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

Shares of Redwood Trust, Inc. (NYSE:RWT) have been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $8.03.

Several analysts have commented on the stock. Raymond James raised their target price on shares of Redwood Trust from $8.50 to $9.50 and gave the stock a “strong-buy” rating in a report on Thursday, September 19th. Wells Fargo & Company boosted their price objective on shares of Redwood Trust from $7.50 to $8.50 and gave the company an “equal weight” rating in a research report on Friday, September 20th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $7.00 target price (down previously from $8.00) on shares of Redwood Trust in a report on Monday, December 9th. JMP Securities lifted their price target on Redwood Trust from $8.50 to $9.00 and gave the company a “market outperform” rating in a research note on Friday, October 4th. Finally, StockNews.com raised Redwood Trust from a “sell” rating to a “hold” rating in a research report on Monday, November 11th.

Redwood Trust Trading Down 1.8 %

NYSE RWT opened at $6.52 on Tuesday. Redwood Trust has a one year low of $5.45 and a one year high of $8.15. The company has a debt-to-equity ratio of 14.55, a current ratio of 44.36 and a quick ratio of 44.36. The firm has a market cap of $862.38 million, a P/E ratio of 11.85 and a beta of 1.57. The stock’s 50-day moving average is $7.01 and its 200-day moving average is $7.18.

Redwood Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 23rd were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 11.04%. This is an increase from Redwood Trust’s previous quarterly dividend of $0.17. The ex-dividend date was Monday, December 23rd. Redwood Trust’s dividend payout ratio (DPR) is currently 130.91%.

Institutional Trading of Redwood Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. acquired a new stake in shares of Redwood Trust in the third quarter valued at approximately $39,000. GAMMA Investing LLC lifted its holdings in Redwood Trust by 65.4% during the 3rd 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. Algert Global LLC bought a new position in Redwood Trust during the second quarter worth $86,000. Creative Planning acquired a new position in shares of Redwood Trust in the third quarter valued at $91,000. Finally, Verition Fund Management LLC bought a new position in shares of Redwood Trust in the third quarter valued at about $101,000. 74.34% of the stock is owned by institutional investors.

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.