Redwood Trust (NYSE:RWT) Share Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

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.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on RWT shares. 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 report on Monday, May 5th. Wall Street Zen upgraded shares of Redwood Trust from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Jones Trading reiterated a "buy" rating and set a $7.00 price target on shares of Redwood Trust in a 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 report on Thursday, May 1st. Finally, JMP Securities cut their price target 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. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $7.39.

Redwood Trust Price Performance

The business's 50 day moving average is $5.76 and its two-hundred day moving average is $6.05. The firm has a market cap of $800.05 million, a P/E ratio of 27.32 and a beta of 1.30. 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 posted its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $0.14 earnings per share 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 the consensus estimate of $26.55 million. As a group, analysts anticipate that Redwood Trust, Inc. will post 0.78 earnings per share for the current year.

Redwood Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 23rd were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 11.98%. The ex-dividend date was Monday, June 23rd. Redwood Trust's dividend payout ratio (DPR) is currently 327.27%.

Institutional Investors Weigh In On Redwood Trust

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Northern Trust Corp grew its holdings in shares of Redwood Trust by 14.4% during 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 buying an additional 197,719 shares during the last quarter. New York State Teachers Retirement System grew its holdings in shares of Redwood Trust by 1.5% during the first quarter. New York State Teachers Retirement System now owns 152,430 shares of the real estate investment trust's stock valued at $925,000 after buying an additional 2,326 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Redwood Trust by 33.3% during the fourth 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 buying an additional 97,205 shares during the last quarter. Boston Partners grew its holdings in shares of Redwood Trust by 8.3% during the fourth quarter. Boston Partners now owns 2,707,027 shares of the real estate investment trust's stock valued at $17,561,000 after buying an additional 206,698 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Redwood Trust by 9.8% during the fourth 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 buying an additional 89,335 shares during the last quarter. 74.34% of the stock is owned by institutional investors.

Redwood Trust Company Profile

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.