FY2024 Earnings Estimate for Redwood Trust Issued By Wedbush

Redwood Trust, Inc. (NYSE:RWT - Free Report) - Equities researchers at Wedbush raised their FY2024 earnings estimates for shares of Redwood Trust in a report issued on Thursday, October 31st. Wedbush analyst J. Mccanless now forecasts that the real estate investment trust will post earnings per share of $0.55 for the year, up from their previous forecast of $0.50. Wedbush has a "Neutral" rating and a $7.00 price target on the stock. The consensus estimate for Redwood Trust's current full-year earnings is $0.52 per share. Wedbush also issued estimates for Redwood Trust's Q4 2024 earnings at $0.16 EPS, Q1 2025 earnings at $0.17 EPS, Q2 2025 earnings at $0.19 EPS, Q3 2025 earnings at $0.20 EPS, Q4 2025 earnings at $0.19 EPS, FY2025 earnings at $0.75 EPS and FY2026 earnings at $0.85 EPS.

Redwood Trust (NYSE:RWT - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. Redwood Trust had a return on equity of 5.93% and a net margin of 12.59%. During the same quarter in the prior year, the firm earned $0.14 earnings per share.

A number of other brokerages have also commented on RWT. JMP Securities raised their price target on Redwood Trust from $8.50 to $9.00 and gave the company a "market outperform" rating in a report on Friday, October 4th. Raymond James raised their target price on shares of Redwood Trust from $8.50 to $9.50 and gave the company a "strong-buy" rating in a research note on Thursday, September 19th. StockNews.com lowered shares of Redwood Trust from a "hold" rating to a "sell" rating in a research note on Friday. Wells Fargo & Company raised their price objective on shares of Redwood Trust from $7.50 to $8.50 and gave the company an "equal weight" rating in a research note on Friday, September 20th. Finally, Piper Sandler upped their target price on Redwood Trust from $6.50 to $7.50 and gave the stock a "neutral" rating in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $8.19.

Redwood Trust Stock Performance

Redwood Trust stock traded down $0.04 during mid-day trading on Monday, hitting $7.23. 629,783 shares of the company's stock traded hands, compared to its average volume of 1,084,476. The company has a quick ratio of 50.47, a current ratio of 50.47 and a debt-to-equity ratio of 13.75. Redwood Trust has a one year low of $5.45 and a one year high of $8.15. The firm has a 50 day moving average price of $7.59 and a 200 day moving average price of $6.97. The company has a market cap of $955.95 million, a PE ratio of 13.15 and a beta of 1.59.

Institutional Investors Weigh In On Redwood Trust

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Redwood Trust by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 12,973,503 shares of the real estate investment trust's stock valued at $96,134,000 after purchasing an additional 78,222 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Redwood Trust by 9.8% during the first quarter. State of Alaska Department of Revenue now owns 80,107 shares of the real estate investment trust's stock valued at $510,000 after buying an additional 7,123 shares in the last quarter. Maryland State Retirement & Pension System boosted its holdings in shares of Redwood Trust by 9.9% in the first quarter. Maryland State Retirement & Pension System now owns 47,385 shares of the real estate investment trust's stock worth $302,000 after buying an additional 4,268 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of 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 worth $7,182,000 after acquiring an additional 127,143 shares in the last quarter. Finally, Mutual of America Capital Management LLC raised its holdings in shares of Redwood Trust by 9.1% during 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 acquiring an additional 1,889 shares during the period. 74.34% of the stock is owned by institutional investors.

Redwood Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were issued a $0.17 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $0.68 annualized dividend and a dividend yield of 9.41%. This is a boost from Redwood Trust's previous quarterly dividend of $0.16. Redwood Trust's dividend payout ratio is currently 123.64%.

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.