Redwood Trust (NYSE:RWT) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Redwood Trust (NYSE:RWT) from a sell rating to a hold rating in a report published on Sunday morning.

A number of other equities analysts have also issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Redwood Trust from a “neutral” rating to an “overweight” rating and set a $6.00 target price for the company in a research report on Friday, January 23rd. Jones Trading dropped their target price on Redwood Trust from $7.00 to $6.25 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Zacks Research upgraded Redwood Trust from a “hold” rating to a “strong-buy” rating in a report on Monday, January 26th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Redwood Trust in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Redwood Trust has a consensus rating of “Moderate Buy” and an average target price of $6.75.

Redwood Trust Stock Down 1.4%

RWT opened at $6.59 on Friday. The business’s fifty day simple moving average is $5.67 and its 200 day simple moving average is $5.69. The company has a quick ratio of 57.77, a current ratio of 57.77 and a debt-to-equity ratio of 22.68. The firm has a market cap of $834.19 million, a P/E ratio of -10.80 and a beta of 1.59. Redwood Trust has a 52 week low of $4.68 and a 52 week high of $6.97.

Redwood Trust (NYSE:RWT) last released its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. The business had revenue of $87.30 million during the quarter, compared to the consensus estimate of $24.88 million. Redwood Trust had a positive return on equity of 11.80% and a negative net margin of 8.62%. As a group, equities research analysts anticipate that Redwood Trust will post 0.78 EPS for the current fiscal year.

Redwood Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 23rd were issued a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, December 23rd. This represents a $0.72 dividend on an annualized basis and a yield of 10.9%. Redwood Trust’s payout ratio is currently -118.03%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RWT. Clearstead Advisors LLC boosted its holdings in Redwood Trust by 192.5% in the fourth quarter. Clearstead Advisors LLC now owns 5,428 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 3,572 shares during the last quarter. CWM LLC increased its stake in Redwood Trust by 270.5% in the second quarter. CWM LLC now owns 6,168 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 4,503 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Redwood Trust by 331.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,915 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 6,082 shares in the last quarter. Westbourne Investments Inc. bought a new position in shares of Redwood Trust during the 4th quarter worth about $55,000. Finally, GAMMA Investing LLC grew its stake in shares of Redwood Trust by 71.6% in the 4th quarter. GAMMA Investing LLC now owns 11,054 shares of the real estate investment trust’s stock valued at $61,000 after buying an additional 4,611 shares during the period. 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.