Redwood Trust, Inc. (NYSE:RWT) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS
Redwood Trust, Inc. (NYSE:RWT) issued its quarterly earnings data on Thursday. The real estate investment trust reported $0.35 EPS for the quarter, missing the consensus estimate of $0.37 by $0.02, Bloomberg Earnings reports. The company had revenue of $60 million during the quarter, compared to analysts’ expectations of $33.59 million. Redwood Trust had a return on equity of 12.10% and a net margin of 46.04%. During the same period last year, the company earned $0.48 earnings per share.
Shares of Redwood Trust (NYSE RWT) traded down 1.50% during mid-day trading on Friday, hitting $17.05. The company had a trading volume of 188,742 shares. The firm has a 50-day moving average price of $17.13 and a 200-day moving average price of $16.66. The firm has a market capitalization of $1.31 billion, a PE ratio of 9.69 and a beta of 0.89. Redwood Trust has a 52 week low of $13.22 and a 52 week high of $17.45.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 6.57%. The ex-dividend date is Thursday, September 14th. Redwood Trust’s dividend payout ratio (DPR) is presently 64.00%.
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Several brokerages have recently commented on RWT. BidaskClub raised Redwood Trust from a “hold” rating to a “buy” rating in a research note on Friday. ValuEngine downgraded Redwood Trust from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Finally, Zacks Investment Research raised Redwood Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th.
In other news, Director Karen R. Pallotta acquired 3,027 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The stock was bought at an average cost of $16.53 per share, for a total transaction of $50,036.31. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.33% of the stock is owned by insiders.
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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