Deutsche Bank Reiterates “Buy” Rating for Redwood Trust (RWT)
Redwood Trust (NYSE:RWT)‘s stock had its “buy” rating reiterated by equities research analysts at Deutsche Bank in a research note issued to investors on Monday. They currently have a $22.50 target price on the stock, down from their previous target price of $22.75. Deutsche Bank’s target price indicates a potential upside of 17.00% from the company’s current price.
Shares of Redwood Trust (NYSE:RWT) traded up 0.68% during mid-day trading on Monday, hitting $19.36. The stock had a trading volume of 132,122 shares. Redwood Trust has a 52-week low of $16.66 and a 52-week high of $21.90. The stock’s 50-day moving average is $19.46 and its 200-day moving average is $19.74. The company has a market cap of $1.608 billion and a P/E ratio of 21.51.
Redwood Trust (NYSE:RWT) last announced its earnings data on Thursday, August 7th. The company reported $0.18 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.28 by $0.10. During the same quarter last year, the company posted $0.71 earnings per share. Analysts expect that Redwood Trust will post $1.13 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 5.82%. The ex-dividend date of this dividend is Thursday, September 11th.
Separately, analysts at Zacks upgraded shares of Redwood Trust from an “underperform” rating to a “neutral” rating in a research note on Wednesday, August 6th. They now have a $19.60 price target on the stock. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Redwood Trust currently has an average rating of “Hold” and an average target price of $21.53.
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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