Redwood Trust (NYSE:RWT) Stock Crosses Above 200-Day Moving Average of $6.53

Redwood Trust, Inc. (NYSE:RWT)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.53 and traded as high as $6.68. Redwood Trust shares last traded at $6.55, with a volume of 934,674 shares traded.

Analysts Set New Price Targets

RWT has been the topic of a number of research analyst reports. Wedbush reiterated a “neutral” rating and set a $6.50 price objective on shares of Redwood Trust in a research note on Wednesday, May 1st. Wells Fargo & Company decreased their price target on Redwood Trust from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 21st. UBS Group cut their price objective on Redwood Trust from $9.00 to $8.50 and set a “buy” rating on the stock in a research note on Tuesday, March 5th. JMP Securities reiterated a “market outperform” rating and issued a $8.00 target price on shares of Redwood Trust in a research report on Thursday, April 18th. Finally, Keefe, Bruyette & Woods dropped their price target on Redwood Trust from $7.75 to $7.25 and set an “outperform” rating on the stock in a research report on Wednesday, April 10th. 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $7.66.

Redwood Trust Price Performance

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 stock has a market capitalization of $865.58 million, a price-to-earnings ratio of 93.57 and a beta of 1.56. The company has a 50-day simple moving average of $6.19 and a two-hundred day simple moving average of $6.53.

Redwood Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 21st will be issued a $0.16 dividend. The ex-dividend date is Friday, June 21st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 9.77%. Redwood Trust’s dividend payout ratio (DPR) is presently 914.29%.

Insider Buying and Selling at Redwood Trust

In other news, CFO Brooke Carillo purchased 15,000 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were bought at an average price of $6.25 per share, for a total transaction of $93,750.00. Following the completion of the purchase, the chief financial officer now owns 56,772 shares of the company’s stock, valued at $354,825. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. EMC Capital Management lifted its holdings in Redwood Trust by 11.3% in the first quarter. EMC Capital Management now owns 29,377 shares of the real estate investment trust’s stock worth $187,000 after purchasing an additional 2,989 shares during the period. Quadrature Capital Ltd raised its position in shares of Redwood Trust by 19.9% during the 1st quarter. Quadrature Capital Ltd now owns 48,392 shares of the real estate investment trust’s stock worth $308,000 after buying an additional 8,018 shares in the last quarter. Sculati Wealth Management LLC lifted its stake in shares of Redwood Trust by 5.1% in the 1st quarter. Sculati Wealth Management LLC now owns 171,159 shares of the real estate investment trust’s stock worth $1,090,000 after acquiring an additional 8,355 shares during the period. MQS Management LLC bought a new position in shares of Redwood Trust in the first quarter valued at approximately $72,000. Finally, CANADA LIFE ASSURANCE Co increased its stake in shares of Redwood Trust by 16.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 162,789 shares of the real estate investment trust’s stock valued at $1,036,000 after acquiring an additional 23,593 shares during the period. Institutional investors own 74.34% of the company’s stock.

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.