Redwood Trust, Inc. to Post FY2024 Earnings of $0.50 Per Share, Wedbush Forecasts (NYSE:RWT)

Redwood Trust, Inc. (NYSE:RWT) – Wedbush lowered their FY2024 earnings per share (EPS) estimates for Redwood Trust in a research note issued on Thursday, April 11th. Wedbush analyst J. Mccanless now anticipates that the real estate investment trust will earn $0.50 per share for the year, down from their prior forecast of $0.55. Wedbush has a “Neutral” rating and a $6.50 price objective on the stock. The consensus estimate for Redwood Trust’s current full-year earnings is $0.48 per share.

A number of other equities analysts have also issued reports on the company. Wells Fargo & Company reduced their target price on Redwood Trust from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 21st. Keefe, Bruyette & Woods reduced their target price on Redwood Trust from $7.75 to $7.25 and set an “outperform” rating for the company in a research note on Wednesday, April 10th. UBS Group reduced their target price on Redwood Trust from $9.00 to $8.50 and set a “buy” rating for the company in a research note on Tuesday, March 5th. JMP Securities reaffirmed a “market outperform” rating and set a $8.00 price target on shares of Redwood Trust in a research report on Wednesday, April 10th. Finally, Piper Sandler cut their price target on Redwood Trust from $7.50 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 21st. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.64.

Redwood Trust Stock Down 1.7 %

Redwood Trust stock opened at $5.73 on Monday. The business has a fifty day moving average of $6.25 and a two-hundred day moving average of $6.74. The company has a quick ratio of 7.36, a current ratio of 7.36 and a debt-to-equity ratio of 10.12. The firm has a market cap of $753.95 million, a P/E ratio of -47.75 and a beta of 1.48. Redwood Trust has a twelve month low of $5.47 and a twelve month high of $8.30.

Redwood Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 21st were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 11.17%. The ex-dividend date was Wednesday, March 20th. Redwood Trust’s dividend payout ratio (DPR) is presently -533.33%.

Institutional Investors Weigh In On Redwood Trust

A number of institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC boosted its holdings in Redwood Trust by 641.0% in the 4th quarter. International Assets Investment Management LLC now owns 3,705 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 3,205 shares during the last quarter. Quarry LP boosted its holdings in Redwood Trust by 736.7% in the 1st quarter. Quarry LP now owns 5,614 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 4,943 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Redwood Trust by 71.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,683 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 2,796 shares during the last quarter. O Dell Group LLC acquired a new stake in Redwood Trust in the 4th quarter worth about $44,000. Finally, Metropolitan Life Insurance Co NY boosted its holdings in Redwood Trust by 29.6% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 7,213 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 1,649 shares during the last quarter. 74.34% of the stock is currently owned by institutional investors and hedge funds.

Redwood Trust Company Profile

Redwood Trust, Inc, together with its subsidiaries, operates as a specialty finance company in the United States. The company operates through three segments: Residential Consumer Mortgage Banking, Residential Investor Mortgage Banking, and Investment Portfolio. The Residential Consumer Mortgage Banking segment operates a mortgage loan conduit that acquires residential loans from third-party originators for subsequent sale, securitization, or transfer to its investment portfolio.