Analysts Set Redwood Trust, Inc. (NYSE:RWT) PT at $7.75

Shares of Redwood Trust, Inc. (NYSE:RWT) have received a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $7.75.

RWT has been the subject of a number of research analyst reports. StockNews.com upgraded Redwood Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. decreased their price objective on shares of Redwood Trust from $7.00 to $6.50 and set a “neutral” rating for the company in a research report on Tuesday, January 21st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $8.00 target price on shares of Redwood Trust in a research note on Friday, February 14th.

Institutional Trading of Redwood Trust

Large investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Redwood Trust by 33.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 388,768 shares of the real estate investment trust’s stock worth $2,539,000 after purchasing an additional 97,205 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of Redwood Trust by 44.4% in the 4th quarter. ProShare Advisors LLC now owns 39,695 shares of the real estate investment trust’s stock valued at $259,000 after buying an additional 12,214 shares during the period. Millennium Management LLC boosted its stake in shares of Redwood Trust by 52.5% in the fourth quarter. Millennium Management LLC now owns 88,003 shares of the real estate investment trust’s stock worth $575,000 after buying an additional 30,286 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Redwood Trust by 10.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,726,253 shares of the real estate investment trust’s stock worth $11,272,000 after acquiring an additional 169,729 shares during the period. Finally, Focus Partners Wealth raised its position in Redwood Trust by 14.1% during the fourth quarter. Focus Partners Wealth now owns 20,164 shares of the real estate investment trust’s stock valued at $132,000 after acquiring an additional 2,488 shares in the last quarter. 74.34% of the stock is owned by hedge funds and other institutional investors.

Redwood Trust Stock Down 1.9 %

Shares of Redwood Trust stock opened at $6.01 on Friday. The company has a quick ratio of 44.36, a current ratio of 44.36 and a debt-to-equity ratio of 14.09. The company has a market cap of $795.78 million, a P/E ratio of 18.20 and a beta of 1.63. The firm’s 50 day moving average price is $6.42 and its 200-day moving average price is $6.91. Redwood Trust has a 52-week low of $5.46 and a 52-week high of $8.15.

Redwood Trust (NYSE:RWT) last released its quarterly earnings results on Thursday, February 13th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.03). Redwood Trust had a return on equity of 6.91% and a net margin of 9.35%. The firm had revenue of $27.60 million during the quarter, compared to analysts’ expectations of $26.00 million. On average, sell-side analysts predict that Redwood Trust will post 0.78 EPS for the current fiscal year.

Redwood Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 24th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Monday, March 24th. This represents a $0.72 annualized dividend and a yield of 11.99%. Redwood Trust’s dividend payout ratio (DPR) is presently 218.18%.

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.