ValuEngine upgraded shares of Redwood Trust (NYSE:RWT) from a hold rating to a buy rating in a research report report published on Friday.

Other equities analysts have also issued research reports about the company. BidaskClub upgraded Redwood Trust from a hold rating to a buy rating in a research note on Friday, August 4th. Deutsche Bank reduced their target price on Redwood Trust from $18.50 to $17.00 and set a buy rating for the company in a research note on Wednesday, November 8th. Finally, Zacks Investment Research upgraded Redwood Trust from a strong sell rating to a hold rating in a research note on Tuesday, October 10th.

Shares of Redwood Trust (NYSE:RWT) traded up $0.06 during mid-day trading on Friday, reaching $15.13. The company had a trading volume of 387,200 shares, compared to its average volume of 343,946. The stock has a market cap of $1,162.12, a price-to-earnings ratio of 10.84 and a beta of 0.91. The company has a debt-to-equity ratio of 2.91, a current ratio of 3.36 and a quick ratio of 3.36. Redwood Trust has a one year low of $14.29 and a one year high of $17.45.

Redwood Trust (NYSE:RWT) last issued its earnings results on Monday, November 6th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.04). The firm had revenue of $35.00 million during the quarter, compared to analysts’ expectations of $36.86 million. Redwood Trust had a return on equity of 9.87% and a net margin of 41.62%. The business’s revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the business earned $0.58 EPS. equities analysts predict that Redwood Trust will post 1.39 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.28 per share. The ex-dividend date is Thursday, December 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.40%. Redwood Trust’s payout ratio is currently 70.89%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Redwood Trust by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 6,303,530 shares of the real estate investment trust’s stock valued at $107,412,000 after buying an additional 137,701 shares during the last quarter. State Street Corp raised its stake in shares of Redwood Trust by 6.2% during the 2nd quarter. State Street Corp now owns 1,611,297 shares of the real estate investment trust’s stock valued at $27,454,000 after buying an additional 93,613 shares during the last quarter. Seizert Capital Partners LLC raised its stake in shares of Redwood Trust by 3.1% during the 3rd quarter. Seizert Capital Partners LLC now owns 1,496,235 shares of the real estate investment trust’s stock valued at $24,374,000 after buying an additional 45,651 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Redwood Trust by 1.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,422,000 shares of the real estate investment trust’s stock valued at $24,231,000 after buying an additional 25,000 shares during the last quarter. Finally, Hilton Capital Management LLC raised its stake in shares of Redwood Trust by 1.4% during the 2nd quarter. Hilton Capital Management LLC now owns 1,027,078 shares of the real estate investment trust’s stock valued at $17,501,000 after buying an additional 13,970 shares during the last quarter. Institutional investors and hedge funds own 85.39% of the company’s stock.

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About Redwood Trust

Redwood Trust, Inc, through its subsidiaries, focuses on investing in mortgage and other real estate related assets. The Company is engaged in mortgage banking activities. The Company operates through three segments: Residential Investments, Residential Mortgage Banking and Commercial. The Residential Investments segment includes a portfolio of investments in residential mortgage-backed securities (RMBS) retained from its Sequoia securitizations.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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