Redwood Trust (NYSE:RWT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Redwood Trust (NYSE:RWT) from a sell rating to a hold rating in a research report sent to investors on Saturday.

A number of other research analysts also recently issued reports on RWT. UBS Group boosted their price target on Redwood Trust from $6.50 to $7.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Redwood Trust in a research note on Wednesday, October 8th. Jones Trading dropped their price target on shares of Redwood Trust from $7.00 to $6.25 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $8.50 price objective on shares of Redwood Trust in a report on Friday, September 26th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Redwood Trust has a consensus rating of “Hold” and a consensus price target of $6.75.

Redwood Trust Price Performance

NYSE:RWT opened at $5.51 on Friday. The firm’s fifty day moving average is $5.44 and its two-hundred day moving average is $5.74. The firm has a market cap of $697.37 million, a price-to-earnings ratio of -6.80 and a beta of 1.59. The company has a debt-to-equity ratio of 22.73, a quick ratio of 57.77 and a current ratio of 57.77. Redwood Trust has a one year low of $4.68 and a one year high of $6.73.

Redwood Trust (NYSE:RWT) last issued its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.04. Redwood Trust had a positive return on equity of 9.19% and a negative net margin of 8.62%.The business had revenue of $54.37 million during the quarter, compared to analysts’ expectations of $31.04 million. Research analysts expect that Redwood Trust will post 0.78 EPS for the current year.

Redwood Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 23rd will be given a $0.18 dividend. The ex-dividend date is Tuesday, December 23rd. This represents a $0.72 annualized dividend and a dividend yield of 13.1%. Redwood Trust’s dividend payout ratio (DPR) is -88.89%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RWT. CWM LLC increased its stake in Redwood Trust by 270.5% during the 2nd quarter. CWM LLC now owns 6,168 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 4,503 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Redwood Trust in the first quarter worth approximately $37,000. Russell Investments Group Ltd. increased its position in shares of Redwood Trust by 331.8% during the second quarter. Russell Investments Group Ltd. now owns 7,915 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 6,082 shares in the last quarter. AlphaQuest LLC increased its position in shares of Redwood Trust by 165.5% during the first quarter. AlphaQuest LLC now owns 8,589 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 5,354 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in Redwood Trust by 136.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,823 shares of the real estate investment trust’s stock valued at $64,000 after purchasing an additional 6,255 shares during the last quarter. 74.34% of the stock is owned by hedge funds and other institutional investors.

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.