Redwood Trust, Inc. (NYSE:RWT) Given Consensus Rating of “Hold” by Analysts

Redwood Trust, Inc. (NYSE:RWT) has been given a consensus recommendation of “Hold” by the ten analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $6.8929.

Several research analysts have recently issued reports on the stock. JonesTrading reiterated a “buy” rating and set a $6.25 price target on shares of Redwood Trust in a report on Thursday, April 30th. Citigroup reiterated a “market perform” rating on shares of Redwood Trust in a report on Wednesday, February 18th. Piper Sandler upped their price target on shares of Redwood Trust from $6.00 to $6.50 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Wall Street Zen raised shares of Redwood Trust from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Zacks Research cut shares of Redwood Trust from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th.

Redwood Trust Stock Down 0.3%

Shares of NYSE:RWT opened at $5.24 on Tuesday. The company has a fifty day moving average of $5.51 and a 200-day moving average of $5.66. The company has a market capitalization of $655.53 million, a PE ratio of -6.71 and a beta of 1.37. The company has a debt-to-equity ratio of 28.42, a quick ratio of 59.63 and a current ratio of 59.63. Redwood Trust has a 52-week low of $5.00 and a 52-week high of $6.97.

Redwood Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd will be paid a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $0.72 annualized dividend and a dividend yield of 13.8%. Redwood Trust’s payout ratio is currently -92.31%.

Institutional Trading of Redwood Trust

Several institutional investors have recently modified their holdings of the business. Wellington Management Group LLP grew its stake in shares of Redwood Trust by 0.5% in the fourth quarter. Wellington Management Group LLP now owns 15,101,012 shares of the real estate investment trust’s stock worth $83,509,000 after purchasing an additional 80,529 shares during the last quarter. UBS Group AG grew its stake in shares of Redwood Trust by 521.1% in the fourth quarter. UBS Group AG now owns 3,875,226 shares of the real estate investment trust’s stock worth $21,430,000 after purchasing an additional 3,251,302 shares during the last quarter. Invesco Ltd. boosted its position in Redwood Trust by 25.4% during the fourth quarter. Invesco Ltd. now owns 2,551,067 shares of the real estate investment trust’s stock valued at $14,107,000 after acquiring an additional 516,630 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Redwood Trust by 15.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,169,992 shares of the real estate investment trust’s stock valued at $12,000,000 after acquiring an additional 282,800 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Redwood Trust by 7.5% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,148,393 shares of the real estate investment trust’s stock valued at $12,439,000 after acquiring an additional 149,003 shares during the last quarter. Institutional investors own 74.34% of the company’s stock.

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.