Redwood Trust Inc. (RWT) Receives $15.86 Average Price Target from Analysts
Redwood Trust Inc. (NYSE:RWT) has been assigned an average rating of “Buy” from the seven ratings firms that are covering the firm. Four research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $15.86.
A number of equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Redwood Trust from a “hold” rating to a “strong-buy” rating and set a $17.00 price objective for the company in a research report on Thursday, November 10th. Maxim Group downgraded shares of Redwood Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, August 10th.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Doheny Asset Management CA boosted its position in shares of Redwood Trust by 2.2% in the third quarter. Doheny Asset Management CA now owns 138,617 shares of the company’s stock worth $1,963,000 after buying an additional 3,000 shares during the period. D. E. Shaw & Co. Inc. bought a new position in shares of Redwood Trust during the third quarter worth about $531,000. Analytic Investors LLC boosted its position in shares of Redwood Trust by 283.5% in the third quarter. Analytic Investors LLC now owns 104,449 shares of the company’s stock worth $1,479,000 after buying an additional 77,210 shares during the period. Davidson Investment Advisors boosted its position in shares of Redwood Trust by 1.0% in the third quarter. Davidson Investment Advisors now owns 313,438 shares of the company’s stock worth $4,436,000 after buying an additional 3,079 shares during the period. Finally, Two Sigma Advisers LP boosted its position in shares of Redwood Trust by 40.5% in the third quarter. Two Sigma Advisers LP now owns 28,805 shares of the company’s stock worth $408,000 after buying an additional 8,301 shares during the period. 87.16% of the stock is owned by institutional investors.
Redwood Trust (NYSE:RWT) opened at 15.41 on Tuesday. The firm has a market capitalization of $1.18 billion, a PE ratio of 8.97 and a beta of 0.79. Redwood Trust has a one year low of $9.26 and a one year high of $15.57. The stock’s 50 day moving average price is $14.32 and its 200 day moving average price is $14.14.
Redwood Trust (NYSE:RWT) last announced its earnings results on Monday, November 7th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. Redwood Trust had a net margin of 48.35% and a return on equity of 15.35%. During the same quarter in the prior year, the business earned $0.22 earnings per share. Analysts expect that Redwood Trust will post $1.51 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Thursday, December 15th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $1.12 dividend on an annualized basis and a yield of 7.27%. Redwood Trust’s dividend payout ratio (DPR) is presently 67.07%.
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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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