Redwood Trust, Inc. (NYSE:RWT) Expected to Post Earnings of $0.31 Per Share

Wall Street brokerages expect Redwood Trust, Inc. (NYSE:RWTGet Rating) to post earnings per share of $0.31 for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Redwood Trust’s earnings, with estimates ranging from $0.29 to $0.35. Redwood Trust reported earnings of $0.33 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 6.1%. The company is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Redwood Trust will report full-year earnings of $1.29 per share for the current fiscal year, with EPS estimates ranging from $1.19 to $1.39. For the next year, analysts forecast that the business will report earnings of $1.55 per share, with EPS estimates ranging from $1.30 to $1.86. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Redwood Trust.

Redwood Trust (NYSE:RWTGet Rating) last released its quarterly earnings results on Thursday, April 28th. The real estate investment trust reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.02). Redwood Trust had a net margin of 39.78% and a return on equity of 13.09%. During the same period in the prior year, the business posted $0.40 earnings per share.

Several equities research analysts recently commented on RWT shares. TheStreet cut Redwood Trust from a “c” rating to a “d+” rating in a research note on Thursday, April 14th. Zacks Investment Research cut shares of Redwood Trust from a “hold” rating to a “sell” rating in a report on Thursday, April 21st. StockNews.com initiated coverage on shares of Redwood Trust in a research report on Thursday, March 31st. They set a “hold” rating on the stock. JMP Securities decreased their target price on Redwood Trust from $14.50 to $13.00 in a research report on Tuesday, April 26th. Finally, Credit Suisse Group dropped their price target on Redwood Trust from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Monday, February 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $14.29.

Shares of NYSE:RWT traded up $0.65 during trading on Friday, reaching $9.70. The stock had a trading volume of 2,502,122 shares, compared to its average volume of 1,676,322. Redwood Trust has a 52 week low of $8.63 and a 52 week high of $14.17. 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 firm’s fifty day moving average is $10.14 and its 200 day moving average is $11.97. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 5.13 and a beta of 0.97.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Thursday, March 24th were paid a $0.23 dividend. The ex-dividend date was Wednesday, March 23rd. This represents a $0.92 dividend on an annualized basis and a yield of 9.48%. Redwood Trust’s dividend payout ratio (DPR) is presently 48.68%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC lifted its stake in Redwood Trust by 232.4% in the third quarter. SG Americas Securities LLC now owns 131,039 shares of the real estate investment trust’s stock valued at $1,689,000 after purchasing an additional 91,619 shares during the last quarter. LSV Asset Management grew its stake in shares of Redwood Trust by 14.5% during the 3rd quarter. LSV Asset Management now owns 745,701 shares of the real estate investment trust’s stock worth $9,612,000 after acquiring an additional 94,577 shares during the period. Swiss National Bank increased its holdings in Redwood Trust by 1.1% in the 3rd quarter. Swiss National Bank now owns 249,700 shares of the real estate investment trust’s stock worth $3,219,000 after acquiring an additional 2,600 shares during the last quarter. Meeder Asset Management Inc. raised its stake in Redwood Trust by 174.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 16,462 shares of the real estate investment trust’s stock valued at $212,000 after acquiring an additional 10,457 shares during the period. Finally, CIBC Asset Management Inc purchased a new stake in Redwood Trust during the third quarter valued at about $134,000. Institutional investors and hedge funds own 72.37% of the company’s stock.

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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Earnings History and Estimates for Redwood Trust (NYSE:RWT)

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