Redwood Trust, Inc. (NYSE:RWT - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.05 and traded as high as $6.08. Redwood Trust shares last traded at $6.03, with a volume of 584,576 shares trading hands.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the stock. JMP Securities reduced their target price 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. Jones Trading restated a "buy" rating and set a $7.00 target price on shares of Redwood Trust in a report on Friday, May 2nd. Wall Street Zen upgraded shares of Redwood Trust from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. 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. Finally, JPMorgan Chase & Co. boosted 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. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $7.44.
View Our Latest Stock Report on RWT
Redwood Trust Trading Up 0.5%
The firm has a market cap of $802.71 million, a price-to-earnings ratio of 27.41 and a beta of 1.30. The business's 50 day moving average price is $5.76 and its 200-day moving average price is $6.05. The company has a debt-to-equity ratio of 16.32, a quick ratio of 39.35 and a current ratio of 39.35.
Redwood Trust (NYSE:RWT - Get Free Report) last issued its 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). The company had revenue of $73.80 million during the quarter, compared to analyst estimates of $26.55 million. Redwood Trust had a net margin of 3.93% and a return on equity of 7.82%. Equities analysts expect that Redwood Trust, Inc. will post 0.78 EPS for the current year.
Redwood Trust Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 23rd were paid a $0.18 dividend. The ex-dividend date was Monday, June 23rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 11.94%. Redwood Trust's dividend payout ratio (DPR) is presently 327.27%.
Institutional Investors Weigh In On Redwood Trust
A number of institutional investors have recently modified their holdings of the stock. Invesco Ltd. grew its position in shares of Redwood Trust by 150.9% during the 4th quarter. Invesco Ltd. now owns 1,995,520 shares of the real estate investment trust's stock valued at $13,031,000 after buying an additional 1,200,050 shares during the last quarter. LSV Asset Management grew its position in shares of Redwood Trust by 58.9% during the 1st quarter. LSV Asset Management now owns 1,772,345 shares of the real estate investment trust's stock valued at $10,758,000 after buying an additional 657,141 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Redwood Trust during the 1st quarter valued at about $2,018,000. Nuveen LLC bought a new stake in shares of Redwood Trust during the 1st quarter valued at about $1,983,000. Finally, Balyasny Asset Management L.P. grew its position in shares of Redwood Trust by 19.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,994,294 shares of the real estate investment trust's stock valued at $13,023,000 after buying an additional 321,612 shares during the last quarter. Institutional investors and hedge funds own 74.34% of the company's stock.
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Redwood Trust, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Redwood Trust wasn't on the list.
While Redwood Trust currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
