Redwood Trust, Inc. (NYSE:RWT) Receives $7.66 Average Target Price from Analysts

Redwood Trust, Inc. (NYSE:RWT) has received a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $7.66.

A number of equities research analysts have recently commented on RWT shares. Raymond James cut their price objective on Redwood Trust from $9.00 to $8.50 and set a “strong-buy” rating for the company in a research report on Friday, January 19th. Wells Fargo & Company decreased their target price on shares of Redwood Trust from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 21st. UBS Group decreased their price objective on shares of Redwood Trust from $9.00 to $8.50 and set a “buy” rating for the company in a report on Tuesday, March 5th. JMP Securities restated a “market outperform” rating and issued a $8.00 price objective on shares of Redwood Trust in a research note on Thursday, April 18th. Finally, Keefe, Bruyette & Woods lowered their price target on Redwood Trust from $7.75 to $7.25 and set an “outperform” rating on the stock in a research note on Wednesday, April 10th.

Redwood Trust Trading Up 0.4 %

Shares of NYSE:RWT opened at $6.37 on Thursday. The company has a 50 day moving average of $6.04 and a 200-day moving average of $6.60. The company has a current ratio of 10.79, a quick ratio of 7.36 and a debt-to-equity ratio of 10.08. The firm has a market cap of $837.51 million, a P/E ratio of 90.93 and a beta of 1.50. Redwood Trust has a twelve month low of $5.45 and a twelve month high of $8.30.

Redwood Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 21st were given a dividend of $0.16 per share. The ex-dividend date was Wednesday, March 20th. This represents a $0.64 annualized dividend and a yield of 10.05%. Redwood Trust’s dividend payout ratio (DPR) is 914.29%.

Institutional Trading of Redwood Trust

A number of hedge funds and other institutional investors have recently modified their holdings of RWT. International Assets Investment Management LLC lifted its holdings in Redwood Trust by 641.0% in the fourth quarter. International Assets Investment Management LLC now owns 3,705 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 3,205 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Redwood Trust by 45.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,965 shares of the real estate investment trust’s stock worth $57,000 after purchasing an additional 2,498 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of Redwood Trust in the 3rd quarter valued at about $92,000. Sigma Planning Corp raised its stake in shares of Redwood Trust by 30.7% during the 3rd quarter. Sigma Planning Corp now owns 13,838 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 3,254 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Redwood Trust during the third quarter worth $101,000. Institutional investors and hedge funds own 74.34% of the company’s stock.

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.