Redwood Trust’s (RWT) Neutral Rating Reiterated at Wedbush

Wedbush reissued their neutral rating on shares of Redwood Trust (NYSE:RWT) in a report issued on Wednesday, Benzinga reports. The firm currently has a $6.50 price objective on the real estate investment trust’s stock.

RWT has been the topic of several other research reports. Wells Fargo & Company lowered their price objective on Redwood Trust from $8.00 to $7.00 and set an equal weight rating on the stock in a research report on Wednesday, February 21st. Keefe, Bruyette & Woods decreased 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. Raymond James dropped their price target on shares of Redwood Trust from $9.00 to $8.50 and set a strong-buy rating for the company in a research report on Friday, January 19th. UBS Group cut 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. Finally, Piper Sandler lowered their price objective on Redwood Trust from $7.50 to $7.00 and set a neutral rating on the stock in a research note on Wednesday, February 21st. Four 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $7.66.

Redwood Trust Trading Down 0.2 %

Shares of NYSE:RWT opened at $6.35 on Wednesday. Redwood Trust has a 12-month low of $5.45 and a 12-month high of $8.30. The business has a 50 day moving average of $6.03 and a 200-day moving average of $6.61. The company has a quick ratio of 7.36, a current ratio of 10.79 and a debt-to-equity ratio of 10.08. The stock has a market cap of $835.53 million, a PE ratio of 90.71 and a beta of 1.50.

Redwood Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders 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 dividend on an annualized basis and a yield of 10.08%. Redwood Trust’s dividend payout ratio is currently 914.29%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RWT. Mutual of America Capital Management LLC increased its stake in shares of Redwood Trust by 9.1% in the first quarter. Mutual of America Capital Management LLC now owns 22,653 shares of the real estate investment trust’s stock valued at $144,000 after buying an additional 1,889 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Redwood Trust by 13.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,103,231 shares of the real estate investment trust’s stock valued at $7,182,000 after purchasing an additional 127,143 shares during the period. Van ECK Associates Corp lifted its holdings in Redwood Trust by 13.2% during the 1st quarter. Van ECK Associates Corp now owns 801,966 shares of the real estate investment trust’s stock worth $5,109,000 after buying an additional 93,507 shares during the period. Principal Financial Group Inc. grew its position in shares of Redwood Trust by 10.5% in the 1st quarter. Principal Financial Group Inc. now owns 682,706 shares of the real estate investment trust’s stock valued at $4,349,000 after buying an additional 64,981 shares during the last quarter. Finally, Peregrine Capital Management LLC increased its stake in shares of Redwood Trust by 13.3% in the first quarter. Peregrine Capital Management LLC now owns 1,148,565 shares of the real estate investment trust’s stock valued at $7,316,000 after buying an additional 134,715 shares during the period. 74.34% of the stock is currently owned by institutional investors and hedge funds.

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.