Redwood Trust, Inc. (NYSE:RWT - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-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 traded.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the stock. Jones Trading reiterated a "buy" rating and set a $7.00 target price on shares of Redwood Trust in a research report on Friday, May 2nd. JPMorgan Chase & Co. lifted their price target on shares of Redwood Trust from $5.50 to $6.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. UBS Group lifted their price target on shares of Redwood Trust from $6.50 to $7.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. JMP Securities reduced 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 research note on Thursday, April 17th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Redwood Trust from $7.75 to $7.00 and set an "outperform" rating on the stock in a research note 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 company. Based on data from MarketBeat.com, Redwood Trust currently has an average rating of "Moderate Buy" and an average target price of $7.44.
Check Out Our Latest Stock Report on Redwood Trust
Redwood Trust Stock Performance
The firm has a market capitalization of $808.04 million, a price-to-earnings ratio of 27.59 and a beta of 1.30. The stock's fifty day moving average is $5.76 and its two-hundred day moving average is $6.05. The company has a quick ratio of 39.35, a current ratio of 39.35 and a debt-to-equity ratio of 16.32.
Redwood Trust (NYSE:RWT - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.14 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.03). Redwood Trust had a net margin of 3.93% and a return on equity of 7.82%. The company had revenue of $73.80 million during the quarter, compared to analyst estimates of $26.55 million. On average, analysts predict that Redwood Trust, Inc. will post 0.78 earnings per share for the current year.
Redwood Trust Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 23rd were issued a $0.18 dividend. The ex-dividend date was Monday, June 23rd. This represents a $0.72 annualized dividend and a dividend yield of 11.86%. Redwood Trust's dividend payout ratio is currently 327.27%.
Hedge Funds Weigh In On Redwood Trust
Institutional investors and hedge funds have recently modified their holdings of the stock. Northern Trust Corp grew its stake in shares of Redwood Trust by 14.4% in the fourth quarter. Northern Trust Corp now owns 1,569,301 shares of the real estate investment trust's stock valued at $10,248,000 after acquiring an additional 197,719 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Redwood Trust by 33.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 388,768 shares of the real estate investment trust's stock valued at $2,539,000 after purchasing an additional 97,205 shares in the last quarter. Boston Partners boosted its stake in shares of Redwood Trust by 8.3% in the 4th quarter. Boston Partners now owns 2,707,027 shares of the real estate investment trust's stock valued at $17,561,000 after purchasing an additional 206,698 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Redwood Trust by 9.8% in the 4th quarter. Bank of New York Mellon Corp now owns 1,003,627 shares of the real estate investment trust's stock valued at $6,554,000 after purchasing an additional 89,335 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Redwood Trust by 11.4% in the 4th quarter. Bank of America Corp DE now owns 397,466 shares of the real estate investment trust's stock valued at $2,595,000 after purchasing an additional 40,654 shares in the last quarter. 74.34% of the stock is currently owned by institutional investors and hedge funds.
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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