Redwood Trust, Inc. Announces Quarterly Dividend of $0.16 (NYSE:RWT)

Redwood Trust, Inc. (NYSE:RWT - Get Free Report) announced a quarterly dividend on Tuesday, June 11th, RTT News reports. Stockholders of record on Friday, June 21st will be paid a dividend of 0.16 per share by the real estate investment trust on Friday, June 28th. This represents a $0.64 annualized dividend and a dividend yield of 10.21%.

Redwood Trust has a dividend payout ratio of 84.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Equities analysts expect Redwood Trust to earn $0.70 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 91.4%.

Redwood Trust Price Performance

NYSE RWT traded down $0.01 on Tuesday, hitting $6.27. 718,017 shares of the company were exchanged, compared to its average volume of 1,284,101. The company has a current ratio of 9.09, a quick ratio of 9.09 and a debt-to-equity ratio of 10.66. The company has a market cap of $828.58 million, a P/E ratio of 89.57 and a beta of 1.56. Redwood Trust has a 1-year low of $5.45 and a 1-year high of $8.30. The firm has a 50 day moving average of $6.16 and a two-hundred day moving average of $6.54.

Insider Transactions at Redwood Trust

In other Redwood Trust news, CFO Brooke Carillo acquired 15,000 shares of the firm's stock in a transaction that occurred on Thursday, May 30th. The stock was acquired at an average cost of $6.25 per share, for a total transaction of $93,750.00. Following the transaction, the chief financial officer now owns 56,772 shares of the company's stock, valued at $354,825. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

RWT has been the topic of a number of recent research reports. Piper Sandler decreased their price objective on Redwood Trust from $7.50 to $7.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 21st. Keefe, Bruyette & Woods lowered their price target on shares of Redwood Trust from $7.75 to $7.25 and set an "outperform" rating for the company in a research report on Wednesday, April 10th. Wells Fargo & Company reduced their price objective on shares of Redwood Trust from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 21st. Wedbush reiterated a "neutral" rating and set a $6.50 target price on shares of Redwood Trust in a research report on Wednesday, May 1st. Finally, JMP Securities restated a "market outperform" rating and issued a $8.00 price target on shares of Redwood Trust in a research report on Thursday, April 18th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Redwood Trust has a consensus rating of "Moderate Buy" and an average target price of $7.66.

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.