Redwood Trust, Inc. (NYSE:RWT) Receives $8.19 Average PT from Brokerages

Shares of Redwood Trust, Inc. (NYSE:RWT - Get Free Report) have been given an average recommendation of "Moderate Buy" by the nine research firms that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $8.19.

RWT has been the topic of several research analyst reports. Wedbush increased their price target on shares of Redwood Trust from $6.50 to $7.00 and gave the stock a "neutral" rating in a research report on Friday, August 2nd. JMP Securities lifted their target price on Redwood Trust from $8.50 to $9.00 and gave the stock a "market outperform" rating in a report on Friday, October 4th. Wells Fargo & Company boosted their target price on Redwood Trust from $7.50 to $8.50 and gave the stock an "equal weight" rating in a research report on Friday, September 20th. Piper Sandler upped their target price on Redwood Trust from $6.50 to $7.50 and gave the company a "neutral" rating in a report on Monday, August 5th. Finally, Raymond James upped their target price on Redwood Trust from $8.50 to $9.50 and gave the stock a "strong-buy" rating in a research report on Thursday, September 19th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Redwood Trust by 19.5% during the 1st quarter. Vanguard Group Inc. now owns 15,504,440 shares of the real estate investment trust's stock worth $98,763,000 after buying an additional 2,530,937 shares during the last quarter. Ceredex Value Advisors LLC grew its holdings in shares of Redwood Trust by 48.8% during the 2nd quarter. Ceredex Value Advisors LLC now owns 906,512 shares of the real estate investment trust's stock valued at $5,883,000 after purchasing an additional 297,100 shares during the last quarter. Van ECK Associates Corp lifted its stake in Redwood Trust by 21.7% in the 2nd quarter. Van ECK Associates Corp now owns 976,283 shares of the real estate investment trust's stock valued at $6,336,000 after purchasing an additional 174,317 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Redwood Trust by 13.0% during 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 buying an additional 127,143 shares during the last quarter. Finally, Wulff Hansen & CO. raised its position in Redwood Trust by 549.0% in the second quarter. Wulff Hansen & CO. now owns 128,463 shares of the real estate investment trust's stock valued at $834,000 after purchasing an additional 108,669 shares during the last quarter. 74.34% of the stock is owned by institutional investors.

Redwood Trust Stock Performance

Shares of NYSE RWT traded up $0.12 during midday trading on Thursday, reaching $7.60. 556,537 shares of the company were exchanged, compared to its average volume of 1,092,260. The company has a current ratio of 50.47, a quick ratio of 50.47 and a debt-to-equity ratio of 12.97. The stock has a market cap of $1.00 billion, a P/E ratio of 44.12 and a beta of 1.58. Redwood Trust has a 1 year low of $5.45 and a 1 year high of $8.15. The stock has a fifty day simple moving average of $7.55 and a 200 day simple moving average of $6.87.

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, beating the consensus estimate of $0.12 by $0.01. Redwood Trust had a return on equity of 4.93% and a net margin of 4.45%. During the same period in the prior year, the company earned $0.14 EPS. On average, research analysts forecast that Redwood Trust will post 0.52 earnings per share for the current fiscal year.

Redwood Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were issued a $0.17 dividend. This is an increase from Redwood Trust's previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 8.95%. The ex-dividend date was Monday, September 23rd. Redwood Trust's payout ratio is currently 400.00%.

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.