Redwood Trust’s (RWT) “Buy” Rating Reiterated at BTIG Research

BTIG Research reiterated their buy rating on shares of Redwood Trust (NYSE:RWT) in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a $6.00 price target on the real estate investment trust’s stock.

A number of other research analysts have also recently commented on RWT. Keefe, Bruyette & Woods upgraded Redwood Trust from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $7.00 to $6.00 in a research note on Thursday, July 9th. Weiss Ratings reissued a “sell (d)” rating on shares of Redwood Trust in a research report on Wednesday, June 24th. JPMorgan Chase & Co. dropped their target price on shares of Redwood Trust from $6.50 to $6.00 and set an “overweight” rating on the stock in a report on Friday, July 17th. Wall Street Zen raised shares of Redwood Trust from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Zacks Research lowered shares of Redwood Trust from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 21st. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.00.

Redwood Trust Stock Down 0.2%

Shares of NYSE RWT opened at $4.67 on Tuesday. The firm has a fifty day simple moving average of $5.03 and a two-hundred day simple moving average of $5.50. Redwood Trust has a 12 month low of $4.19 and a 12 month high of $6.97. The company has a current ratio of 59.63, a quick ratio of 59.63 and a debt-to-equity ratio of 29.41. The firm has a market capitalization of $584.78 million, a PE ratio of -116.72 and a beta of 1.37.

Redwood Trust (NYSE:RWT) last announced its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.02. Redwood Trust had a net margin of 0.56% and a return on equity of 15.73%. The company had revenue of $78.50 million for the quarter, compared to analysts’ expectations of $89.45 million. Equities analysts expect that Redwood Trust will post 1.05 earnings per share for the current year.

Redwood Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 15.4%. The ex-dividend date of this dividend was Tuesday, June 23rd. Redwood Trust’s payout ratio is -1,800.00%.

Hedge Funds Weigh In On Redwood Trust

Institutional investors and hedge funds have recently modified their holdings of the stock. Vident Advisory LLC increased its stake in 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 acquiring an additional 1,773 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake 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 last quarter. Inceptionr LLC boosted its holdings 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 worth $153,000 after purchasing an additional 2,560 shares during the period. Choreo LLC boosted its holdings in shares of Redwood Trust by 29.4% in 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 during the period. Finally, Clearstead Advisors LLC boosted its holdings in shares of Redwood Trust by 192.5% in the 4th quarter. Clearstead Advisors LLC now owns 5,428 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 3,572 shares during the period. 74.34% of the stock is currently owned by institutional investors.

Redwood Trust Company Profile

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.