Redwood Trust (NYSE:RWT) Stock Rating Reaffirmed by Wedbush

Wedbush reissued their neutral rating on shares of Redwood Trust (NYSE:RWT) in a report issued on Wednesday, Benzinga reports. They currently have a $6.50 price objective on the real estate investment trust’s stock.

RWT has been the topic of several other reports. Keefe, Bruyette & Woods reduced 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. Raymond James lowered their target price on shares of Redwood Trust from $9.00 to $8.50 and set a strong-buy rating for the company in a report on Friday, January 19th. Piper Sandler reduced their price objective on Redwood Trust from $7.50 to $7.00 and set a neutral rating for the company in a research report on Wednesday, February 21st. Wells Fargo & Company cut their target price on Redwood Trust from $8.00 to $7.00 and set an equal weight rating on the stock in a research note on Wednesday, February 21st. Finally, JMP Securities reiterated a market outperform rating and issued a $8.00 price target on shares of Redwood Trust in a research note on Thursday, April 18th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $7.66.

Redwood Trust Price Performance

Shares of NYSE RWT opened at $6.35 on Wednesday. The company has a debt-to-equity ratio of 10.08, a current ratio of 10.79 and a quick ratio of 7.36. Redwood Trust has a 1 year low of $5.45 and a 1 year high of $8.30. The company’s 50-day moving average is $6.03 and its 200 day moving average is $6.61. The stock has a market capitalization of $835.53 million, a P/E ratio of 90.71 and a beta of 1.50.

Redwood Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 21st were issued a dividend of $0.16 per share. The ex-dividend date was Wednesday, March 20th. This represents a $0.64 annualized dividend and a dividend yield of 10.08%. Redwood Trust’s payout ratio is 914.29%.

Institutional Investors Weigh In On Redwood Trust

Large investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC lifted its stake in shares of Redwood Trust by 641.0% in the 4th quarter. International Assets Investment Management LLC now owns 3,705 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 3,205 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Redwood Trust by 45.7% in 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 during the period. Fox Run Management L.L.C. purchased a new position in Redwood Trust during the third quarter valued at $92,000. Sigma Planning Corp grew its holdings in Redwood Trust by 30.7% during the third quarter. Sigma Planning Corp now owns 13,838 shares of the real estate investment trust’s stock valued at $99,000 after purchasing an additional 3,254 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Redwood Trust in the third quarter worth about $101,000. Institutional investors own 74.34% of the company’s stock.

About Redwood Trust

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.