Redwood Trust, Inc. (NYSE:RWT) Receives $8.03 Average PT from Brokerages

Shares of Redwood Trust, Inc. (NYSE:RWT) have received an average recommendation of “Moderate Buy” from the eight research firms that are covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $8.03.

Several analysts have issued reports on the stock. Raymond James boosted their target price on shares of Redwood Trust from $8.50 to $9.50 and gave the company a “strong-buy” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. restated a “neutral” rating and set a $7.00 price target (down from $8.00) on shares of Redwood Trust in a report on Monday, December 9th. StockNews.com upgraded shares of Redwood Trust from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. JMP Securities lifted their price target on Redwood Trust from $8.50 to $9.00 and gave the company a “market outperform” rating in a report on Friday, October 4th. Finally, Wells Fargo & Company upped their price objective on shares of Redwood Trust from $7.50 to $8.50 and gave the stock an “equal weight” rating in a report on Friday, September 20th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets grew its stake in shares of Redwood Trust by 7.2% during the third quarter. BNP Paribas Financial Markets now owns 28,909 shares of the real estate investment trust’s stock worth $223,000 after buying an additional 1,932 shares during the last quarter. Evanson Asset Management LLC boosted its stake in shares of Redwood Trust by 16.7% during the third quarter. Evanson Asset Management LLC now owns 14,000 shares of the real estate investment trust’s stock valued at $108,000 after purchasing an additional 2,000 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Redwood Trust by 65.4% during the third quarter. GAMMA Investing LLC now owns 5,169 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 2,043 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Redwood Trust by 7.8% in the second quarter. Victory Capital Management Inc. now owns 33,849 shares of the real estate investment trust’s stock valued at $220,000 after buying an additional 2,450 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Redwood Trust by 4.6% in the 3rd quarter. Franklin Resources Inc. now owns 72,486 shares of the real estate investment trust’s stock valued at $548,000 after buying an additional 3,206 shares during the last quarter. Institutional investors and hedge funds own 74.34% of the company’s stock.

Redwood Trust Stock Down 1.2 %

RWT stock opened at $6.38 on Tuesday. Redwood Trust has a 12 month low of $5.45 and a 12 month high of $8.15. The firm has a market cap of $843.86 million, a PE ratio of 11.60 and a beta of 1.57. The company has a debt-to-equity ratio of 14.55, a current ratio of 44.36 and a quick ratio of 44.36. The firm has a 50 day simple moving average of $6.93 and a 200 day simple moving average of $7.17.

Redwood Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 23rd were given a dividend of $0.18 per share. The ex-dividend date was Monday, December 23rd. This is a boost from Redwood Trust’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 11.29%. Redwood Trust’s dividend payout ratio is 130.91%.

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.