Redwood Trust (RWT) Releases Quarterly Earnings Results
Redwood Trust (NYSE:RWT) posted its quarterly earnings results on Thursday. The company reported $0.18 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.28 by $0.10, American Banking and Market News reports. During the same quarter last year, the company posted $0.71 earnings per share.
On a related note, analysts at Zacks upgraded shares of Redwood Trust from an “underperform” rating to a “neutral” rating in a research note on Wednesday. They now have a $19.60 price target on the stock. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Redwood Trust has an average rating of “Hold” and a consensus target price of $21.20.
Shares of Redwood Trust (NYSE:RWT) traded up 0.62% during mid-day trading on Thursday, hitting $19.43. The stock had a trading volume of 275,190 shares. Redwood Trust has a 52-week low of $16.66 and a 52-week high of $21.90. The stock has a 50-day moving average of $19. and a 200-day moving average of $19.74. The company has a market cap of $1.612 billion and a P/E ratio of 13.43.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 5.80%.
Redwood Trust, Inc, (NYSE:RWT) together with its subsidiaries, is an internally-managed operating company focused on engaging in residential and commercial mortgage banking activities and investing in mortgage- and other real estate-related assets.
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