.12 annualized dividend and a dividend yield of 8.01%. Redwood Trust’s payout ratio is 85.50%.
Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Redwood Trust by 0.7% in the second quarter. Vanguard Group Inc. now owns 5,600,845 shares of the company’s stock valued at $77,349,000 after buying an additional 36,218 shares during the last quarter. Kempen Capital Management N.V. raised its stake in shares of Redwood Trust by 3.8% in the first quarter. Kempen Capital Management N.V. now owns 926,750 shares of the company’s stock valued at $12,122,000 after buying an additional 34,250 shares during the last quarter. UBS Group AG raised its stake in shares of Redwood Trust by 1.5% in the first quarter. UBS Group AG now owns 919,132 shares of the company’s stock valued at $12,022,000 after buying an additional 13,768 shares during the last quarter. Hilton Capital Management LLC raised its stake in shares of Redwood Trust by 6.8% in the third quarter. Hilton Capital Management LLC now owns 825,430 shares of the company’s stock valued at $11,688,000 after buying an additional 52,748 shares during the last quarter. Finally, Global X Management Co. LLC raised its stake in shares of Redwood Trust by 4.9% in the second quarter. Global X Management Co. LLC now owns 681,675 shares of the company’s stock valued at $9,414,000 after buying an additional 31,638 shares during the last quarter. Institutional investors own 86.85% of the company’s stock.
About Redwood Trust
Redwood Trust, Inc, together with its subsidiaries, focuses on investing in mortgage- and other real estate-related assets. The Company operates through three segments: residential mortgage banking, residential investments, and commercial mortgage banking and investments. Its residential mortgage banking segment consists of operating a mortgage loan conduit that acquires residential whole loans from third-party originators for subsequent sale, securitization or transfer to its investment portfolio.
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