Redwood Trust (NYSE:RWT) Hits New 52-Week Low at $5.46

Redwood Trust, Inc. (NYSE:RWT)’s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $5.46 and last traded at $5.46, with a volume of 112123 shares trading hands. The stock had previously closed at $5.59.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RWT. UBS Group dropped their price target on Redwood Trust from $9.00 to $8.50 and set a “buy” rating for the company in a research note on Tuesday, March 5th. Wedbush lowered Redwood Trust from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $8.00 to $6.50 in a research note on Thursday, April 11th. JMP Securities reissued a “market outperform” rating and set a $8.00 price target on shares of Redwood Trust in a research note on Wednesday, April 10th. Wells Fargo & Company dropped their price target on Redwood Trust from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 21st. Finally, Raymond James dropped their price target on Redwood Trust from $9.00 to $8.50 and set a “strong-buy” rating for the company in a research note on Friday, January 19th. Four investment 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $7.64.

Redwood Trust Trading Up 0.5 %

The company has a quick ratio of 7.36, a current ratio of 7.36 and a debt-to-equity ratio of 10.12. The firm has a fifty day moving average price of $6.19 and a two-hundred day moving average price of $6.71.

Redwood Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 21st were issued a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $0.64 annualized dividend and a dividend yield of 11.60%. Redwood Trust’s payout ratio is -533.33%.

Institutional Investors Weigh In On Redwood Trust

Several hedge funds and other institutional investors have recently modified their holdings of RWT. International Assets Investment Management LLC raised its holdings in shares of Redwood Trust by 641.0% in the fourth quarter. International Assets Investment Management LLC now owns 3,705 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 3,205 shares during the period. Quarry LP raised its holdings in shares of Redwood Trust by 736.7% in the first quarter. Quarry LP now owns 5,614 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 4,943 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Redwood Trust by 71.9% in the second quarter. Tower Research Capital LLC TRC now owns 6,683 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 2,796 shares during the period. O Dell Group LLC purchased a new stake in shares of Redwood Trust in the fourth quarter worth approximately $44,000. Finally, Metropolitan Life Insurance Co NY raised its holdings in shares of Redwood Trust by 29.6% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 7,213 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 1,649 shares during the period. 74.34% of the stock is currently owned by hedge funds and other institutional investors.

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.