Redwood Trust (NYSE:RWT) PT Raised to $9.50

Redwood Trust (NYSE:RWT) had its price objective hoisted by Raymond James from $8.50 to $9.50 in a report issued on Thursday morning, Benzinga reports. Raymond James currently has a strong-buy rating on the real estate investment trust’s stock.

A number of other analysts also recently issued reports on RWT. Wedbush lifted their price target on shares of Redwood Trust from $6.50 to $7.00 and gave the company a neutral rating in a report on Friday, August 2nd. JMP Securities boosted their price target on shares of Redwood Trust from $8.00 to $8.50 and gave the stock a market outperform rating in a research report on Friday, July 19th. Piper Sandler increased their price objective on shares of Redwood Trust from $6.50 to $7.50 and gave the company a neutral rating in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Redwood Trust from $7.00 to $7.50 and gave the stock an overweight rating in a report on Tuesday, July 16th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Redwood Trust presently has an average rating of Moderate Buy and a consensus price target of $8.08.

Redwood Trust Stock Performance

NYSE RWT opened at $7.93 on Thursday. The company has a quick ratio of 50.47, a current ratio of 50.47 and a debt-to-equity ratio of 12.97. Redwood Trust has a twelve month low of $5.45 and a twelve month high of $8.15. The business has a 50-day moving average price of $7.37 and a 200-day moving average price of $6.65. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 113.29 and a beta of 1.58.

Redwood Trust (NYSE:RWT) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. Redwood Trust had a return on equity of 4.93% and a net margin of 4.45%. During the same period in the prior year, the business posted $0.14 earnings per share. As a group, equities research analysts predict that Redwood Trust will post 0.5 EPS for the current fiscal year.

Redwood Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 23rd will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $0.68 annualized dividend and a dividend yield of 8.58%. This is a positive change from Redwood Trust’s previous quarterly dividend of $0.16. Redwood Trust’s dividend payout ratio (DPR) is currently 971.43%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Concurrent Investment Advisors LLC bought a new position in shares of Redwood Trust during the second quarter valued at approximately $69,000. MQS Management LLC purchased a new stake in Redwood Trust during the first quarter worth $72,000. Algert Global LLC bought a new stake in Redwood Trust during the 2nd quarter valued at $86,000. Ameritas Investment Partners Inc. increased its holdings in shares of Redwood Trust by 26.5% in the 1st quarter. Ameritas Investment Partners Inc. now owns 14,324 shares of the real estate investment trust’s stock valued at $91,000 after acquiring an additional 3,000 shares during the period. Finally, Quest Partners LLC bought a new position in shares of Redwood Trust in the 4th quarter worth $107,000. Hedge funds and other institutional investors own 74.34% of the company’s stock.

Redwood Trust Company Profile

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.