Redwood Trust, Inc. (NYSE:RWT) Receives Consensus Rating of “Moderate Buy” from Brokerages

Redwood Trust, Inc. (NYSE:RWT) has received a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $6.9583.

A number of equities research analysts have commented on the company. JonesTrading restated a “buy” rating and issued a $6.25 target price on shares of Redwood Trust in a research report on Tuesday, March 3rd. Keefe, Bruyette & Woods increased their price target on Redwood Trust from $5.75 to $7.00 and gave the stock a “market perform” rating in a report on Wednesday, February 18th. Citigroup reissued a “market perform” rating on shares of Redwood Trust in a research report on Wednesday, February 18th. Weiss Ratings restated a “sell (d)” rating on shares of Redwood Trust in a report on Thursday, January 22nd. Finally, Zacks Research raised shares of Redwood Trust from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th.

Redwood Trust Stock Up 0.4%

RWT stock opened at $5.64 on Thursday. The firm has a market cap of $704.31 million, a PE ratio of -9.24 and a beta of 1.55. The company has a debt-to-equity ratio of 24.34, a quick ratio of 55.15 and a current ratio of 55.15. The firm’s 50 day moving average price is $5.85 and its 200-day moving average price is $5.67. Redwood Trust has a one year low of $4.68 and a one year high of $6.97.

Redwood Trust (NYSE:RWT) last issued its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.02). The business had revenue of $140.33 million during the quarter, compared to analysts’ expectations of $24.88 million. Redwood Trust had a positive return on equity of 12.00% and a negative net margin of 5.93%. On average, equities research analysts anticipate that Redwood Trust will post 0.78 EPS for the current year.

Redwood Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 12.8%. The ex-dividend date of this dividend was Tuesday, March 24th. Redwood Trust’s payout ratio is -118.03%.

Hedge Funds Weigh In On Redwood Trust

Hedge funds have recently made changes to their positions in the stock. LSV Asset Management lifted its stake in Redwood Trust by 11.6% during the third quarter. LSV Asset Management now owns 1,978,325 shares of the real estate investment trust’s stock worth $11,455,000 after purchasing an additional 205,980 shares in the last quarter. North Ground Capital acquired a new stake in Redwood Trust in the 3rd quarter valued at about $550,000. FJ Capital Management LLC purchased a new position in shares of Redwood Trust in the 2nd quarter valued at about $549,000. Alpine Global Management LLC acquired a new position in shares of Redwood Trust during the third quarter worth about $290,000. Finally, Intech Investment Management LLC increased its stake in shares of Redwood Trust by 3.2% during the third quarter. Intech Investment Management LLC now owns 156,067 shares of the real estate investment trust’s stock worth $904,000 after buying an additional 4,797 shares during the period. Hedge funds and other institutional investors own 74.34% of the company’s stock.

Redwood Trust Company Profile

Redwood Trust, Inc (NYSE:RWT) is a publicly traded real estate investment trust specializing in the U.S. residential mortgage market. Headquartered in Mill Valley, California, the company focuses on investing in a diversified portfolio of residential mortgage assets, including whole loans, agency and non-agency mortgage-backed securities, and structured credit products.

The company’s core activities encompass the acquisition, financing, and management of prime residential mortgage whole loans and mortgage-backed securities.