Redwood Trust, Inc. (NYSE:RWT - Free Report) - Wedbush lowered their Q1 2024 earnings estimates for shares of Redwood Trust in a report issued on Thursday, April 11th. Wedbush analyst J. Mccanless now anticipates that the real estate investment trust will earn $0.09 per share for the quarter, down from their prior forecast of $0.10. Wedbush has a "Neutral" rating and a $6.50 price objective on the stock. The consensus estimate for Redwood Trust's current full-year earnings is $0.47 per share. Wedbush also issued estimates for Redwood Trust's Q2 2024 earnings at $0.11 EPS, Q3 2024 earnings at $0.14 EPS, Q4 2024 earnings at $0.17 EPS and FY2025 earnings at $0.65 EPS.
Other analysts also recently issued reports about the stock. Piper Sandler dropped their target price on shares of Redwood Trust from $7.50 to $7.00 and set a "neutral" rating on the stock in a report on Wednesday, February 21st. Keefe, Bruyette & Woods decreased their price target on shares of Redwood Trust from $7.75 to $7.25 and set an "outperform" rating for the company in a research note on Wednesday. Wells Fargo & Company cut their price target on Redwood Trust from $8.00 to $7.00 and set an "equal weight" rating for the company in a report on Wednesday, February 21st. Raymond James dropped their target price on Redwood Trust from $9.00 to $8.50 and set a "strong-buy" rating for the company in a report on Friday, January 19th. Finally, UBS Group dropped their price target 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. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Redwood Trust currently has a consensus rating of "Moderate Buy" and an average target price of $7.64.
Read Our Latest Research Report on RWT
Redwood Trust Trading Down 1.6 %
Shares of NYSE:RWT traded down $0.09 during mid-day trading on Friday, reaching $5.74. The stock had a trading volume of 1,236,957 shares, compared to its average volume of 1,503,813. The firm has a market cap of $754.61 million, a PE ratio of -47.75 and a beta of 1.48. The firm has a 50 day simple moving average of $6.26 and a two-hundred day simple moving average of $6.76. The company has a current ratio of 7.36, a quick ratio of 7.36 and a debt-to-equity ratio of 10.12. Redwood Trust has a twelve month low of $5.47 and a twelve month high of $8.30.
Institutional Investors Weigh In On Redwood Trust
A number of institutional investors have recently added to or reduced their stakes in RWT. ProShare Advisors LLC raised its position in shares of Redwood Trust by 8.3% during the second quarter. ProShare Advisors LLC now owns 17,800 shares of the real estate investment trust's stock worth $113,000 after acquiring an additional 1,370 shares during the last quarter. Advisor Partners II LLC lifted its position in shares of Redwood Trust by 1.5% during the 4th quarter. Advisor Partners II LLC now owns 95,388 shares of the real estate investment trust's stock valued at $645,000 after acquiring an additional 1,385 shares during the period. Simon Quick Advisors LLC boosted its stake in Redwood Trust by 6.3% during the fourth quarter. Simon Quick Advisors LLC now owns 25,246 shares of the real estate investment trust's stock worth $187,000 after acquiring an additional 1,488 shares in the last quarter. Prudential Financial Inc. grew its stake in shares of Redwood Trust by 0.5% in the 2nd quarter. Prudential Financial Inc. now owns 301,444 shares of the real estate investment trust's stock valued at $2,924,000 after buying an additional 1,500 shares during the period. Finally, Metropolitan Life Insurance Co NY boosted its holdings in 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 worth $49,000 after acquiring an additional 1,649 shares in the last quarter. 74.34% of the stock is owned by institutional investors.
Redwood Trust Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 21st were issued a $0.16 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $0.64 dividend on an annualized basis and a yield of 11.16%. Redwood Trust's dividend payout ratio (DPR) is presently -533.33%.
Redwood Trust Company Profile
(
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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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