Redwood Trust, Inc. (RWT) to Issue Quarterly Dividend of $0.30 on September 30th

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Redwood Trust, Inc. (NYSE:RWT) declared a quarterly dividend on Wednesday, August 7th, RTT News reports. Stockholders of record on Monday, September 16th will be given a dividend of 0.30 per share by the real estate investment trust on Monday, September 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.06%. The ex-dividend date of this dividend is Friday, September 13th.

Redwood Trust has raised its dividend payment by an average of 1.8% per year over the last three years. Redwood Trust has a dividend payout ratio of 67.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Redwood Trust to earn $1.68 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 71.4%.

RWT stock opened at $16.99 on Wednesday. The company has a debt-to-equity ratio of 6.07, a current ratio of 4.41 and a quick ratio of 4.41. The business has a 50-day moving average price of $16.84 and a 200 day moving average price of $16.30. The company has a market capitalization of $1.91 billion, a P/E ratio of 9.54 and a beta of 0.67. Redwood Trust has a 1-year low of $14.29 and a 1-year high of $17.25.

Redwood Trust (NYSE:RWT) last issued its earnings results on Thursday, August 1st. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.01. Redwood Trust had a net margin of 21.26% and a return on equity of 10.71%. The company had revenue of $32.00 million for the quarter, compared to analysts’ expectations of $42.20 million. During the same period in the prior year, the business earned $0.41 EPS. The firm’s quarterly revenue was down 8.6% on a year-over-year basis. On average, analysts anticipate that Redwood Trust will post 1.51 earnings per share for the current fiscal year.

Several brokerages recently issued reports on RWT. Nomura lifted their price objective on shares of Redwood Trust from $17.50 to $18.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Zacks Investment Research raised shares of Redwood Trust from a “hold” rating to a “strong-buy” rating and set a $20.00 price objective for the company in a research note on Friday, August 23rd. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $18.30.

About Redwood Trust

Redwood Trust, Inc, together with its subsidiaries, operates as a specialty finance company in the United States. The company operates through two segments, Investment Portfolio and Residential Mortgage Banking. The Investment Portfolio segment offers a portfolio of investments in residential mortgage-backed securities retained from Sequoia securitizations, as well as issued by third parties and other credit risk-related investments; and invests directly in residential mortgage loans.

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Dividend History for Redwood Trust (NYSE:RWT)

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