Redwood Trust, Inc. (NYSE:RWT – Get Free Report) announced a quarterly dividend on Wednesday, September 11th, RTT News reports. Investors of record on Monday, September 23rd will be given a dividend of 0.17 per share by the real estate investment trust on Monday, September 30th. This represents a $0.68 dividend on an annualized basis and a yield of 8.58%. The ex-dividend date is Monday, September 23rd. This is an increase from Redwood Trust’s previous quarterly dividend of $0.16.
Redwood Trust has a dividend payout ratio of 91.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Redwood Trust to earn $0.74 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 91.9%.
Redwood Trust Stock Down 1.6 %
Shares of NYSE RWT opened at $7.93 on Friday. The company has a quick ratio of 50.47, a current ratio of 50.47 and a debt-to-equity ratio of 12.97. The stock has a market capitalization of $1.05 billion, a PE ratio of 113.29 and a beta of 1.58. The firm has a fifty day moving average of $7.37 and a 200-day moving average of $6.64. Redwood Trust has a 52-week low of $5.45 and a 52-week high of $8.15.
Analysts Set New Price Targets
Several research firms recently commented on RWT. Wells Fargo & Company raised their price target on shares of Redwood Trust from $7.50 to $8.50 and gave the company an “equal weight” rating in a report on Friday. Wedbush raised their target price on shares of Redwood Trust from $6.50 to $7.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Raymond James lifted their target price on shares of Redwood Trust from $8.50 to $9.50 and gave the company a “strong-buy” rating in a report on Thursday. Piper Sandler increased their price target on Redwood Trust from $6.50 to $7.50 and gave the company a “neutral” rating in a report on Monday, August 5th. Finally, JMP Securities boosted their price target on Redwood Trust from $8.00 to $8.50 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $8.08.
Get Our Latest Analysis on Redwood Trust
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.
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