Redwood Trust, Inc. (NYSE:RWT) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Redwood Trust, Inc. (NYSE:RWT - Get Free Report) has been given an average rating of "Moderate Buy" by the seven analysts that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $7.84.

A number of research analysts have issued reports on the stock. Wells Fargo & Company reduced their target price 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. UBS Group reduced 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. Piper Sandler dropped their price objective on shares of Redwood Trust from $7.50 to $7.00 and set a "neutral" rating for the company in a research note on Wednesday, February 21st. Raymond James dropped their price objective on shares of 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. Finally, JMP Securities dropped their price objective on shares of Redwood Trust from $9.00 to $8.00 and set a "market outperform" rating for the company in a research note on Wednesday, February 21st.

Institutional Trading of Redwood Trust

Institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP grew its position in Redwood Trust by 157.1% in the third quarter. Wellington Management Group LLP now owns 4,279,191 shares of the real estate investment trust's stock valued at $30,511,000 after acquiring an additional 2,614,898 shares in the last quarter. Boston Partners acquired a new stake in Redwood Trust in the third quarter valued at approximately $12,015,000. Victory Capital Management Inc. grew its position in Redwood Trust by 383.2% in the third quarter. Victory Capital Management Inc. now owns 128,334 shares of the real estate investment trust's stock valued at $915,000 after acquiring an additional 101,774 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Redwood Trust by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,670,825 shares of the real estate investment trust's stock valued at $11,913,000 after acquiring an additional 44,071 shares in the last quarter. Finally, Advisors Preferred LLC acquired a new stake in Redwood Trust in the third quarter valued at approximately $4,070,000. Institutional investors and hedge funds own 74.34% of the company's stock.

Redwood Trust Trading Up 1.1 %

NYSE:RWT traded up $0.07 on Friday, reaching $6.19. The stock had a trading volume of 1,557,717 shares, compared to its average volume of 2,140,358. The company has a market cap of $814.48 million, a price-to-earnings ratio of -51.58 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. The firm's fifty day moving average is $6.33 and its two-hundred day moving average is $6.78. Redwood Trust has a 12-month low of $5.47 and a 12-month high of $8.30.

Redwood Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 21st were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 10.34%. The ex-dividend date was Wednesday, March 20th. Redwood Trust's dividend payout ratio (DPR) is presently -533.33%.

About Redwood Trust

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.