Redwood Trust (RWT) Set to Announce Quarterly Earnings on Thursday

Redwood Trust (NYSE:RWT – Get Rating) is set to announce its earnings results after the market closes on Thursday, April 28th. Analysts expect the company to announce earnings of $0.27 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Redwood Trust (NYSE:RWT – Get Rating) last issued its quarterly earnings results on Wednesday, February 9th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 business posted $0.26 earnings per share. On average, analysts expect Redwood Trust to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Shares of RWT stock opened at $9.25 on Thursday. The firm has a market capitalization of $1.11 billion, a P/E ratio of 3.90 and a beta of 0.97. Redwood Trust has a twelve month low of $9.04 and a twelve month high of $14.17. The company has a quick ratio of 5.53, a current ratio of 5.53 and a debt-to-equity ratio of 7.86. The stock’s fifty day simple moving average is $10.36 and its 200 day simple moving average is $12.19.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Thursday, March 24th were given a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, March 23rd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 9.95%. Redwood Trust’s dividend payout ratio (DPR) is presently 38.82%.

Hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC purchased a new stake in Redwood Trust in the 3rd quarter worth $146,000. Guggenheim Capital LLC bought a new position in shares of Redwood Trust during the fourth quarter valued at approximately $177,000. Penserra Capital Management LLC lifted its position in Redwood Trust by 139.5% during the fourth quarter. Penserra Capital Management LLC now owns 16,320 shares of the real estate investment trust’s stock valued at $215,000 after acquiring an additional 9,505 shares during the last quarter. NewEdge Advisors LLC lifted its position in Redwood Trust by 37.3% during the fourth quarter. NewEdge Advisors LLC now owns 28,436 shares of the real estate investment trust’s stock valued at $375,000 after acquiring an additional 7,726 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its holdings in shares of Redwood Trust by 65.3% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 36,200 shares of the real estate investment trust’s stock worth $478,000 after buying an additional 14,300 shares during the last quarter. 72.37% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts recently weighed in on the company. StockNews.com assumed coverage on Redwood Trust in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Piper Sandler reduced their target price on Redwood Trust from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Tuesday, April 5th. Credit Suisse Group reduced their price objective on Redwood Trust from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Monday, February 28th. TheStreet downgraded Redwood Trust from a “c” rating to a “d+” rating in a research report on Thursday, April 14th. Finally, Zacks Investment Research upgraded Redwood Trust from a “sell” rating to a “hold” rating in a research report on Thursday, April 14th. Three 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 company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $14.57.

Redwood Trust Company Profile (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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