Redwood Trust Inc. (RWT) Given Consensus Recommendation of “Hold” by Brokerages
Redwood Trust Inc. (NYSE:RWT) has been assigned a consensus recommendation of “Hold” from the seven research firms that are presently covering the firm. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $15.58.
Several research analysts recently issued reports on the company. Maxim Group lowered Redwood Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, August 10th. Zacks Investment Research lowered Redwood Trust from a “buy” rating to a “hold” rating in a research report on Friday, August 26th. Finally, Keefe, Bruyette & Woods lowered Redwood Trust from an “outperform” rating to a “market perform” rating and set a $14.50 target price on the stock. in a research report on Tuesday, July 19th.
Redwood Trust (NYSE:RWT) traded up 0.58% on Monday, hitting $13.86. The stock had a trading volume of 40,883 shares. The stock has a market cap of $1.07 billion, a P/E ratio of 10.10 and a beta of 0.71. The company’s 50 day moving average is $13.99 and its 200-day moving average is $13.81. Redwood Trust has a 12 month low of $9.26 and a 12 month high of $15.24.
Redwood Trust (NYSE:RWT) last announced its earnings results on Monday, August 8th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.10. Redwood Trust had a return on equity of 12.09% and a net margin of 41.54%. During the same quarter last year, the company posted $0.31 EPS. Analysts forecast that Redwood Trust will post $1.35 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 8.13%. The ex-dividend date of this dividend was Tuesday, September 13th. Redwood Trust’s dividend payout ratio (DPR) is 85.50%.
A number of hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio raised its stake in Redwood Trust by 6.7% in the second quarter. Public Employees Retirement System of Ohio now owns 7,329 shares of the company’s stock valued at $101,000 after buying an additional 461 shares during the period. Emerald Acquisition Ltd. bought a new stake in Redwood Trust during the second quarter valued at approximately $115,000. Cubist Systematic Strategies LLC bought a new stake in Redwood Trust during the second quarter valued at approximately $141,000. Teacher Retirement System of Texas raised its stake in Redwood Trust by 7.1% in the second quarter. Teacher Retirement System of Texas now owns 10,846 shares of the company’s stock valued at $150,000 after buying an additional 716 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Redwood Trust during the second quarter valued at approximately $151,000. 86.94% of the stock is currently owned by hedge funds and other institutional investors.
Redwood Trust Company Profile
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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