Keefe, Bruyette & Woods Lowers Redwood Trust (NYSE:RWT) Price Target to $7.25

by · The Markets Daily

Redwood Trust (NYSE:RWT – Free Report) had its price objective reduced by Keefe, Bruyette & Woods from $7.75 to $7.25 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have an outperform rating on the real estate investment trust’s stock.

RWT has been the subject of a number of other reports. Raymond James reduced their price objective on shares of Redwood Trust from $9.00 to $8.50 and set a strong-buy rating for the company in a research note on Friday, January 19th. Wells Fargo & Company decreased their price objective on shares of Redwood Trust from $8.00 to $7.00 and set an equal weight rating for the company in a research note on Wednesday, February 21st. Piper Sandler lowered their price objective on shares of Redwood Trust from $7.50 to $7.00 and set a neutral rating on the stock in a research report on Wednesday, February 21st. JMP Securities restated a market outperform rating and issued a $8.00 target price on shares of Redwood Trust in a report on Wednesday. Finally, UBS Group decreased their target price on Redwood Trust from $9.00 to $8.50 and set a buy rating for the company in a research report on Tuesday, March 5th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $7.64.

Read Our Latest Research Report on RWT

Redwood Trust Trading Down 1.7 %

Shares of NYSE RWT opened at $5.73 on Wednesday. The company has a quick ratio of 7.36, a current ratio of 7.36 and a debt-to-equity ratio of 10.12. Redwood Trust has a 12 month low of $5.47 and a 12 month high of $8.30. The company has a market cap of $753.95 million, a price-to-earnings ratio of -47.75 and a beta of 1.48. The business has a fifty day simple moving average of $6.25 and a 200-day simple moving average of $6.75.

Redwood Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 21st were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $0.64 dividend on an annualized basis and a yield of 11.17%. Redwood Trust’s payout ratio is -533.33%.

Institutional Investors Weigh In On Redwood Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in Redwood Trust by 157.1% in the third quarter. Wellington Management Group LLP now owns 4,279,191 shares of the real estate investment trust’s stock worth $30,511,000 after buying an additional 2,614,898 shares during the last quarter. Boston Partners bought a new position in shares of Redwood Trust during the 3rd quarter valued at $12,015,000. Victory Capital Management Inc. lifted its stake in shares of Redwood Trust by 383.2% in the 3rd quarter. Victory Capital Management Inc. now owns 128,334 shares of the real estate investment trust’s stock valued at $915,000 after purchasing an additional 101,774 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Redwood Trust by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,670,825 shares of the real estate investment trust’s stock worth $11,913,000 after purchasing an additional 44,071 shares in the last quarter. Finally, Advisors Preferred LLC acquired a new position in Redwood Trust during the third quarter worth $4,070,000. 74.34% of the stock is owned by hedge funds and other institutional investors.

Redwood Trust Company Profile

(Get Free Report)

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.

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