According to Zacks, “REDWOOD TRUST INC. is a self-advised and self-managed real estate investment trust. It specializes in acquiring and managing real estate mortgage assets which may be acquired as whole loans or as mortgage securities reperesenting interest in or obligations backed by pools of mortgage loans. “
Several other analysts have also issued reports on RWT. Credit Suisse Group boosted their price target on Redwood Trust from $6.50 to $8.00 and gave the company an outperform rating in a report on Monday, June 8th. ValuEngine raised Redwood Trust from a sell rating to a hold rating in a report on Monday, May 11th. Piper Sandler upped their price objective on Redwood Trust from $5.50 to $7.50 and gave the stock a neutral rating in a research note on Friday, June 26th. Raymond James upped their price objective on Redwood Trust from $7.00 to $8.00 and gave the stock an outperform rating in a research note on Friday, June 12th. Finally, JMP Securities dropped their price objective on Redwood Trust from $10.00 to $5.00 and set a market outperform rating for the company in a research note on Friday, April 3rd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $9.38.
NYSE:RWT opened at $7.00 on Tuesday. The stock has a 50-day simple moving average of $5.90 and a two-hundred day simple moving average of $10.72. Redwood Trust has a 52-week low of $2.14 and a 52-week high of $18.01. The company has a debt-to-equity ratio of 12.29, a quick ratio of 4.36 and a current ratio of 4.36. The firm has a market capitalization of $793.47 million, a PE ratio of -0.96 and a beta of 1.17.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 22nd were given a $0.125 dividend. The ex-dividend date of this dividend was Friday, June 19th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 7.14%. Redwood Trust’s payout ratio is 31.65%.
In related news, Director Fred Matera acquired 13,000 shares of Redwood Trust stock in a transaction on Friday, May 15th. The stock was acquired at an average price of $3.80 per share, for a total transaction of $49,400.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.50% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Verus Capital Partners LLC increased its stake in shares of Redwood Trust by 89.2% in the 1st quarter. Verus Capital Partners LLC now owns 5,053 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 2,382 shares in the last quarter. NumerixS Investment Technologies Inc boosted its holdings in Redwood Trust by 38.9% in the 4th quarter. NumerixS Investment Technologies Inc now owns 2,500 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 700 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Redwood Trust by 60.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,461 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 3,563 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in Redwood Trust in the 1st quarter worth about $49,000. Finally, Mount Yale Investment Advisors LLC acquired a new stake in Redwood Trust in the 1st quarter worth about $52,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.
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 two segments, Investment Portfolio and Residential Mortgage Banking. The Investment Portfolio segment offers a portfolio of investments in residential mortgage-backed securities retained from Sequoia securitizations, as well as issued by third parties and other credit risk-related investments; and invests directly in residential mortgage loans.
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