Redwood Trust (RWT) Scheduled to Post Quarterly Earnings on Wednesday

Redwood Trust (NYSE:RWT - Get Free Report) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, October 30th. Analysts expect the company to announce earnings of $0.13 per share for the quarter. Parties that wish to listen to the company's conference call can do so using this link.

Redwood Trust (NYSE:RWT - Get Free Report) last posted its earnings results on Thursday, August 1st. The real estate investment trust reported $0.13 earnings per share for the quarter, topping 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 last year, the company posted $0.14 earnings per share. On average, analysts expect Redwood Trust to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Redwood Trust Stock Performance

NYSE RWT traded up $0.03 during trading on Wednesday, hitting $7.47. The company's stock had a trading volume of 560,941 shares, compared to its average volume of 1,094,874. The company has a quick ratio of 50.47, a current ratio of 50.47 and a debt-to-equity ratio of 12.97. The firm has a 50 day moving average price of $7.54 and a 200 day moving average price of $6.87. The firm has a market cap of $987.68 million, a P/E ratio of 43.74 and a beta of 1.58. Redwood Trust has a 52 week low of $5.45 and a 52 week high of $8.15.

Redwood Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were given 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 yield of 9.10%. The ex-dividend date of this dividend was Monday, September 23rd. Redwood Trust's payout ratio is currently 400.00%.

Wall Street Analyst Weigh In

Several brokerages have commented on RWT. Wells Fargo & Company lifted their price target 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 lifted their price target on Redwood Trust from $6.50 to $7.50 and gave the stock a "neutral" rating in a research report on Monday, August 5th. Wedbush boosted their price objective on Redwood Trust from $6.50 to $7.00 and gave the company a "neutral" rating in a research report on Friday, August 2nd. Raymond James upped their target price on Redwood Trust from $8.50 to $9.50 and gave the company a "strong-buy" rating in a research note on Thursday, September 19th. Finally, JPMorgan Chase & Co. upped their target price on Redwood Trust from $7.50 to $8.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $8.19.

Redwood Trust Company Profile

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.