FY2024 Earnings Forecast for Redwood Trust Issued By Wedbush

Redwood Trust, Inc. (NYSE:RWT) – Investment analysts at Wedbush raised their FY2024 earnings estimates for Redwood Trust in a research report issued to clients and investors on Thursday, October 31st. Wedbush analyst J. Mccanless now expects that the real estate investment trust will earn $0.55 per share for the year, up from their prior estimate of $0.50. Wedbush currently has a “Neutral” rating and a $7.00 price objective on the stock. The consensus estimate for Redwood Trust’s current full-year earnings is $0.54 per share. Wedbush also issued estimates for Redwood Trust’s Q4 2024 earnings at $0.16 EPS, Q1 2025 earnings at $0.17 EPS, Q2 2025 earnings at $0.19 EPS, Q3 2025 earnings at $0.20 EPS, Q4 2025 earnings at $0.19 EPS, FY2025 earnings at $0.75 EPS and FY2026 earnings at $0.85 EPS.

Other equities research analysts have also recently issued reports about the stock. Raymond James boosted their price objective on shares of Redwood Trust from $8.50 to $9.50 and gave the company a “strong-buy” rating in a research report on Thursday, September 19th. StockNews.com downgraded shares of Redwood Trust from a “hold” rating to a “sell” rating in a report on Friday, November 1st. 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 research report on Friday, September 20th. JPMorgan Chase & Co. upped their price target on shares of Redwood Trust from $7.50 to $8.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, Piper Sandler increased their price objective on shares of Redwood Trust from $6.50 to $7.50 and gave the stock a “neutral” rating in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Redwood Trust currently has a consensus rating of “Moderate Buy” and an average price target of $8.19.

Redwood Trust Trading Down 0.1 %

Shares of Redwood Trust stock opened at $7.23 on Monday. The firm has a market capitalization of $955.26 million, a PE ratio of 13.14 and a beta of 1.59. The company has a debt-to-equity ratio of 13.75, a current ratio of 50.47 and a quick ratio of 50.47. Redwood Trust has a 52-week low of $5.45 and a 52-week high of $8.15. The company’s fifty day moving average price is $7.59 and its two-hundred day moving average price is $6.98.

Redwood Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 9.41%. The ex-dividend date was Monday, September 23rd. This is a positive change from Redwood Trust’s previous quarterly dividend of $0.16. Redwood Trust’s dividend payout ratio (DPR) is 123.64%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RWT. GAMMA Investing LLC grew its holdings in Redwood Trust by 65.4% in the third quarter. GAMMA Investing LLC now owns 5,169 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 2,043 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new position in Redwood Trust during the second quarter worth about $69,000. MQS Management LLC purchased a new position in Redwood Trust during the first quarter worth about $72,000. Algert Global LLC purchased a new position in Redwood Trust during the second quarter worth about $86,000. Finally, Ameritas Investment Partners Inc. lifted its position in Redwood Trust by 26.5% during the first quarter. Ameritas Investment Partners Inc. now owns 14,324 shares of the real estate investment trust’s stock worth $91,000 after buying an additional 3,000 shares during the period. Institutional investors and hedge funds 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.