Redwood Trust, Inc. (NYSE:RWT) Receives Average Rating of “Moderate Buy” from Analysts

Redwood Trust, Inc. (NYSE:RWT) has been assigned an average rating of “Moderate Buy” from the nine analysts that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $8.19.

A number of analysts have commented on the stock. Raymond James upped 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, September 19th. JPMorgan Chase & Co. upped their target price on shares of Redwood Trust from $7.50 to $8.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Piper Sandler upped their target price on shares of Redwood Trust from $6.50 to $7.50 and gave the company a “neutral” rating in a report on Monday, August 5th. StockNews.com upgraded shares of Redwood Trust from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company upped their price target 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.

Redwood Trust Stock Up 0.8 %

Shares of RWT stock opened at $7.17 on Monday. Redwood Trust has a 12 month low of $5.45 and a 12 month high of $8.15. The stock has a market cap of $947.69 million, a P/E ratio of 12.93 and a beta of 1.59. The company has a current ratio of 44.36, a quick ratio of 44.36 and a debt-to-equity ratio of 14.55. The company has a 50 day simple moving average of $7.50 and a two-hundred day simple moving average of $7.07.

Redwood Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were given a dividend of $0.17 per share. This is a positive change from Redwood Trust’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 9.49%. Redwood Trust’s dividend payout ratio is currently 123.64%.

Institutional Investors Weigh In On Redwood Trust

A number of hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC raised its stake in Redwood Trust by 0.8% during the third quarter. Geode Capital Management LLC now owns 3,038,438 shares of the real estate investment trust’s stock valued at $23,492,000 after purchasing an additional 25,444 shares in the last quarter. Wellington Management Group LLP raised its stake in Redwood Trust by 6.9% during the third quarter. Wellington Management Group LLP now owns 14,611,264 shares of the real estate investment trust’s stock valued at $112,945,000 after purchasing an additional 941,223 shares in the last quarter. State Street Corp raised its stake in Redwood Trust by 2.0% during the third quarter. State Street Corp now owns 5,189,667 shares of the real estate investment trust’s stock valued at $40,116,000 after purchasing an additional 102,274 shares in the last quarter. Systematic Financial Management LP purchased a new stake in Redwood Trust during the third quarter valued at $1,217,000. Finally, NFC Investments LLC raised its stake in Redwood Trust by 127.7% during the third quarter. NFC Investments LLC now owns 484,975 shares of the real estate investment trust’s stock valued at $3,749,000 after purchasing an additional 271,975 shares in the last quarter. Hedge funds and other 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.