Keefe, Bruyette & Woods Issues Positive Forecast for Redwood Trust (NYSE:RWT) Stock Price

Redwood Trust (NYSE:RWT) had its price target hoisted by Keefe, Bruyette & Woods from $5.75 to $7.00 in a research report report published on Wednesday,Benzinga reports. They currently have a market perform rating on the real estate investment trust’s stock.

A number of other brokerages also recently issued reports on RWT. Weiss Ratings reissued a “sell (d)” rating on shares of Redwood Trust in a research report on Thursday, January 22nd. Citigroup reiterated a “market perform” rating on shares of Redwood Trust in a research report on Wednesday. JPMorgan Chase & Co. raised shares of Redwood Trust from a “neutral” rating to an “overweight” rating and set a $6.00 price target on the stock in a research note on Friday, January 23rd. Wall Street Zen upgraded shares of Redwood Trust from a “sell” rating to a “hold” rating in a report on Sunday. Finally, JonesTrading dropped their target price on shares of Redwood Trust from $7.00 to $6.25 and set a “buy” rating for the company in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $6.96.

Redwood Trust Stock Down 1.0%

RWT stock opened at $6.43 on Wednesday. Redwood Trust has a one year low of $4.68 and a one year high of $6.97. The firm has a market cap of $813.92 million, a PE ratio of -10.53 and a beta of 1.59. The firm’s 50 day moving average price is $5.73 and its 200-day moving average price is $5.71. The company has a debt-to-equity ratio of 22.68, a quick ratio of 57.77 and a current ratio of 57.77.

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

Redwood Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 23rd were paid a $0.18 dividend. The ex-dividend date was Tuesday, December 23rd. This represents a $0.72 annualized dividend and a dividend yield of 11.2%. Redwood Trust’s payout ratio is -118.03%.

Institutional Investors Weigh In On Redwood Trust

Large investors have recently bought and sold shares of the stock. Clearstead Advisors LLC boosted its stake in shares of Redwood Trust by 192.5% in the 4th quarter. Clearstead Advisors LLC now owns 5,428 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 3,572 shares during the period. CWM LLC increased its stake in shares of Redwood Trust by 270.5% during the second quarter. CWM LLC now owns 6,168 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 4,503 shares during the period. Russell Investments Group Ltd. raised its holdings in Redwood Trust by 331.8% in the second quarter. Russell Investments Group Ltd. now owns 7,915 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 6,082 shares in the last quarter. Westbourne Investments Inc. purchased a new position in Redwood Trust in the fourth quarter worth approximately $55,000. Finally, Bank of Marin acquired a new position in Redwood Trust during the 4th quarter worth approximately $58,000. Hedge funds and other institutional investors own 74.34% of the company’s stock.

Redwood Trust Company Profile

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.