Redwood Trust, Inc. (NYSE:RWT) Receives $7.66 Average Target Price from Brokerages

Shares of Redwood Trust, Inc. (NYSE:RWT) have earned an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $7.66.

A number of research firms have commented on RWT. JMP Securities reaffirmed a “market outperform” rating and set a $8.00 price objective on shares of Redwood Trust in a research note on Thursday, April 18th. Keefe, Bruyette & Woods decreased 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 note on Wednesday, April 10th. Raymond James cut their target price on shares of 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. Piper Sandler lowered their price target on Redwood Trust from $7.50 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, February 21st. Finally, Wells Fargo & Company decreased their price objective on Redwood Trust from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 21st.

Redwood Trust Stock Performance

RWT opened at $6.27 on Thursday. The company has a quick ratio of 7.36, a current ratio of 10.79 and a debt-to-equity ratio of 10.08. The firm has a market cap of $824.35 million, a PE ratio of 89.50 and a beta of 1.50. The business has a fifty day simple moving average of $6.05 and a 200-day simple moving average of $6.60. Redwood Trust has a fifty-two week low of $5.45 and a fifty-two week high of $8.30.

Redwood Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders 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 dividend on an annualized basis and a dividend yield of 10.22%. Redwood Trust’s dividend payout ratio is currently 914.29%.

Institutional Trading of Redwood Trust

Institutional investors and hedge funds have recently modified their holdings of the company. Simon Quick Advisors LLC increased its position in Redwood Trust by 6.3% during the fourth quarter. Simon Quick Advisors LLC now owns 25,246 shares of the real estate investment trust’s stock worth $187,000 after acquiring an additional 1,488 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of Redwood Trust by 2.4% in the fourth quarter. State of Alaska Department of Revenue now owns 72,984 shares of the real estate investment trust’s stock valued at $540,000 after buying an additional 1,715 shares during the period. Dynamic Technology Lab Private Ltd grew its position in Redwood Trust by 8.2% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 24,292 shares of the real estate investment trust’s stock worth $180,000 after buying an additional 1,847 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in Redwood Trust by 9.1% during the first quarter. Mutual of America Capital Management LLC now owns 22,653 shares of the real estate investment trust’s stock valued at $144,000 after acquiring an additional 1,889 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of Redwood Trust by 0.4% in the 4th quarter. Principal Financial Group Inc. now owns 617,725 shares of the real estate investment trust’s stock worth $4,577,000 after acquiring an additional 2,296 shares during the period. 74.34% of the stock is currently 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.