Redwood Trust (NYSE:RWT) Hits New 52-Week Low at $5.46

Redwood Trust, Inc. (NYSE:RWT) hit a new 52-week low during trading on Tuesday . The stock traded as low as $5.46 and last traded at $5.46, with a volume of 112123 shares. The stock had previously closed at $5.59.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Raymond James cut their target price on Redwood Trust from $9.00 to $8.50 and set a “strong-buy” rating for the company in a research note on Friday, January 19th. UBS Group cut 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. Keefe, Bruyette & Woods cut 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. Wedbush cut Redwood Trust from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $8.00 to $6.50 in a report on Thursday, April 11th. Finally, Piper Sandler lowered their price target on Redwood Trust from $7.50 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, February 21st. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $7.64.

Redwood Trust Stock Performance

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 fifty day simple moving average of $6.19 and a two-hundred day simple moving average of $6.71.

Redwood Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 21st were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 11.60%. Redwood Trust’s dividend payout ratio is -533.33%.

Hedge Funds Weigh In On Redwood Trust

A number of large investors have recently modified their holdings of RWT. Wellington Management Group LLP raised its holdings in shares of Redwood Trust by 164.4% during the 4th quarter. Wellington Management Group LLP now owns 11,314,715 shares of the real estate investment trust’s stock valued at $83,842,000 after buying an additional 7,035,524 shares in the last quarter. Mesirow Institutional Investment Management Inc. purchased a new position in shares of Redwood Trust during the 4th quarter valued at about $13,246,000. Boston Partners purchased a new position in shares of Redwood Trust during the 3rd quarter valued at about $12,015,000. Norges Bank purchased a new position in shares of Redwood Trust during the 4th quarter valued at about $7,534,000. Finally, Millennium Management LLC raised its holdings in shares of Redwood Trust by 544.7% during the 4th quarter. Millennium Management LLC now owns 1,187,981 shares of the real estate investment trust’s stock valued at $8,031,000 after buying an additional 1,003,705 shares in the last quarter. 74.34% of the stock is owned by hedge funds and other institutional investors.

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.