Redwood Trust Inc. (RWT) Trading Up 1.8%
Redwood Trust Inc. (NYSE:RWT) shares were up 1.8% on Tuesday . The company traded as high as $14.69 and last traded at $14.66, with a volume of 128,490 shares trading hands. The stock had previously closed at $14.40.
A number of analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Redwood Trust from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Wednesday, July 13th. Nomura upgraded shares of Redwood Trust from a “neutral” rating to a “buy” rating and lifted their price target for the company from $14.00 to $16.00 in a report on Wednesday, May 18th. Deutsche Bank AG reduced their price target on shares of Redwood Trust from $18.00 to $17.80 and set a “buy” rating on the stock in a report on Friday, May 13th. Maxim Group downgraded shares of Redwood Trust from a “buy” rating to a “hold” rating in a report on Wednesday, August 10th. Finally, Keefe, Bruyette & Woods downgraded shares of Redwood Trust from an “outperform” rating to a “market perform” rating and set a $14.50 price target on the stock. in a report on Tuesday, July 19th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $15.55.
The firm has a 50 day moving average price of $14.44 and a 200-day moving average price of $13.37. The firm has a market cap of $1.13 billion and a PE ratio of 10.69.
Redwood Trust (NYSE:RWT) last released its quarterly earnings data on Monday, August 8th. The company reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.10. During the same quarter last year, the business posted $0.31 earnings per share. Analysts anticipate that Redwood Trust Inc. will post $1.35 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.63%.
Redwood Trust, Inc, together with its subsidiaries, focuses on investing in mortgage- and other real estate-related assets. The Company operates through three segments: residential mortgage banking, residential investments, and commercial mortgage banking and investments. Its residential mortgage banking segment consists of operating a mortgage loan conduit that acquires residential whole loans from third-party originators for subsequent sale, securitization or transfer to its investment portfolio.