Redwood Trust, Inc. (NYSE:RWT - Get Free Report) reached a new 52-week low during trading on Thursday . The company traded as low as $4.68 and last traded at $5.42, with a volume of 3818901 shares changing hands. The stock had previously closed at $4.95.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on RWT shares. JMP Securities reiterated a "market outperform" rating and set a $8.00 price target on shares of Redwood Trust in a research report on Friday, February 14th. JPMorgan Chase & Co. dropped their target price on shares of Redwood Trust from $7.00 to $6.50 and set a "neutral" rating for the company in a report on Tuesday, January 21st. Finally, StockNews.com upgraded Redwood Trust from a "sell" rating to a "hold" rating in a research note on Wednesday, March 5th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $7.83.
View Our Latest Stock Analysis on Redwood Trust
Redwood Trust Stock Up 2.2 %
The business has a 50-day simple moving average of $6.15 and a 200-day simple moving average of $6.69. The company has a debt-to-equity ratio of 14.09, a quick ratio of 44.36 and a current ratio of 44.36. The company has a market cap of $710.79 million, a price-to-earnings ratio of 16.20 and a beta of 1.15.
Redwood Trust (NYSE:RWT - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.03). Redwood Trust had a return on equity of 6.91% and a net margin of 9.35%. The firm had revenue of $27.60 million during the quarter, compared to analysts' expectations of $26.00 million. On average, equities analysts anticipate that Redwood Trust, Inc. will post 0.78 earnings per share for the current fiscal year.
Redwood Trust Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 24th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 13.47%. The ex-dividend date of this dividend was Monday, March 24th. Redwood Trust's dividend payout ratio (DPR) is 218.18%.
Institutional Investors Weigh In On Redwood Trust
Several institutional investors have recently added to or reduced their stakes in RWT. State Street Corp lifted its position in shares of Redwood Trust by 2.0% during the 3rd quarter. State Street Corp now owns 5,189,667 shares of the real estate investment trust's stock worth $40,116,000 after buying an additional 102,274 shares during the last quarter. Principal Financial Group Inc. lifted its position in Redwood Trust by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 641,410 shares of the real estate investment trust's stock valued at $4,188,000 after acquiring an additional 18,164 shares during the last quarter. Franklin Resources Inc. boosted its stake in Redwood Trust by 4.6% in the third quarter. Franklin Resources Inc. now owns 72,486 shares of the real estate investment trust's stock valued at $548,000 after acquiring an additional 3,206 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Redwood Trust by 18.0% during the fourth quarter. Van ECK Associates Corp now owns 1,085,593 shares of the real estate investment trust's stock worth $7,089,000 after purchasing an additional 165,281 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Redwood Trust by 0.8% during the third quarter. Geode Capital Management LLC now owns 3,038,438 shares of the real estate investment trust's stock worth $23,492,000 after purchasing an additional 25,444 shares in the last quarter. Hedge funds and other institutional investors own 74.34% of the company's stock.
About Redwood Trust
(
Get Free Report)
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.
Further Reading
Before you consider Redwood Trust, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Redwood Trust wasn't on the list.
While Redwood Trust currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
