Redwood Trust Receives Average Rating of “Hold” from Analysts (NYSE:RWT)
Redwood Trust (NYSE:RWT) has been given a consensus recommendation of “Hold” by the eight ratings firms that are covering the company, StockRatingsNetwork reports. Five analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $21.53.
In other Redwood Trust news, Director Mariann H. Byerwalter sold 2,172 shares of the stock on the open market in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $19.17, for a total transaction of $41,637.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on RWT. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Redwood Trust in a research note on Monday, August 11th. They now have a $22.50 price target on the stock, down previously from $22.75. 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.
Shares of Redwood Trust (NYSE:RWT) opened at 19.38 on Tuesday. Redwood Trust has a 1-year low of $17.00 and a 1-year high of $21.90. The stock has a 50-day moving average of $19.32 and a 200-day moving average of $19.78. The company has a market cap of $1.611 billion and a price-to-earnings ratio of 21.92.
Redwood Trust (NYSE:RWT) last announced its earnings results 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 $0.94 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 30th. Investors 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 5.78%. The ex-dividend date of this dividend is Thursday, September 11th.
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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