JMP Securities restated their market outperform rating on shares of Redwood Trust (NYSE:RWT - Free Report) in a report published on Thursday morning, Benzinga reports. They currently have a $8.00 price target on the real estate investment trust's stock.
Several other research firms have also commented on RWT. 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 research note on Friday, January 19th. Piper Sandler dropped their target price on Redwood Trust from $7.50 to $7.00 and set a neutral rating for the company in a research note on Wednesday, February 21st. Wedbush lowered Redwood Trust from an outperform rating to a neutral rating and dropped their target price for the company from $8.00 to $6.50 in a research note on Thursday, April 11th. Keefe, Bruyette & Woods lowered their price target on Redwood Trust from $7.75 to $7.25 and set an outperform rating for the company in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company lowered their price target on Redwood Trust from $8.00 to $7.00 and set an equal weight rating for the company in a research report on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $7.64.
View Our Latest Report on RWT
Redwood Trust Trading Up 2.3 %
Redwood Trust stock traded up $0.12 during trading on Thursday, hitting $5.64. The company's stock had a trading volume of 961,482 shares, compared to its average volume of 1,484,044. The stock has a market capitalization of $741.45 million, a price-to-earnings ratio of -46.83 and a beta of 1.48. The stock's fifty day moving average is $6.19 and its 200 day moving average is $6.71. Redwood Trust has a 1-year low of $5.45 and a 1-year high of $8.30. The company has a debt-to-equity ratio of 10.12, a quick ratio of 7.36 and a current ratio of 7.36.
Redwood Trust Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 21st were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 11.36%. The ex-dividend date was Wednesday, March 20th. Redwood Trust's payout ratio is -533.33%.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC lifted its stake in shares of Redwood Trust by 641.0% in the fourth quarter. International Assets Investment Management LLC now owns 3,705 shares of the real estate investment trust's stock worth $27,000 after acquiring an additional 3,205 shares in the last quarter. Quarry LP lifted its stake in shares of Redwood Trust by 736.7% in the first quarter. Quarry LP now owns 5,614 shares of the real estate investment trust's stock worth $38,000 after acquiring an additional 4,943 shares in the last quarter. O Dell Group LLC acquired a new position in shares of Redwood Trust in the fourth quarter worth about $44,000. Tower Research Capital LLC TRC raised its stake in Redwood Trust by 71.9% during the second quarter. Tower Research Capital LLC TRC now owns 6,683 shares of the real estate investment trust's stock valued at $43,000 after buying an additional 2,796 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY raised its stake in Redwood Trust by 29.6% during 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 in the last quarter. Institutional investors and hedge funds own 74.34% of the company's stock.
About Redwood Trust
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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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