Zacks: Brokerages Anticipate Redwood Trust, Inc. (RWT) Will Post Earnings of $0.34 Per Share
Wall Street brokerages forecast that Redwood Trust, Inc. (NYSE:RWT) will report earnings of $0.34 per share for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Redwood Trust’s earnings. Redwood Trust posted earnings per share of $0.33 in the same quarter last year, which suggests a positive year-over-year growth rate of 3%. The company is expected to report its next quarterly earnings report on Thursday, February 22nd.
On average, analysts expect that Redwood Trust will report full-year earnings of $1.39 per share for the current year. For the next year, analysts anticipate that the business will post earnings of $1.44 per share. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Redwood Trust.
Redwood Trust (NYSE:RWT) last announced its quarterly earnings results on Monday, November 6th. The real estate investment trust reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.04). The firm had revenue of $35.00 million for the quarter, compared to analysts’ expectations of $36.86 million. Redwood Trust had a return on equity of 9.87% and a net margin of 41.62%. Redwood Trust’s revenue was down 10.3% compared to the same quarter last year. During the same period last year, the firm earned $0.58 EPS.
In related news, General Counsel Andrew P. Stone sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $14.87, for a total value of $74,350.00. Following the sale, the general counsel now owns 53,015 shares of the company’s stock, valued at approximately $788,333.05. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.33% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Redwood Trust by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 6,303,530 shares of the real estate investment trust’s stock valued at $107,412,000 after buying an additional 137,701 shares in the last quarter. State Street Corp lifted its stake in shares of Redwood Trust by 6.2% during the 2nd quarter. State Street Corp now owns 1,611,297 shares of the real estate investment trust’s stock worth $27,454,000 after purchasing an additional 93,613 shares during the period. Seizert Capital Partners LLC lifted its stake in shares of Redwood Trust by 3.1% during the 3rd quarter. Seizert Capital Partners LLC now owns 1,496,235 shares of the real estate investment trust’s stock worth $24,374,000 after purchasing an additional 45,651 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Redwood Trust by 1.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,422,000 shares of the real estate investment trust’s stock worth $24,231,000 after purchasing an additional 25,000 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Redwood Trust by 2.5% during the 2nd quarter. Northern Trust Corp now owns 930,774 shares of the real estate investment trust’s stock worth $15,860,000 after purchasing an additional 22,723 shares during the period. 85.36% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Redwood Trust (RWT) traded up $0.04 during trading hours on Thursday, hitting $15.02. The stock had a trading volume of 234,912 shares, compared to its average volume of 353,360. The stock has a market cap of $1,150.00, a price-to-earnings ratio of 10.88 and a beta of 0.90. The company has a debt-to-equity ratio of 2.91, a current ratio of 3.36 and a quick ratio of 3.36. Redwood Trust has a fifty-two week low of $14.29 and a fifty-two week high of $17.45.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Friday, December 15th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 7.46%. The ex-dividend date of this dividend is Thursday, December 14th. Redwood Trust’s payout ratio is currently 81.16%.
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Redwood Trust Company Profile
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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