Redwood Trust, Inc. (NYSE:RWT - Get Free Report)'s share price reached a new 52-week low during trading on Friday . The stock traded as low as $5.43 and last traded at $5.40, with a volume of 877285 shares changing hands. The stock had previously closed at $5.88.
Analyst Ratings Changes
Several analysts have recently weighed in on RWT shares. StockNews.com upgraded shares of Redwood Trust from a "sell" rating to a "hold" rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. lowered their price objective on Redwood Trust from $7.00 to $6.50 and set a "neutral" rating on the stock in a research note on Tuesday, January 21st. Finally, JMP Securities restated a "market outperform" rating and set a $8.00 target price on shares of Redwood Trust in a research report on Friday, February 14th. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $7.75.
Read Our Latest Stock Report on Redwood Trust
Redwood Trust Stock Up 9.5 %
The company has a current ratio of 44.36, a quick ratio of 44.36 and a debt-to-equity ratio of 14.09. The stock has a market cap of $720.77 million, a price-to-earnings ratio of 16.42 and a beta of 1.15. The business's fifty day simple moving average is $6.28 and its 200 day simple moving average is $6.78.
Redwood Trust (NYSE:RWT - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $27.60 million for the quarter, compared to analyst estimates of $26.00 million. Redwood Trust had a net margin of 9.35% and a return on equity of 6.91%. Equities analysts forecast 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 $0.18 dividend. The ex-dividend date was Monday, March 24th. This represents a $0.72 annualized dividend and a dividend yield of 13.28%. Redwood Trust's dividend payout ratio (DPR) is currently 218.18%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets lifted its position in Redwood Trust by 7.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 28,909 shares of the real estate investment trust's stock valued at $223,000 after acquiring an additional 1,932 shares in the last quarter. Illinois Municipal Retirement Fund boosted its position in shares of Redwood Trust by 3.4% during the fourth quarter. Illinois Municipal Retirement Fund now owns 72,744 shares of the real estate investment trust's stock worth $475,000 after buying an additional 2,383 shares during the period. Focus Partners Wealth boosted its position in shares of Redwood Trust by 14.1% during the fourth quarter. Focus Partners Wealth now owns 20,164 shares of the real estate investment trust's stock worth $132,000 after buying an additional 2,488 shares during the period. Franklin Resources Inc. grew its holdings in shares of Redwood Trust by 4.6% during the third quarter. Franklin Resources Inc. now owns 72,486 shares of the real estate investment trust's stock worth $548,000 after buying an additional 3,206 shares in the last quarter. Finally, KBC Group NV raised its position in Redwood Trust by 86.7% in the 4th quarter. KBC Group NV now owns 10,313 shares of the real estate investment trust's stock valued at $67,000 after buying an additional 4,788 shares during the last quarter. Institutional investors and hedge funds 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.
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