JMP Securities restated their market outperform rating on shares of Redwood Trust (NYSE:RWT - Free Report) in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $8.00 price objective on the real estate investment trust's stock.
Other equities research analysts also recently issued reports about the company. Wells Fargo & Company decreased their target price on Redwood Trust from $8.00 to $7.00 and set an equal weight rating on the stock in a research report on Wednesday, February 21st. Raymond James lowered their price objective on Redwood Trust from $9.00 to $8.50 and set a strong-buy rating on the stock in a research report on Friday, January 19th. UBS Group reduced their target price on Redwood Trust from $9.00 to $8.50 and set a buy rating for the company in a research report on Tuesday, March 5th. Piper Sandler decreased their price target on shares of Redwood Trust from $7.50 to $7.00 and set a neutral rating on the stock in a research note on Wednesday, February 21st. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Redwood Trust from $8.50 to $7.75 and set an outperform rating for the company in a research note on Monday, February 26th. Three 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's stock. Based on data from MarketBeat, Redwood Trust currently has a consensus rating of Moderate Buy and an average price target of $7.78.
Get Our Latest Stock Analysis on Redwood Trust
Redwood Trust Stock Performance
Redwood Trust stock traded down $0.41 during mid-day trading on Wednesday, reaching $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 firm has a market cap of $782.90 million, a price-to-earnings ratio of -49.58 and a beta of 1.48. The company has a 50 day moving average of $6.30 and a 200-day moving average of $6.77. Redwood Trust has a 52 week low of $5.47 and a 52 week high of $8.30.
Redwood Trust Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 21st were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 10.76%. The ex-dividend date of this dividend was Wednesday, March 20th. Redwood Trust's payout ratio is presently -533.33%.
Institutional Trading of Redwood Trust
Hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC lifted its stake in shares of Redwood Trust by 641.0% during 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 acquiring an additional 3,205 shares during the period. Quarry LP boosted its stake in shares of Redwood Trust by 736.7% in the 1st 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 during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Redwood Trust by 71.9% during 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 buying an additional 2,796 shares during the period. O Dell Group LLC bought a new stake in shares of Redwood Trust during the fourth quarter worth approximately $44,000. Finally, Metropolitan Life Insurance Co NY lifted 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 valued at $49,000 after buying an additional 1,649 shares during the period. 74.34% of the stock is owned by institutional investors.
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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