Analysts Set Redwood Trust, Inc. (NYSE:RWT) Target Price at $6.11

Shares of Redwood Trust, Inc. (NYSE:RWT) have earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $6.1071.

Several equities analysts have recently commented on the company. Weiss Ratings restated a “sell (d)” rating on shares of Redwood Trust in a research note on Wednesday, June 24th. Zacks Research lowered shares of Redwood Trust from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Piper Sandler dropped their target price on shares of Redwood Trust from $6.50 to $5.50 and set a “neutral” rating on the stock in a report on Thursday, July 2nd. Wall Street Zen raised shares of Redwood Trust from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, JonesTrading restated a “buy” rating and issued a $6.25 price target on shares of Redwood Trust in a report on Thursday, April 30th.

Hedge Funds Weigh In On Redwood Trust

A number of large investors have recently bought and sold shares of RWT. Clearstead Advisors LLC boosted its position in Redwood Trust by 192.5% during the 4th quarter. Clearstead Advisors LLC now owns 5,428 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 3,572 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Redwood Trust by 331.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 7,915 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 6,082 shares in the last quarter. Westbourne Investments Inc. bought a new position in shares of Redwood Trust in the 4th quarter worth $55,000. Bank of Marin purchased a new stake in shares of Redwood Trust during the 4th quarter worth $58,000. Finally, Abel Hall LLC purchased a new stake in shares of Redwood Trust during the 4th quarter worth $58,000. Institutional investors own 74.34% of the company’s stock.

Redwood Trust Trading Up 0.5%

RWT opened at $5.09 on Friday. The company has a quick ratio of 59.63, a current ratio of 59.63 and a debt-to-equity ratio of 28.42. The stock’s fifty day moving average is $5.12 and its two-hundred day moving average is $5.55. The company has a market capitalization of $638.00 million, a P/E ratio of -6.53 and a beta of 1.37. Redwood Trust has a 52 week low of $4.19 and a 52 week high of $6.97.

Redwood Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were paid a dividend of $0.18 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 14.1%. Redwood Trust’s dividend payout ratio (DPR) is currently -92.31%.

About Redwood Trust

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.