Redwood Trust, Inc. (NYSE:RWT - Get Free Report) shares hit a new 52-week low during trading on Tuesday . The company 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.
Analyst Ratings Changes
RWT has been the topic of a number of recent research reports. UBS Group lowered their target price on Redwood Trust from $9.00 to $8.50 and set a "buy" rating on the stock in a research note on Tuesday, March 5th. Wedbush downgraded Redwood Trust from an "outperform" rating to a "neutral" rating and lowered their target price for the stock from $8.00 to $6.50 in a research note on Thursday, April 11th. Raymond James lowered their target price on Redwood Trust from $9.00 to $8.50 and set a "strong-buy" rating on the stock in a research note on Friday, January 19th. JMP Securities restated a "market outperform" rating and issued a $8.00 target price on shares of Redwood Trust in a research note on Wednesday, April 10th. Finally, Piper Sandler lowered their target price on Redwood Trust from $7.50 to $7.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $7.64.
Check Out Our Latest Stock Analysis on RWT
Redwood Trust Stock Down 1.7 %
The business has a fifty day simple moving average of $6.20 and a 200 day simple moving average of $6.72. The firm has a market cap of $723.03 million, a price-to-earnings ratio of -45.79 and a beta of 1.48. The company has a debt-to-equity ratio of 10.12, a current ratio of 7.36 and a quick ratio of 7.36.
Redwood Trust Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders 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 11.65%. Redwood Trust's payout ratio is currently -533.33%.
Hedge Funds Weigh In On Redwood Trust
A number of hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC grew its position in shares of Redwood Trust by 641.0% in the fourth quarter. International Assets Investment Management LLC now owns 3,705 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 3,205 shares in the last quarter. Quarry LP grew its position in shares of Redwood Trust by 736.7% in the first quarter. Quarry LP now owns 5,614 shares of the real estate investment trust's stock valued at $38,000 after purchasing an additional 4,943 shares in the last quarter. O Dell Group LLC purchased a new stake in shares of Redwood Trust in the fourth quarter valued at approximately $44,000. Tower Research Capital LLC TRC grew its position in shares of Redwood Trust by 71.9% in the second quarter. Tower Research Capital LLC TRC now owns 6,683 shares of the real estate investment trust's stock valued at $43,000 after purchasing an additional 2,796 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY grew its position in shares of Redwood Trust by 29.6% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 7,213 shares of the real estate investment trust's stock valued at $49,000 after purchasing an additional 1,649 shares in the last quarter. Institutional investors and hedge funds own 74.34% of the company's stock.
About Redwood Trust
(
Get Free Report)
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.
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