Redwood Trust (NYSE:RWT) Sets New 52-Week Low at $5.46

Redwood Trust, Inc. (NYSE:RWT) shares hit a new 52-week low during trading on Tuesday . The company traded as low as $5.46 and last traded at $5.46, with a volume of 112123 shares traded. The stock had previously closed at $5.59.

Analyst Upgrades and Downgrades

RWT has been the topic of several recent analyst reports. Raymond James cut their price target on Redwood Trust from $9.00 to $8.50 and set a “strong-buy” rating on the stock in a research note on Friday, January 19th. JMP Securities reiterated a “market outperform” rating and issued a $8.00 price target on shares of Redwood Trust in a research note on Wednesday, April 10th. UBS Group cut their price target on Redwood Trust from $9.00 to $8.50 and set a “buy” rating on the stock in a research note on Tuesday, March 5th. Wells Fargo & Company cut their price target on Redwood Trust from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 21st. Finally, Wedbush lowered Redwood Trust from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $8.00 to $6.50 in a report on Thursday, April 11th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $7.64.

Redwood Trust Price Performance

The firm has a market capitalization of $726.32 million, a P/E ratio of -46.58 and a beta of 1.48. The business has a fifty day moving average of $6.23 and a 200-day moving average of $6.73. The company has a debt-to-equity ratio of 10.12, a quick ratio of 7.36 and a current ratio of 7.36.

Redwood Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 21st were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 11.59%. The ex-dividend date of this dividend was Wednesday, March 20th. Redwood Trust’s dividend payout ratio (DPR) is presently -533.33%.

Hedge Funds Weigh In On Redwood Trust

Hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC lifted its stake in shares of Redwood Trust by 641.0% in the fourth quarter. International Assets Investment Management LLC now owns 3,705 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 3,205 shares during the period. Quarry LP boosted its stake in Redwood Trust by 736.7% in the first quarter. Quarry LP now owns 5,614 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 4,943 shares during the last quarter. O Dell Group LLC bought a new position in shares of Redwood Trust during the fourth quarter worth $44,000. Tower Research Capital LLC TRC lifted its position in Redwood Trust by 71.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,683 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 2,796 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY lifted its position in Redwood Trust by 29.6% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 7,213 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 1,649 shares in the last quarter. 74.34% of the stock is owned by institutional investors and hedge funds.

About Redwood Trust

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.