Zacks Investment Research upgraded shares of Redwood Trust Inc. (NYSE:RWT) from a hold rating to a buy rating in a research note issued to investors on Tuesday. Zacks Investment Research currently has $16.00 price objective on the stock.

According to Zacks, “REDWOOD TRUST INC. is a self-advised and self-managed real estate investment trust. It specializes in acquiring and managing real estate mortgage assets which may be acquired as whole loans or as mortgage securities reperesenting interest in or obligations backed by pools of mortgage loans. “

Other equities research analysts also recently issued reports about the stock. Maxim Group downgraded shares of Redwood Trust from a buy rating to a hold rating in a report on Wednesday, August 10th. Keefe, Bruyette & Woods cut Redwood Trust from an outperform rating to a market perform rating and set a $14.50 price target on the stock. in a research report on Tuesday, July 19th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Redwood Trust presently has an average rating of Hold and a consensus target price of $15.55.

Redwood Trust (NYSE:RWT) traded up 0.95% during midday trading on Tuesday, reaching $13.83. 47,145 shares of the company traded hands. Redwood Trust has a one year low of $9.26 and a one year high of $15.24. The stock’s 50 day moving average is $14.16 and its 200 day moving average is $13.76. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 10.08 and a beta of 0.71.

Redwood Trust (NYSE:RWT) last released its quarterly earnings data on Monday, August 8th. The company reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.10. Redwood Trust had a net margin of 41.54% and a return on equity of 12.09%. During the same quarter in the prior year, the firm earned $0.31 EPS. On average, equities analysts anticipate that Redwood Trust will post $1.35 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 8.18%. The ex-dividend date was Tuesday, September 13th. Redwood Trust’s dividend payout ratio is currently 85.50%.

A number of hedge funds have recently modified their holdings of RWT. Vanguard Group Inc. raised its stake in shares of Redwood Trust by 0.7% in the second quarter. Vanguard Group Inc. now owns 5,600,845 shares of the company’s stock valued at $77,349,000 after buying an additional 36,218 shares in the last quarter. Kempen Capital Management N.V. raised its stake in shares of Redwood Trust by 3.8% in the first quarter. Kempen Capital Management N.V. now owns 926,750 shares of the company’s stock valued at $12,122,000 after buying an additional 34,250 shares in the last quarter. UBS Group AG raised its stake in shares of Redwood Trust by 1.5% in the first quarter. UBS Group AG now owns 919,132 shares of the company’s stock valued at $12,022,000 after buying an additional 13,768 shares in the last quarter. Hilton Capital Management LLC raised its stake in shares of Redwood Trust by 3.9% in the second quarter. Hilton Capital Management LLC now owns 772,682 shares of the company’s stock valued at $10,671,000 after buying an additional 28,886 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Redwood Trust during the fourth quarter valued at about $9,758,000. 86.85% of the stock is owned by institutional investors and hedge funds.

About Redwood Trust

Redwood Trust, Inc, together with its subsidiaries, focuses on investing in mortgage- and other real estate-related assets. The Company operates through three segments: residential mortgage banking, residential investments, and commercial mortgage banking and investments. Its residential mortgage banking segment consists of operating a mortgage loan conduit that acquires residential whole loans from third-party originators for subsequent sale, securitization or transfer to its investment portfolio.

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