Redwood Trust (NYSE:RWT) Shares Gap Up to $5.53

Redwood Trust, Inc. (NYSE:RWT) shares gapped up prior to trading on Wednesday . The stock had previously closed at $5.53, but opened at $5.79. Redwood Trust shares last traded at $6.03, with a volume of 656,266 shares.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. JMP Securities reissued a “market outperform” rating and issued a $8.00 target price on shares of Redwood Trust in a report on Thursday, April 18th. Piper Sandler reduced their price target on shares of Redwood Trust from $7.50 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, February 21st. Wedbush reissued a “neutral” rating and issued a $6.50 price objective on shares of Redwood Trust in a report on Wednesday. Keefe, Bruyette & Woods cut their price objective on shares of Redwood Trust from $7.75 to $7.25 and set an “outperform” rating for the company in a research report on Wednesday, April 10th. Finally, UBS Group decreased their target price on Redwood Trust from $9.00 to $8.50 and set a “buy” rating on the stock in a report on Tuesday, March 5th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $7.66.

Redwood Trust Trading Up 12.1 %

The company has a quick ratio of 7.36, a current ratio of 7.36 and a debt-to-equity ratio of 10.12. The stock’s 50 day moving average price is $6.02 and its 200-day moving average price is $6.62. The stock has a market capitalization of $815.80 million, a PE ratio of -51.08 and a beta of 1.48.

Redwood Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 21st were given a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $0.64 annualized dividend and a dividend yield of 10.32%. Redwood Trust’s payout ratio is -533.33%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC boosted its holdings in shares of Redwood Trust by 641.0% during the 4th quarter. International Assets Investment Management LLC now owns 3,705 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 3,205 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Redwood Trust by 45.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,965 shares of the real estate investment trust’s stock valued at $57,000 after buying an additional 2,498 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Redwood Trust during the 3rd quarter valued at approximately $92,000. Sigma Planning Corp raised its holdings in shares of Redwood Trust by 30.7% during the 3rd quarter. Sigma Planning Corp now owns 13,838 shares of the real estate investment trust’s stock worth $99,000 after acquiring an additional 3,254 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Redwood Trust during the 3rd quarter worth approximately $101,000. 74.34% of the stock is owned by hedge funds and other institutional investors.

Redwood Trust Company Profile

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.