Redwood Trust Inc. (RWT) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Redwood Trust Inc. (NYSE:RWT) have earned an average recommendation of “Hold” from the seven ratings firms that are currently covering the company. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $15.58.
RWT has been the subject of several research reports. Zacks Investment Research raised Redwood Trust from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Tuesday, October 4th. Maxim Group downgraded Redwood Trust from a “buy” rating to a “hold” rating in a report 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 target price for the company. in a report on Tuesday, July 19th.
Institutional investors have recently added to or reduced their stakes in the company. Hilton Capital Management LLC boosted its position in Redwood Trust by 3.9% in the second quarter. Hilton Capital Management LLC now owns 772,682 shares of the company’s stock valued at $10,671,000 after buying an additional 28,886 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in Redwood Trust by 4.4% in the first quarter. TIAA CREF Investment Management LLC now owns 304,394 shares of the company’s stock valued at $3,981,000 after buying an additional 12,746 shares during the last quarter. Prudential Financial Inc. boosted its position 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. Bayesian Capital Management LP acquired a new position in Redwood Trust during the first quarter valued at about $239,000. Finally, Virginia Retirement System acquired a new position in Redwood Trust during the first quarter valued at about $294,000. Institutional investors own 86.94% of the company’s stock.
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Redwood Trust (NYSE:RWT) traded up 0.58% during trading on Monday, hitting $13.86. The stock had a trading volume of 40,883 shares. Redwood Trust has a 12-month low of $9.26 and a 12-month high of $15.24. The stock’s 50 day moving average price is $13.99 and its 200 day moving average price is $13.81. The firm has a market cap of $1.07 billion, a P/E ratio of 10.10 and a beta of 0.71.
Redwood Trust (NYSE:RWT) last posted its earnings results 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 period in the prior year, the company posted $0.31 earnings per share. On average, analysts anticipate that Redwood Trust will post $1.35 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 8.13%. The ex-dividend date was Tuesday, September 13th. Redwood Trust’s payout ratio is 85.50%.
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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