Redwood Trust, Inc. Plans Quarterly Dividend of $0.18 (NYSE:RWT)

Redwood Trust, Inc. (NYSE:RWT) declared a quarterly dividend on Thursday, June 11th. Investors of record on Tuesday, June 23rd will be paid a dividend of 0.18 per share by the real estate investment trust on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 13.9%. The ex-dividend date of this dividend is Tuesday, June 23rd.

Redwood Trust has decreased its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 1 years. Redwood Trust has a dividend payout ratio of 86.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Redwood Trust to earn $1.34 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 53.7%.

Redwood Trust Price Performance

Shares of Redwood Trust stock opened at $5.20 on Friday. The stock has a 50 day moving average of $5.53 and a 200 day moving average of $5.66. Redwood Trust has a 12 month low of $5.00 and a 12 month high of $6.97. The firm has a market cap of $650.52 million, a PE ratio of -6.66 and a beta of 1.37. The company has a current ratio of 59.63, a quick ratio of 59.63 and a debt-to-equity ratio of 28.42.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Piper Sandler increased their price target on Redwood Trust from $6.00 to $6.50 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Keefe, Bruyette & Woods increased their price target on Redwood Trust from $5.75 to $7.00 and gave the company a “market perform” rating in a research note on Wednesday, February 18th. Wall Street Zen raised Redwood Trust from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. JonesTrading reissued a “buy” rating and set a $6.25 price target on shares of Redwood Trust in a research note on Thursday, April 30th. Finally, Citigroup reissued a “market perform” rating on shares of Redwood Trust in a research note on Wednesday, February 18th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $6.89.

Redwood Trust Company Profile

Redwood Trust, Inc (NYSE:RWT) is a publicly traded real estate investment trust specializing in the U.S. residential mortgage market. Headquartered in Mill Valley, California, the company focuses on investing in a diversified portfolio of residential mortgage assets, including whole loans, agency and non-agency mortgage-backed securities, and structured credit products.

The company’s core activities encompass the acquisition, financing, and management of prime residential mortgage whole loans and mortgage-backed securities.