Redwood Trust, Inc. (NYSE:RWT) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Tuesday.

Several other brokerages also recently commented on RWT. Zacks Investment Research raised shares of Redwood Trust from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Tuesday, May 9th. ValuEngine downgraded shares of Redwood Trust from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $16.75.

Redwood Trust (NYSE RWT) traded down 0.81% on Tuesday, hitting $17.05. 197,885 shares of the stock were exchanged. The company has a 50-day moving average price of $16.87 and a 200 day moving average price of $16.30. Redwood Trust has a 1-year low of $13.20 and a 1-year high of $17.43. The company has a market capitalization of $1.31 billion, a PE ratio of 9.69 and a beta of 0.90.

Redwood Trust (NYSE:RWT) last posted its quarterly earnings results on Thursday, May 4th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. The business had revenue of $62 million for the quarter, compared to analyst estimates of $34.89 million. Redwood Trust had a net margin of 48.45% and a return on equity of 13.22%. During the same quarter last year, the business posted $0.28 EPS. Analysts anticipate that Redwood Trust will post $1.48 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 16th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 6.57%. The ex-dividend date is Wednesday, June 14th. Redwood Trust’s payout ratio is currently 62.22%.

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In other Redwood Trust news, Director Karen R. Pallotta purchased 3,027 shares of the company’s stock in a transaction dated Monday, May 22nd. The stock was purchased at an average price of $16.53 per share, with a total value of $50,036.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Andrew P. Stone sold 3,730 shares of the firm’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $17.24, for a total transaction of $64,305.20. Following the transaction, the general counsel now directly owns 49,626 shares of the company’s stock, valued at approximately $855,552.24. The disclosure for this sale can be found here. 2.33% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Redwood Trust by 3.8% in the first quarter. Vanguard Group Inc. now owns 6,165,829 shares of the real estate investment trust’s stock valued at $102,414,000 after buying an additional 224,548 shares during the last quarter. State Street Corp increased its position in shares of Redwood Trust by 5.1% in the fourth quarter. State Street Corp now owns 1,537,847 shares of the real estate investment trust’s stock worth $23,392,000 after buying an additional 75,049 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Redwood Trust by 4.3% in the first quarter. Renaissance Technologies LLC now owns 1,397,000 shares of the real estate investment trust’s stock worth $23,204,000 after buying an additional 57,800 shares in the last quarter. UBS Group AG increased its position in shares of Redwood Trust by 33.8% in the first quarter. UBS Group AG now owns 1,062,183 shares of the real estate investment trust’s stock worth $17,643,000 after buying an additional 268,238 shares in the last quarter. Finally, Hilton Capital Management LLC increased its position in shares of Redwood Trust by 9.6% in the first quarter. Hilton Capital Management LLC now owns 1,013,108 shares of the real estate investment trust’s stock worth $16,828,000 after buying an additional 88,657 shares in the last quarter. 85.14% of the stock is owned by hedge funds and other institutional investors.

About Redwood Trust

Redwood Trust, Inc, through its subsidiaries, focuses on investing in mortgage and other real estate related assets. The Company is engaged in mortgage banking activities. The Company operates through three segments: Residential Investments, Residential Mortgage Banking and Commercial. The Residential Investments segment includes a portfolio of investments in residential mortgage-backed securities (RMBS) retained from its Sequoia securitizations.

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