Redwood Trust, Inc. (NYSE:RWT – Get Free Report) 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.
Check Out Our Latest Research Report on RWT
Redwood Trust Stock Up 0.8 %
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.
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