Redwood Trust, Inc. (NYSE:RWT) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Redwood Trust, Inc. (NYSE:RWT) have been given a consensus recommendation of “Moderate Buy” by the ten analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $6.1071.

Several research firms have recently issued reports on RWT. Zacks Research downgraded shares of Redwood Trust from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Citizens Jmp reduced their price objective on shares of Redwood Trust from $7.00 to $6.00 and set a “market outperform” rating on the stock in a research note on Wednesday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Redwood Trust in a research report on Wednesday, June 24th. JonesTrading reaffirmed a “buy” rating and set a $6.25 target price on shares of Redwood Trust in a report on Thursday, April 30th. Finally, Keefe, Bruyette & Woods upgraded Redwood Trust from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $7.00 to $6.00 in a research report on Thursday.

Institutional Trading of Redwood Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vident Advisory LLC grew its stake in shares of Redwood Trust by 4.7% in the 4th quarter. Vident Advisory LLC now owns 39,606 shares of the real estate investment trust’s stock valued at $219,000 after buying an additional 1,773 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Redwood Trust by 18.5% in the first quarter. Janney Montgomery Scott LLC now owns 15,113 shares of the real estate investment trust’s stock worth $85,000 after acquiring an additional 2,363 shares in the last quarter. Inceptionr LLC grew its stake in Redwood Trust by 10.7% in the third quarter. Inceptionr LLC now owns 26,377 shares of the real estate investment trust’s stock valued at $153,000 after acquiring an additional 2,560 shares during the period. Choreo LLC increased its holdings in shares of Redwood Trust by 29.4% during the fourth quarter. Choreo LLC now owns 13,893 shares of the real estate investment trust’s stock valued at $77,000 after acquiring an additional 3,158 shares in the last quarter. Finally, Clearstead Advisors LLC raised its position in shares of Redwood Trust by 192.5% during the fourth quarter. Clearstead Advisors LLC now owns 5,428 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 3,572 shares during the period. Institutional investors and hedge funds own 74.34% of the company’s stock.

Redwood Trust Trading Up 0.7%

NYSE:RWT traded up $0.04 during mid-day trading on Friday, hitting $5.12. 3,203,559 shares of the company’s stock were exchanged, compared to its average volume of 4,347,620. Redwood Trust has a fifty-two week low of $4.19 and a fifty-two week high of $6.97. The company has a current ratio of 59.63, a quick ratio of 59.63 and a debt-to-equity ratio of 28.42. The firm has a market capitalization of $640.50 million, a P/E ratio of -6.56 and a beta of 1.37. The company has a 50 day simple moving average of $5.14 and a 200-day simple moving average of $5.56.

Redwood Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 14.1%. The ex-dividend date of this dividend was Tuesday, June 23rd. Redwood Trust’s payout ratio is currently -92.31%.

About Redwood Trust

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.