Redwood Trust, Inc. (NYSE:RWT) Receives $6.89 Consensus Target Price from Analysts

Shares of Redwood Trust, Inc. (NYSE:RWT) have been given a consensus recommendation of “Hold” by the ten brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $6.8929.

Several equities research analysts have recently weighed in on the stock. Piper Sandler increased their target price on shares of Redwood Trust from $6.00 to $6.50 and gave the company a “neutral” rating in a research note on Thursday, April 30th. JonesTrading reissued a “buy” rating and issued a $6.25 target price on shares of Redwood Trust in a research note on Thursday, April 30th. Zacks Research downgraded shares of Redwood Trust from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Keefe, Bruyette & Woods increased their target price on shares of Redwood Trust from $5.75 to $7.00 and gave the company a “market perform” rating in a research note on Wednesday, February 18th. Finally, Citigroup reissued a “market perform” rating on shares of Redwood Trust in a research note on Wednesday, February 18th.

Institutional Trading of Redwood Trust

A number of large investors have recently made changes to their positions in the stock. UBS Group AG raised its holdings in shares of Redwood Trust by 521.1% in the fourth quarter. UBS Group AG now owns 3,875,226 shares of the real estate investment trust’s stock valued at $21,430,000 after acquiring an additional 3,251,302 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Redwood Trust by 10.2% in the 3rd quarter. Wellington Management Group LLP now owns 15,020,483 shares of the real estate investment trust’s stock valued at $86,969,000 after buying an additional 1,395,675 shares in the last quarter. Evergreen Capital Management LLC boosted its holdings in shares of Redwood Trust by 52.8% in the 4th quarter. Evergreen Capital Management LLC now owns 1,674,009 shares of the real estate investment trust’s stock valued at $9,257,000 after buying an additional 578,301 shares in the last quarter. Tran Capital Management L.P. bought a new stake in shares of Redwood Trust in the 4th quarter valued at about $2,947,000. Finally, Invesco Ltd. boosted its holdings in shares of Redwood Trust by 25.4% in the 4th quarter. Invesco Ltd. now owns 2,551,067 shares of the real estate investment trust’s stock valued at $14,107,000 after buying an additional 516,630 shares in the last quarter. 74.34% of the stock is owned by hedge funds and other institutional investors.

Redwood Trust Trading Up 0.7%

Shares of RWT opened at $5.38 on Friday. Redwood Trust has a twelve month low of $5.00 and a twelve month high of $6.97. The company has a market cap of $673.06 million, a P/E ratio of -6.89 and a beta of 1.40. The company has a current ratio of 59.63, a quick ratio of 59.63 and a debt-to-equity ratio of 28.42. The company’s fifty day simple moving average is $5.58 and its 200-day simple moving average is $5.65.

Redwood Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 13.4%. The ex-dividend date of this dividend was Tuesday, March 24th. Redwood Trust’s payout ratio is currently -92.31%.

About Redwood Trust

Redwood Trust, Inc (NYSE:RWT) is a publicly traded real estate investment trust specializing in the U.S. residential mortgage market. Headquartered in Mill Valley, California, the company focuses on investing in a diversified portfolio of residential mortgage assets, including whole loans, agency and non-agency mortgage-backed securities, and structured credit products.

The company’s core activities encompass the acquisition, financing, and management of prime residential mortgage whole loans and mortgage-backed securities.