Redwood Trust, Inc. (RWT) To Go Ex-Dividend on June 21st

Redwood Trust, Inc. (NYSE:RWT) announced a quarterly dividend on Tuesday, June 11th, RTT News reports. Shareholders of record on Friday, June 21st will be paid a dividend of 0.16 per share by the real estate investment trust on Friday, June 28th. This represents a $0.64 annualized dividend and a dividend yield of 9.77%. The ex-dividend date of this dividend is Friday, June 21st.

Redwood Trust has a dividend payout ratio of 85.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Redwood Trust to earn $0.70 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 91.4%.

Redwood Trust Stock Down 1.8 %

Shares of NYSE RWT opened at $6.55 on Wednesday. Redwood Trust has a 12-month low of $5.45 and a 12-month high of $8.30. The company has a market capitalization of $865.58 million, a PE ratio of 93.57 and a beta of 1.56. The company has a debt-to-equity ratio of 10.66, a current ratio of 9.09 and a quick ratio of 9.09. The firm’s 50-day moving average is $6.19 and its two-hundred day moving average is $6.53.

Insider Transactions at Redwood Trust

In other Redwood Trust news, CFO Brooke Carillo acquired 15,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was bought at an average price of $6.25 per share, with a total value of $93,750.00. Following the completion of the transaction, the chief financial officer now directly owns 56,772 shares of the company’s stock, valued at $354,825. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on RWT shares. JMP Securities reissued a “market outperform” rating and issued a $8.00 price objective on shares of Redwood Trust in a research report on Thursday, April 18th. Wells Fargo & Company cut their price objective on shares of 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. UBS Group cut their price objective on shares of Redwood Trust from $9.00 to $8.50 and set a “buy” rating for the company in a research report on Tuesday, March 5th. Keefe, Bruyette & Woods dropped their price target 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, Piper Sandler dropped 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. Four investment 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $7.66.

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.