Somewhat Positive Media Coverage Extremely Likely to Affect Redwood Trust (RWT) Stock Price
News stories about Redwood Trust (NYSE:RWT) have trended somewhat positive on Tuesday, AlphaOne reports. The research firm, a subsidiary of Accern, scores the sentiment of press coverage by reviewing more than 20 million news and blog sources in real time. AlphaOne ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Redwood Trust earned a daily sentiment score of 0.06 on AlphaOne’s scale. AlphaOne also gave headlines about the real estate investment trust an impact score of 96 out of 100, indicating that recent press coverage is extremely likely to have an effect on the stock’s share price in the next few days.
These are some of the headlines that may have impacted AlphaOne Sentiment’s scoring:
- Were Analysts Bearish Redwood Trust, Inc (thewestcoastsportsblog.com)
- Shares of RWT Up 55.3% Since Uptrend Call on Shares (mysmartrend.com)
- Redwood Trust, Inc. : RWT-US: Dividend Analysis : June 16th, 2017 (record date) : By the numbers : June 16, 2017 (finance.yahoo.com)
- $0.36 Earnings Per Share Expected for Redwood Trust, Inc. (RWT) This Quarter (americanbankingnews.com)
- Notable Tuesday Option Activity: FMI, YHOO, RWT (marketnewsvideo.com)
Redwood Trust (NYSE RWT) traded down 0.81% during midday trading on Tuesday, hitting $17.05. The company’s stock had a trading volume of 48,456 shares. The firm has a market cap of $1.31 billion, a P/E ratio of 9.69 and a beta of 0.90. The company’s 50 day moving average price is $16.87 and its 200 day moving average price is $16.30. Redwood Trust has a 12 month low of $13.20 and a 12 month high of $17.43.
Redwood Trust (NYSE:RWT) last issued its quarterly earnings data on Thursday, May 4th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.36. Redwood Trust had a net margin of 48.45% and a return on equity of 13.22%. The firm had revenue of $62 million during the quarter, compared to the consensus estimate of $34.89 million. During the same quarter in the previous year, the firm posted $0.28 EPS. Analysts expect that Redwood Trust will post $1.48 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 6.52%. The ex-dividend date is Wednesday, June 14th. Redwood Trust’s dividend payout ratio is currently 62.22%.
Several equities analysts have weighed in on the company. Zacks Investment Research lowered Redwood Trust from a “buy” rating to a “hold” rating in a report on Wednesday, May 10th. ValuEngine downgraded Redwood Trust from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd.
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In other news, Director Karen R. Pallotta bought 3,027 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The stock was bought at an average price of $16.53 per share, with a total value of $50,036.31. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Andrew P. Stone sold 3,730 shares of the company’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $17.24, for a total transaction of $64,305.20. Following the completion of the transaction, the general counsel now directly owns 49,626 shares of the company’s stock, valued at approximately $855,552.24. The disclosure for this sale can be found here. Corporate insiders own 2.33% of the company’s stock.
About Redwood Trust
Redwood Trust, Inc, through its subsidiaries, focuses on investing in mortgage and other real estate related assets. The Company is engaged in mortgage banking activities. The Company operates through three segments: Residential Investments, Residential Mortgage Banking and Commercial. The Residential Investments segment includes a portfolio of investments in residential mortgage-backed securities (RMBS) retained from its Sequoia securitizations.
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