Brokerages Set Redwood Trust, Inc. (NYSE:RWT) PT at $6.75

Redwood Trust, Inc. (NYSE:RWT) has been given an average rating of “Moderate Buy” by the eight brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $6.75.

Several equities research analysts have recently commented on RWT shares. JPMorgan Chase & Co. upgraded Redwood Trust from a “neutral” rating to an “overweight” rating and set a $6.00 price target for the company in a research note on Friday, January 23rd. Wall Street Zen downgraded shares of Redwood Trust from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Jones Trading reduced their target price on shares of Redwood Trust from $7.00 to $6.25 and set a “buy” rating for the company in a research note on Thursday, October 30th. Weiss Ratings reiterated a “sell (d)” rating on shares of Redwood Trust in a research note on Thursday, January 22nd. Finally, Zacks Research raised shares of Redwood Trust from a “hold” rating to a “strong-buy” rating in a report on Monday, January 26th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Boston Partners raised its holdings in Redwood Trust by 2.0% during the second quarter. Boston Partners now owns 2,750,890 shares of the real estate investment trust’s stock worth $16,117,000 after purchasing an additional 54,209 shares during the last quarter. Concurrent Investment Advisors LLC increased its position in shares of Redwood Trust by 4.7% in the second quarter. Concurrent Investment Advisors LLC now owns 41,474 shares of the real estate investment trust’s stock valued at $245,000 after buying an additional 1,866 shares in the last quarter. Penserra Capital Management LLC acquired a new position in shares of Redwood Trust during the 2nd quarter worth $1,114,000. NFC Investments LLC boosted its position in shares of Redwood Trust by 12.8% in the 2nd quarter. NFC Investments LLC now owns 486,181 shares of the real estate investment trust’s stock worth $2,873,000 after buying an additional 55,081 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC boosted its position in shares of Redwood Trust by 26.6% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 60,775 shares of the real estate investment trust’s stock worth $359,000 after buying an additional 12,782 shares in the last quarter. Hedge funds and other institutional investors own 74.34% of the company’s stock.

Redwood Trust Trading Down 1.4%

RWT opened at $6.59 on Wednesday. The company has a quick ratio of 57.77, a current ratio of 57.77 and a debt-to-equity ratio of 22.68. Redwood Trust has a 52 week low of $4.68 and a 52 week high of $6.97. The business’s 50 day moving average is $5.67 and its two-hundred day moving average is $5.69. The firm has a market cap of $834.19 million, a price-to-earnings ratio of -10.80 and a beta of 1.59.

Redwood Trust (NYSE:RWT) last posted its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.11. The business had revenue of $87.30 million during the quarter, compared to the consensus estimate of $24.88 million. Redwood Trust had a positive return on equity of 11.80% and a negative net margin of 8.62%. On average, research analysts predict that Redwood Trust will post 0.78 EPS for the current year.

Redwood Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 23rd were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 10.9%. The ex-dividend date of this dividend was Tuesday, December 23rd. Redwood Trust’s dividend payout ratio (DPR) is currently -88.89%.

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.