Redwood Trust, Inc. (NYSE:RWT) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Redwood Trust, Inc. (NYSE:RWT) have earned an average rating of “Moderate Buy” from the eight brokerages that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $7.66.

Several research firms have recently issued reports on RWT. Wedbush restated a “neutral” rating and set a $6.50 target price on shares of Redwood Trust in a research report on Wednesday, May 1st. Keefe, Bruyette & Woods cut their price objective on Redwood Trust from $7.75 to $7.25 and set an “outperform” rating on the stock in a report on Wednesday, April 10th. JMP Securities reiterated a “market outperform” rating and set a $8.00 price objective on shares of Redwood Trust in a report on Thursday, April 18th. Finally, 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 report on Tuesday, March 5th.

Redwood Trust Price Performance

Shares of RWT stock opened at $6.49 on Friday. The firm has a market cap of $857.65 million, a price-to-earnings ratio of 92.71 and a beta of 1.56. Redwood Trust has a 12 month low of $5.45 and a 12 month high of $8.30. The stock has a 50-day moving average price of $6.22 and a 200 day moving average price of $6.53. The company has a quick ratio of 9.09, a current ratio of 9.09 and a debt-to-equity ratio of 10.66.

Redwood Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 21st will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 9.86%. The ex-dividend date is Friday, June 21st. Redwood Trust’s dividend payout ratio is currently 914.29%.

Insider Transactions at Redwood Trust

In other Redwood Trust news, CFO Brooke Carillo bought 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were acquired at an average cost of $6.25 per share, with a total value of $93,750.00. Following the acquisition, the chief financial officer now owns 56,772 shares of the company’s stock, valued at $354,825. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RWT. International Assets Investment Management LLC grew its holdings in Redwood Trust by 641.0% in the 4th quarter. International Assets Investment Management LLC now owns 3,705 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 3,205 shares in the last quarter. MQS Management LLC acquired a new stake in shares of Redwood Trust during the 1st quarter worth $72,000. Ameritas Investment Partners Inc. grew its holdings in shares of Redwood Trust by 26.5% during the 1st quarter. Ameritas Investment Partners Inc. now owns 14,324 shares of the real estate investment trust’s stock worth $91,000 after purchasing an additional 3,000 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Redwood Trust during the 4th quarter worth $107,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Redwood Trust during the 3rd quarter worth $129,000. 74.34% of the stock is owned by institutional investors and hedge funds.

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 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.