Redwood Trust, Inc. to Post FY2024 Earnings of $0.50 Per Share, Wedbush Forecasts (NYSE:RWT)

Redwood Trust, Inc. (NYSE:RWT) – Stock analysts at Wedbush decreased their FY2024 EPS estimates for Redwood Trust in a research report issued to clients and investors on Thursday, April 11th. Wedbush analyst J. Mccanless now anticipates that the real estate investment trust will earn $0.50 per share for the year, down from their previous forecast of $0.55. Wedbush has a “Neutral” rating and a $6.50 price target on the stock. The consensus estimate for Redwood Trust’s current full-year earnings is $0.48 per share.

Several other research analysts have also recently issued reports on RWT. Wells Fargo & Company cut their price target on shares of Redwood Trust from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday, February 21st. JMP Securities reissued a “market outperform” rating and set a $8.00 price target on shares of Redwood Trust in a report on Wednesday, April 10th. UBS Group lowered their target price on shares of Redwood Trust from $9.00 to $8.50 and set a “buy” rating on the stock in a research report on Tuesday, March 5th. Keefe, Bruyette & Woods lowered their target price on shares of Redwood Trust from $7.75 to $7.25 and set an “outperform” rating on the stock in a research report on Wednesday, April 10th. Finally, Piper Sandler lowered their target price on shares of Redwood Trust from $7.50 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Redwood Trust has a consensus rating of “Moderate Buy” and a consensus price target of $7.64.

Redwood Trust Trading Down 1.7 %

NYSE RWT opened at $5.73 on Monday. The stock has a market capitalization of $753.95 million, a P/E ratio of -47.75 and a beta of 1.48. Redwood Trust has a 52-week low of $5.47 and a 52-week high of $8.30. The firm has a 50-day moving average price of $6.25 and a 200 day moving average price of $6.74. The company has a quick ratio of 7.36, a current ratio of 7.36 and a debt-to-equity ratio of 10.12.

Institutional Trading of Redwood Trust

Several large investors have recently modified their holdings of the business. Quadrature Capital Ltd grew its position in shares of Redwood Trust by 122.8% in the fourth quarter. Quadrature Capital Ltd now owns 40,374 shares of the real estate investment trust’s stock valued at $299,000 after purchasing an additional 22,254 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Redwood Trust by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 12,973,503 shares of the real estate investment trust’s stock valued at $96,134,000 after buying an additional 78,222 shares during the period. Wellington Management Group LLP lifted its stake in shares of Redwood Trust by 164.4% during the fourth quarter. Wellington Management Group LLP now owns 11,314,715 shares of the real estate investment trust’s stock valued at $83,842,000 after buying an additional 7,035,524 shares during the period. O Dell Group LLC purchased a new position in shares of Redwood Trust during the fourth quarter valued at approximately $44,000. Finally, Nuveen Asset Management LLC lifted its stake in shares of Redwood Trust by 5.5% during the fourth quarter. Nuveen Asset Management LLC now owns 306,616 shares of the real estate investment trust’s stock valued at $2,272,000 after buying an additional 16,069 shares during the period. 74.34% of the stock is currently owned by institutional investors and hedge funds.

Redwood Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 21st were given a $0.16 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $0.64 annualized dividend and a dividend yield of 11.17%. Redwood Trust’s dividend payout ratio is presently -533.33%.

About Redwood Trust

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