Redwood Trust (NYSE:RWT) Earns Neutral Rating from Wedbush

Wedbush reiterated their neutral rating on shares of Redwood Trust (NYSE:RWT) in a research note published on Wednesday morning, Benzinga reports. Wedbush currently has a $6.50 price objective on the real estate investment trust’s stock.

A number of other analysts also recently issued reports on the company. Raymond James decreased their target price on Redwood Trust from $9.00 to $8.50 and set a strong-buy rating for the company in a research report on Friday, January 19th. Wells Fargo & Company dropped their price objective on shares of Redwood Trust from $8.00 to $7.00 and set an equal weight rating on the stock in a report on Wednesday, February 21st. Keefe, Bruyette & Woods reduced their target price on shares of Redwood Trust from $7.75 to $7.25 and set an outperform rating for the company in a research note on Wednesday, April 10th. UBS Group lowered their price target on shares of Redwood Trust from $9.00 to $8.50 and set a buy rating on the stock in a research report on Tuesday, March 5th. Finally, Piper Sandler cut their price objective on shares of Redwood Trust from $7.50 to $7.00 and set a neutral rating for the company in a report on Wednesday, February 21st. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $7.66.

Redwood Trust Price Performance

Redwood Trust stock opened at $6.34 on Wednesday. The stock has a market cap of $834.20 million, a P/E ratio of 90.57 and a beta of 1.50. The company has a quick ratio of 7.36, a current ratio of 10.79 and a debt-to-equity ratio of 10.08. The company’s 50 day moving average price is $6.03 and its two-hundred day moving average price is $6.61. Redwood Trust has a 52 week low of $5.45 and a 52 week high of $8.30.

Redwood Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 21st were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 10.09%. The ex-dividend date of this dividend was Wednesday, March 20th. Redwood Trust’s dividend payout ratio (DPR) is presently 914.29%.

Institutional Trading of Redwood Trust

Several institutional investors have recently bought and sold shares of RWT. Simon Quick Advisors LLC boosted its holdings in shares of Redwood Trust by 6.3% in the fourth quarter. Simon Quick Advisors LLC now owns 25,246 shares of the real estate investment trust’s stock worth $187,000 after buying an additional 1,488 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Redwood Trust by 2.4% during the 4th quarter. State of Alaska Department of Revenue now owns 72,984 shares of the real estate investment trust’s stock worth $540,000 after acquiring an additional 1,715 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its position in shares of Redwood Trust by 8.2% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 24,292 shares of the real estate investment trust’s stock valued at $180,000 after acquiring an additional 1,847 shares during the period. Mutual of America Capital Management LLC increased its stake in shares of Redwood Trust by 9.1% in the 1st quarter. Mutual of America Capital Management LLC now owns 22,653 shares of the real estate investment trust’s stock worth $144,000 after purchasing an additional 1,889 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Redwood Trust by 0.4% in the 4th quarter. Principal Financial Group Inc. now owns 617,725 shares of the real estate investment trust’s stock worth $4,577,000 after purchasing an additional 2,296 shares in the last quarter. 74.34% of the stock is owned by hedge funds and other institutional investors.

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.