Redwood Trust, Inc. (NYSE:RWT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Redwood Trust, Inc. (NYSE:RWT) have earned a consensus recommendation of “Moderate Buy” from the eight analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $6.75.

RWT has been the subject of several recent analyst reports. Zacks Research raised shares of Redwood Trust from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. Jones Trading decreased their target price on Redwood Trust from $7.00 to $6.25 and set a “buy” rating for the company in a research note on Thursday, October 30th. Wall Street Zen downgraded Redwood Trust from a “hold” rating to a “sell” rating in a report on Saturday. JPMorgan Chase & Co. upgraded 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. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Redwood Trust in a research report on Thursday, January 22nd.

Redwood Trust Stock Performance

NYSE:RWT opened at $5.61 on Wednesday. Redwood Trust has a fifty-two week low of $4.68 and a fifty-two week high of $6.70. The company has a 50 day moving average price of $5.64 and a 200 day moving average price of $5.68. The stock has a market capitalization of $710.67 million, a P/E ratio of -6.93 and a beta of 1.59. The company has a debt-to-equity ratio of 22.73, a quick ratio of 57.77 and a current ratio of 57.77.

Redwood Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Tuesday, December 23rd were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 12.8%. The ex-dividend date was Tuesday, December 23rd. Redwood Trust’s dividend payout ratio (DPR) is currently -88.89%.

Hedge Funds Weigh In On Redwood Trust

Hedge funds have recently made changes to their positions in the company. Clearstead Advisors LLC lifted its holdings 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 purchasing an additional 3,572 shares during the last quarter. CWM LLC grew its stake in Redwood Trust by 270.5% during the 2nd 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 last quarter. Russell Investments Group Ltd. increased its position in Redwood Trust by 331.8% during the second quarter. Russell Investments Group Ltd. now owns 7,915 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 6,082 shares during the period. Westbourne Investments Inc. purchased a new stake in Redwood Trust in the fourth quarter valued at approximately $55,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Redwood Trust by 71.6% in the fourth quarter. GAMMA Investing LLC now owns 11,054 shares of the real estate investment trust’s stock valued at $61,000 after acquiring an additional 4,611 shares during the period. 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.