Redwood Trust, Inc. (NYSE:RWT) Receives $6.96 Average PT from Analysts

Shares of Redwood Trust, Inc. (NYSE:RWT) have been given an average recommendation of “Moderate Buy” by the ten brokerages that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $6.8214.

RWT has been the topic of several recent analyst reports. Citigroup reissued a “market perform” rating on shares of Redwood Trust in a research note on Wednesday, February 18th. JPMorgan Chase & Co. raised shares of Redwood Trust from a “neutral” rating to an “overweight” rating and set a $6.00 price objective on the stock in a research report on Friday, January 23rd. Weiss Ratings reissued a “sell (d)” rating on shares of Redwood Trust in a research report on Thursday, January 22nd. Wall Street Zen cut shares of Redwood Trust from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Redwood Trust from $5.75 to $7.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 18th.

Hedge Funds Weigh In On Redwood Trust

A number of institutional investors and hedge funds have recently made changes to their positions in RWT. Clearstead Advisors LLC grew its position in 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 valued at $30,000 after purchasing an additional 3,572 shares during the period. Russell Investments Group Ltd. grew its position in Redwood Trust by 331.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 7,915 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 6,082 shares during the period. CWM LLC grew its position in Redwood Trust by 54.2% in the 3rd quarter. CWM LLC now owns 9,514 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 3,346 shares during the period. Westbourne Investments Inc. acquired a new stake in Redwood Trust in the 4th quarter valued at $55,000. Finally, Bank of Marin acquired a new stake in Redwood Trust in the 4th quarter valued at $58,000. Institutional investors own 74.34% of the company’s stock.

Redwood Trust Price Performance

Redwood Trust stock opened at $5.72 on Thursday. The company has a current ratio of 55.15, a quick ratio of 55.15 and a debt-to-equity ratio of 24.34. The company has a market capitalization of $714.38 million, a PE ratio of -9.37 and a beta of 1.52. Redwood Trust has a 12 month low of $4.68 and a 12 month high of $6.97. The stock has a 50-day moving average price of $5.84 and a two-hundred day moving average price of $5.66.

Redwood Trust (NYSE:RWT) last posted its earnings results on Wednesday, February 11th. The real estate investment trust reported $0.20 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.02). Redwood Trust had a negative net margin of 5.93% and a positive return on equity of 12.00%. The firm had revenue of $140.33 million during the quarter, compared to the consensus estimate of $24.88 million. Analysts expect that Redwood Trust will post 0.78 EPS for the current year.

Redwood Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 12.6%. The ex-dividend date of this dividend was Tuesday, March 24th. Redwood Trust’s dividend payout ratio is -118.03%.

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.