Redwood Trust Inc. (RWT) Trading Up 2.7%
Shares of Redwood Trust Inc. (NYSE:RWT) were up 2.7% during trading on Tuesday . The stock traded as high as $13.98 and last traded at $13.98, with a volume of 309,410 shares. The stock had previously closed at $13.61.
Several analysts have recently commented on RWT shares. Zacks Investment Research downgraded Redwood Trust from a “buy” rating to a “hold” rating in a research note on Friday, August 26th. Maxim Group downgraded Redwood Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, August 10th. Finally, Keefe, Bruyette & Woods downgraded Redwood Trust from an “outperform” rating to a “market perform” rating and set a $14.50 price objective for the company. in a research note on Tuesday, July 19th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Redwood Trust currently has a consensus rating of “Hold” and a consensus price target of $15.55.
The firm has a market capitalization of $1.07 billion, a P/E ratio of 10.17 and a beta of 0.76. The company’s 50 day moving average price is $14.27 and its 200 day moving average price is $13.65.
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Redwood Trust (NYSE:RWT) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.10. Redwood Trust had a return on equity of 12.09% and a net margin of 41.54%. During the same quarter in the previous year, the business posted $0.31 EPS. On average, analysts anticipate that Redwood Trust Inc. will post $1.35 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be given a dividend of $0.28 per share. The ex-dividend date is Tuesday, September 13th. This represents a $1.12 annualized dividend and a yield of 8.03%. Redwood Trust’s payout ratio is 85.50%.
A number of hedge funds have recently bought and sold shares of RWT. Hilton Capital Management LLC purchased a new stake in Redwood Trust during the first quarter valued at $9,729,000. Norges Bank purchased a new stake in Redwood Trust during the fourth quarter valued at $9,758,000. Prudential Financial Inc. boosted its stake in Redwood Trust by 118.6% in the first quarter. Prudential Financial Inc. now owns 247,952 shares of the company’s stock valued at $3,243,000 after buying an additional 134,500 shares during the last quarter. First Trust Advisors LP purchased a new stake in Redwood Trust during the second quarter valued at $1,694,000. Finally, KBC Group NV boosted its stake in Redwood Trust by 1,381.2% in the second quarter. KBC Group NV now owns 120,571 shares of the company’s stock valued at $1,665,000 after buying an additional 112,431 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.
About Redwood Trust
Redwood Trust, Inc, together with its subsidiaries, focuses on investing in mortgage- and other real estate-related assets. The Company operates through three segments: residential mortgage banking, residential investments, and commercial mortgage banking and investments. Its residential mortgage banking segment consists of operating a mortgage loan conduit that acquires residential whole loans from third-party originators for subsequent sale, securitization or transfer to its investment portfolio.
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