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

by · The Cerbat Gem

Redwood Trust, Inc. (NYSE:RWT – Get Free Report) has earned a consensus recommendation of “Moderate Buy” from the eight research firms that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $7.64.

Several research firms recently weighed in on RWT. Wells Fargo & Company reduced their target price on Redwood Trust from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday, February 21st. JMP Securities reaffirmed a “market outperform” rating and issued a $8.00 price target on shares of Redwood Trust in a research report on Wednesday. UBS Group dropped their price target on Redwood Trust from $9.00 to $8.50 and set a “buy” rating on the stock in a research report on Tuesday, March 5th. Keefe, Bruyette & Woods dropped their price target on Redwood Trust from $7.75 to $7.25 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Wedbush downgraded Redwood Trust from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $8.00 to $6.50 in a research report on Thursday.

Read Our Latest Report on RWT

Institutional Trading of Redwood Trust

A number of institutional investors and hedge funds have recently modified their holdings of RWT. Bank of Montreal Can grew its position in Redwood Trust by 8.6% in the first quarter. Bank of Montreal Can now owns 34,331 shares of the real estate investment trust’s stock valued at $371,000 after acquiring an additional 2,715 shares during the period. MetLife Investment Management LLC grew its position in Redwood Trust by 51.5% in the first quarter. MetLife Investment Management LLC now owns 59,710 shares of the real estate investment trust’s stock valued at $629,000 after acquiring an additional 20,294 shares during the period. Rhumbline Advisers grew its position in Redwood Trust by 2.6% in the first quarter. Rhumbline Advisers now owns 308,263 shares of the real estate investment trust’s stock valued at $3,246,000 after acquiring an additional 7,950 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Redwood Trust by 14.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 98,861 shares of the real estate investment trust’s stock valued at $1,041,000 after acquiring an additional 12,189 shares during the period. Finally, Vanguard Group Inc. grew its position in Redwood Trust by 1.2% in the first quarter. Vanguard Group Inc. now owns 12,245,804 shares of the real estate investment trust’s stock valued at $128,948,000 after acquiring an additional 150,771 shares during the period. 74.34% of the stock is currently owned by institutional investors.

Redwood Trust Stock Down 1.7 %

RWT opened at $5.73 on Friday. The business has a 50 day moving average price of $6.25 and a 200 day moving average price of $6.75. Redwood Trust has a twelve month low of $5.47 and a twelve month high of $8.30. The company has a debt-to-equity ratio of 10.12, a quick ratio of 7.36 and a current ratio of 7.36. The firm has a market cap of $753.95 million, a P/E ratio of -47.75 and a beta of 1.48.

Redwood Trust Announces Dividend

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

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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