Redwood Trust, Inc. (NYSE:RWT) Given Average Rating of “Hold” by Analysts

Redwood Trust, Inc. (NYSE:RWT) has been assigned a consensus rating of “Hold” from the seven research firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $6.75.

A number of analysts have recently weighed in on the stock. Jones Trading decreased their price target on shares of Redwood Trust from $7.00 to $6.25 and set a “buy” rating for the company in a research report on Thursday, October 30th. Wall Street Zen downgraded shares of Redwood Trust from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings reissued a “sell (d)” rating on shares of Redwood Trust in a research report on Wednesday, October 8th. Finally, BTIG Research reaffirmed a “buy” rating and set a $8.50 price target on shares of Redwood Trust in a research report on Friday, September 26th.

Redwood Trust Stock Performance

Shares of NYSE:RWT opened at $5.97 on Friday. The firm has a market capitalization of $755.65 million, a PE ratio of -7.36 and a beta of 1.58. The company has a debt-to-equity ratio of 22.73, a current ratio of 57.77 and a quick ratio of 57.77. The business has a 50-day moving average of $5.50 and a two-hundred day moving average of $5.73. Redwood Trust has a 12 month low of $4.68 and a 12 month high of $6.73.

Redwood Trust (NYSE:RWT) last posted its earnings results on Wednesday, October 29th. The real estate investment trust reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.04. The business had revenue of $54.37 million for the quarter, compared to analyst estimates of $31.04 million. Redwood Trust had a negative net margin of 8.62% and a positive return on equity of 9.19%. As a group, research analysts forecast that Redwood Trust will post 0.78 earnings per share for the current year.

Redwood Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Tuesday, December 23rd were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 12.1%. The ex-dividend date of this dividend was Tuesday, December 23rd. Redwood Trust’s dividend payout ratio is currently -88.89%.

Hedge Funds Weigh In On Redwood Trust

Hedge funds and other institutional investors have recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Redwood Trust by 26.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 492,661 shares of the real estate investment trust’s stock valued at $2,990,000 after purchasing an additional 103,893 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Redwood Trust in the first quarter valued at approximately $2,018,000. Strs Ohio bought a new position in shares of Redwood Trust in the first quarter valued at approximately $149,000. State of Alaska Department of Revenue increased its stake in shares of Redwood Trust by 8.0% during the second quarter. State of Alaska Department of Revenue now owns 79,299 shares of the real estate investment trust’s stock valued at $467,000 after acquiring an additional 5,871 shares during the period. Finally, Inspire Investing LLC raised its holdings in Redwood Trust by 16.8% during the second quarter. Inspire Investing LLC now owns 66,356 shares of the real estate investment trust’s stock worth $392,000 after purchasing an additional 9,547 shares in the last quarter. Institutional investors and hedge funds own 74.34% of the company’s stock.

About Redwood Trust

Redwood Trust, Inc (NYSE:RWT) is a publicly traded real estate investment trust specializing in the U.S. residential mortgage market. Headquartered in Mill Valley, California, the company focuses on investing in a diversified portfolio of residential mortgage assets, including whole loans, agency and non-agency mortgage-backed securities, and structured credit products.

The company’s core activities encompass the acquisition, financing, and management of prime residential mortgage whole loans and mortgage-backed securities.