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.
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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