Redwood Trust (NYSE:RWT) Price Target Cut to $7.25

Redwood Trust (NYSE:RWT - Free Report) had its target price trimmed by Keefe, Bruyette & Woods from $7.75 to $7.25 in a research note released on Wednesday morning, Benzinga reports. The firm currently has an outperform rating on the real estate investment trust's stock.

Several other research analysts also recently commented on RWT. Raymond James decreased their price target on shares of 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. UBS Group cut 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. JMP Securities restated a market outperform rating and issued a $8.00 target price on shares of Redwood Trust in a report on Wednesday. Wells Fargo & Company cut 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. Finally, Piper Sandler cut 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. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $7.78.

Redwood Trust Price Performance

Shares of RWT stock traded down $0.41 during trading on Wednesday, hitting $5.95. The company had a trading volume of 2,061,375 shares, compared to its average volume of 1,501,107. The company has a quick ratio of 7.36, a current ratio of 7.36 and a debt-to-equity ratio of 10.12. The stock's 50-day moving average is $6.30 and its two-hundred day moving average is $6.77. The stock has a market capitalization of $782.88 million, a price-to-earnings ratio of -49.58 and a beta of 1.48. Redwood Trust has a 52 week low of $5.47 and a 52 week high of $8.30.

Redwood Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 21st were paid 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 10.76%. Redwood Trust's dividend payout ratio (DPR) is presently -533.33%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its stake in Redwood Trust by 641.0% in the 4th quarter. International Assets Investment Management LLC now owns 3,705 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 3,205 shares during the period. Quarry LP boosted its stake in Redwood Trust by 736.7% in the 1st quarter. Quarry LP now owns 5,614 shares of the real estate investment trust's stock worth $38,000 after purchasing an additional 4,943 shares during the period. O Dell Group LLC bought a new position in Redwood Trust in the 4th quarter worth approximately $44,000. Tower Research Capital LLC TRC boosted its stake in Redwood Trust by 71.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,683 shares of the real estate investment trust's stock worth $43,000 after purchasing an additional 2,796 shares during the period. Finally, Metropolitan Life Insurance Co NY boosted its stake in Redwood Trust by 29.6% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 7,213 shares of the real estate investment trust's stock worth $49,000 after purchasing an additional 1,649 shares during the period. 74.34% of the stock is currently owned by institutional investors.

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.