Redwood Trust, Inc. (NYSE:RWT) declared a quarterly dividend on Thursday, November 7th, RTT News reports. Stockholders of record on Monday, December 16th will be given a dividend of 0.30 per share by the real estate investment trust on Monday, December 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.35%.
Redwood Trust stock traded up $0.03 during trading on Thursday, reaching $16.32. The company had a trading volume of 524,664 shares, compared to its average volume of 922,452. Redwood Trust has a 12-month low of $14.29 and a 12-month high of $17.28. The stock’s 50 day moving average price is $16.58 and its two-hundred day moving average price is $16.51. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 9.17 and a beta of 0.60. The company has a debt-to-equity ratio of 6.33, a quick ratio of 4.41 and a current ratio of 6.67.
Redwood Trust (NYSE:RWT) last released its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). Redwood Trust had a net margin of 19.44% and a return on equity of 10.37%. The company had revenue of $34.00 million during the quarter, compared to analysts’ expectations of $44.50 million. During the same quarter in the previous year, the firm posted $0.39 earnings per share. As a group, research analysts expect that Redwood Trust will post 1.51 earnings per share for the current year.
RWT has been the subject of a number of recent analyst reports. ValuEngine upgraded shares of Redwood Trust from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Nomura boosted their target price on shares of Redwood Trust from $17.50 to $18.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Finally, Zacks Investment Research downgraded shares of Redwood Trust from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $18.25.
About Redwood Trust
Redwood Trust, Inc, together with its subsidiaries, operates as a specialty finance company in the United States. The company operates through two segments, Investment Portfolio and Residential Mortgage Banking. The Investment Portfolio segment offers a portfolio of investments in residential mortgage-backed securities retained from Sequoia securitizations, as well as issued by third parties and other credit risk-related investments; and invests directly in residential mortgage loans.
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