Redwood Trust’s (RWT) Neutral Rating Reaffirmed at Wedbush

Wedbush reaffirmed their neutral rating on shares of Redwood Trust (NYSE:RWT) in a report issued on Wednesday morning, Benzinga reports. The firm currently has a $6.50 price objective on the real estate investment trust’s stock.

Other research analysts also recently issued reports about the company. Piper Sandler dropped their price target on Redwood Trust from $7.50 to $7.00 and set a neutral rating for the company in a research note on Wednesday, February 21st. JMP Securities reiterated a market outperform rating and issued a $8.00 price target on shares of Redwood Trust in a research note on Thursday, April 18th. Wells Fargo & Company cut their price objective on Redwood Trust from $8.00 to $7.00 and set an equal weight rating for the company in a research report on Wednesday, February 21st. Raymond James decreased their target price on Redwood Trust from $9.00 to $8.50 and set a strong-buy rating on the stock in a research report on Friday, January 19th. Finally, UBS Group cut their price target on Redwood Trust from $9.00 to $8.50 and set a buy rating for the company in a report on Tuesday, March 5th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $7.66.

Redwood Trust Trading Up 11.8 %

Shares of Redwood Trust stock opened at $6.18 on Wednesday. Redwood Trust has a fifty-two week low of $5.45 and a fifty-two week high of $8.30. The company has a debt-to-equity ratio of 10.12, a quick ratio of 7.36 and a current ratio of 7.36. The company has a market capitalization of $813.16 million, a P/E ratio of 88.29 and a beta of 1.50. The company has a fifty day moving average of $6.02 and a 200 day moving average of $6.62.

Redwood Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 21st were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 10.36%. The ex-dividend date of this dividend was Wednesday, March 20th. Redwood Trust’s payout ratio is 914.29%.

Hedge Funds Weigh In On Redwood Trust

Several large investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in Redwood Trust in the third quarter worth $101,000. Inspire Investing LLC purchased a new position in shares of Redwood Trust during the 3rd quarter worth about $306,000. Allspring Global Investments Holdings LLC boosted its position in shares of Redwood Trust by 45.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,965 shares of the real estate investment trust’s stock valued at $57,000 after buying an additional 2,498 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Redwood Trust by 3.4% during the third quarter. Nisa Investment Advisors LLC now owns 91,420 shares of the real estate investment trust’s stock valued at $652,000 after buying an additional 3,042 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Redwood Trust by 383.2% in the third quarter. Victory Capital Management Inc. now owns 128,334 shares of the real estate investment trust’s stock worth $915,000 after buying an additional 101,774 shares during the period. Institutional investors own 74.34% of the company’s stock.

Redwood Trust Company Profile

Redwood Trust, Inc, together with its subsidiaries, operates as a specialty finance company in the United States. The company operates through three segments: Residential Consumer Mortgage Banking, Residential Investor Mortgage Banking, and Investment Portfolio. The Residential Consumer Mortgage Banking segment operates a mortgage loan conduit that acquires residential loans from third-party originators for subsequent sale, securitization, or transfer to its investment portfolio.