Redwood Trust, Inc. (NYSE:RWT - Get Free Report) declared a quarterly dividend on Thursday, June 12th, RTT News reports. Stockholders of record on Monday, June 23rd will be given a dividend of 0.18 per share by the real estate investment trust on Monday, June 30th. This represents a $0.72 annualized dividend and a dividend yield of 12.37%.
Redwood Trust has a dividend payout ratio of 86.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Analysts expect Redwood Trust to earn $0.90 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 80.0%.
Redwood Trust Stock Up 0.9%
Shares of NYSE RWT traded up $0.05 during midday trading on Thursday, hitting $5.82. The company's stock had a trading volume of 484,852 shares, compared to its average volume of 940,086. The business's fifty day simple moving average is $5.64 and its two-hundred day simple moving average is $6.22. The company has a debt-to-equity ratio of 14.09, a current ratio of 44.36 and a quick ratio of 44.36. Redwood Trust has a 1 year low of $4.68 and a 1 year high of $8.15. The firm has a market capitalization of $774.75 million, a price-to-earnings ratio of 17.64 and a beta of 1.30.
Redwood Trust (NYSE:RWT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.17 by ($0.03). Redwood Trust had a return on equity of 6.91% and a net margin of 9.35%. The firm had revenue of $73.80 million during the quarter, compared to analysts' expectations of $26.55 million. On average, equities analysts predict that Redwood Trust will post 0.78 EPS for the current year.
Hedge Funds Weigh In On Redwood Trust
A number of institutional investors have recently modified their holdings of the business. Strs Ohio acquired a new position in shares of Redwood Trust in the 1st quarter valued at $149,000. Jane Street Group LLC acquired a new position in shares of Redwood Trust in the 1st quarter valued at $2,018,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Redwood Trust by 26.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 492,661 shares of the real estate investment trust's stock valued at $2,990,000 after acquiring an additional 103,893 shares during the period. 74.34% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
RWT has been the subject of a number of recent research reports. Jones Trading reiterated a "buy" rating and issued a $7.00 price target on shares of Redwood Trust in a research note on Friday, May 2nd. JMP Securities cut their price objective on shares of Redwood Trust from $8.00 to $7.50 and set a "market outperform" rating on the stock in a report on Thursday, April 17th. JPMorgan Chase & Co. raised their price objective on shares of Redwood Trust from $5.50 to $6.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Wall Street Zen raised shares of Redwood Trust from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Redwood Trust from $7.75 to $7.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Redwood Trust currently has a consensus rating of "Moderate Buy" and an average target price of $7.44.
Check Out Our Latest Stock Report on RWT
Redwood Trust Company Profile
(
Get Free Report)
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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