Redwood Trust, Inc. (NYSE:RWT) Expected to Post Quarterly Sales of $40.53 Million

Brokerages predict that Redwood Trust, Inc. (NYSE:RWT – Get Rating) will announce $40.53 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Redwood Trust’s earnings, with the lowest sales estimate coming in at $18.58 million and the highest estimate coming in at $54.00 million. Redwood Trust posted sales of $26.00 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 55.9%. The company is scheduled to report its next quarterly earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Redwood Trust will report full-year sales of $190.57 million for the current fiscal year, with estimates ranging from $138.70 million to $236.00 million. For the next financial year, analysts forecast that the company will post sales of $216.28 million, with estimates ranging from $169.63 million to $276.00 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover Redwood Trust.

Redwood Trust (NYSE:RWT – Get Rating) last issued its quarterly earnings data on Wednesday, February 9th. The real estate investment trust reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). Redwood Trust had a net margin of 55.48% and a return on equity of 14.57%. During the same period in the prior year, the company posted $0.26 EPS.

A number of equities research analysts recently weighed in on RWT shares. Credit Suisse Group dropped their price objective on Redwood Trust from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Monday, February 28th. Zacks Investment Research raised Redwood Trust from a “sell” rating to a “hold” rating in a research report on Thursday. StockNews.com initiated coverage on Redwood Trust in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Piper Sandler decreased their price target on Redwood Trust from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Tuesday, April 5th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Redwood Trust currently has an average rating of “Buy” and a consensus price target of $14.57.

RWT stock traded down $0.01 during trading on Tuesday, reaching $9.70. 611,203 shares of the company traded hands, compared to its average volume of 1,220,486. Redwood Trust has a 12 month low of $9.53 and a 12 month high of $14.17. The business has a 50 day simple moving average of $10.51 and a 200 day simple moving average of $12.26. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 4.09 and a beta of 0.97. The company has a debt-to-equity ratio of 7.86, a quick ratio of 5.53 and a current ratio of 5.53.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Thursday, March 24th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 9.48%. The ex-dividend date was Wednesday, March 23rd. Redwood Trust’s payout ratio is 38.82%.

Hedge funds have recently made changes to their positions in the stock. Clearview Wealth Advisors LLC purchased a new position in Redwood Trust during the fourth quarter valued at approximately $27,000. Geneos Wealth Management Inc. grew its holdings in Redwood Trust by 66.8% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,560 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,025 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Redwood Trust in the third quarter valued at approximately $42,000. Confluence Wealth Services Inc. acquired a new stake in Redwood Trust in the fourth quarter valued at approximately $42,000. Finally, Penserra Capital Management LLC acquired a new stake in Redwood Trust in the third quarter valued at approximately $87,000. Institutional investors own 72.37% of the company’s stock.

About Redwood Trust (Get Rating)

Redwood Trust, Inc, together with its subsidiaries, operates as a specialty finance company in the United States. The company operates through three segments: Residential Mortgage Banking, Business Purpose Mortgage Banking, and Investment Portfolio. The Residential 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.

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