Redwood Trust, Inc. Forecasted to Earn FY2024 Earnings of $0.50 Per Share (NYSE:RWT)

Redwood Trust, Inc. (NYSE:RWT - Free Report) - Investment analysts at Wedbush cut their FY2024 EPS 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 post earnings of $0.50 per share for the year, down from their previous estimate of $0.55. Wedbush has a "Neutral" rating and a $6.50 price target on the stock. The consensus estimate for Redwood Trust's current full-year earnings is $0.48 per share.

RWT has been the topic of a number of other reports. UBS Group dropped their target price on shares of Redwood Trust from $9.00 to $8.50 and set a "buy" rating on the stock in a report on Tuesday, March 5th. Raymond James dropped their target price on shares of Redwood Trust from $9.00 to $8.50 and set a "strong-buy" rating on the stock in a report on Friday, January 19th. 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 dropped their target price on shares of Redwood Trust from $7.75 to $7.25 and set an "outperform" rating on the stock in a report on Wednesday, April 10th. Finally, Wells Fargo & Company lowered their price target on shares of Redwood Trust from $8.00 to $7.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 21st. Four 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 data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $7.64.

Redwood Trust Stock Down 2.4 %

NYSE:RWT traded down $0.14 on Monday, hitting $5.59. 1,459,239 shares of the company's stock were exchanged, compared to its average volume of 1,503,220. The firm has a 50-day moving average price of $6.23 and a 200-day moving average price of $6.73. 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 has a 52 week low of $5.47 and a 52 week high of $8.30. The company has a market cap of $735.52 million, a P/E ratio of -46.58 and a beta of 1.48.

Hedge Funds Weigh In On Redwood Trust

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Redwood Trust by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 12,973,503 shares of the real estate investment trust's stock valued at $96,134,000 after acquiring an additional 78,222 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Redwood Trust by 164.4% during the fourth 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 acquiring an additional 7,035,524 shares during the last quarter. State Street Corp raised its stake in Redwood Trust by 1.9% during the third quarter. State Street Corp now owns 4,359,312 shares of the real estate investment trust's stock worth $25,022,000 after buying an additional 79,780 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in Redwood Trust by 15.6% during the third quarter. Adage Capital Partners GP L.L.C. now owns 3,777,300 shares of the real estate investment trust's stock worth $26,932,000 after buying an additional 509,536 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Redwood Trust by 9.3% during the second quarter. Geode Capital Management LLC now owns 2,357,620 shares of the real estate investment trust's stock worth $15,018,000 after buying an additional 199,769 shares during the last quarter. Institutional investors own 74.34% of the company's stock.

Redwood Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 21st were given 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 11.45%. Redwood Trust's dividend payout ratio is currently -533.33%.

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.