Zacks: Analysts Anticipate Redwood Trust, Inc. (RWT) Will Post Earnings of $0.38 Per Share

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Equities analysts expect Redwood Trust, Inc. (NYSE:RWT) to post earnings per share (EPS) of $0.38 for the current quarter, Zacks reports. Zero analysts have made estimates for Redwood Trust’s earnings. Redwood Trust posted earnings per share of $0.35 in the same quarter last year, which would indicate a positive year over year growth rate of 8.6%. The firm is scheduled to announce its next earnings report on Monday, November 5th.

On average, analysts expect that Redwood Trust will report full-year earnings of $1.78 per share for the current year. For the next fiscal year, analysts forecast that the company will report earnings of $1.54 per share. Zacks’ earnings per share averages are an average based on a survey of research analysts that follow Redwood Trust.

Redwood Trust (NYSE:RWT) last released its quarterly earnings results on Tuesday, August 7th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.02. The company had revenue of $55.00 million during the quarter. Redwood Trust had a net margin of 37.60% and a return on equity of 12.65%. During the same period in the previous year, the company earned $0.35 earnings per share.

A number of equities research analysts have weighed in on the stock. ValuEngine cut shares of Redwood Trust from a “hold” rating to a “sell” rating in a report on Tuesday, September 18th. Zacks Investment Research upgraded shares of Redwood Trust from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Friday, August 10th. Finally, Compass Point set a $18.00 price objective on shares of Redwood Trust and gave the stock a “hold” rating in a report on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Redwood Trust presently has an average rating of “Hold” and an average price target of $17.67.

Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in shares of Redwood Trust during the first quarter valued at approximately $148,000. Schwab Charles Investment Management Inc. grew its holdings in shares of Redwood Trust by 7.3% during the first quarter. Schwab Charles Investment Management Inc. now owns 618,397 shares of the real estate investment trust’s stock valued at $9,567,000 after buying an additional 42,122 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Redwood Trust by 1.8% during the first quarter. Northern Trust Corp now owns 935,644 shares of the real estate investment trust’s stock valued at $14,475,000 after buying an additional 16,564 shares during the last quarter. Brinker Capital Inc. purchased a new stake in shares of Redwood Trust during the first quarter valued at approximately $629,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of Redwood Trust by 6.1% during the first quarter. Russell Investments Group Ltd. now owns 94,425 shares of the real estate investment trust’s stock valued at $1,461,000 after buying an additional 5,466 shares during the last quarter. Institutional investors and hedge funds own 80.82% of the company’s stock.

RWT traded up $0.12 during midday trading on Friday, reaching $16.24. The company’s stock had a trading volume of 652,700 shares, compared to its average volume of 745,601. The stock has a market cap of $1.33 billion, a PE ratio of 11.68 and a beta of 0.72. The company has a debt-to-equity ratio of 3.82, a quick ratio of 3.74 and a current ratio of 3.74. Redwood Trust has a 1 year low of $14.29 and a 1 year high of $17.50.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 7.39%. The ex-dividend date of this dividend is Thursday, September 13th. Redwood Trust’s dividend payout ratio (DPR) is presently 86.33%.

Redwood Trust Company Profile

Redwood Trust, Inc, together with its subsidiaries, engages in mortgage banking activities in the United States. The company operates through two segments, Investment Portfolio and Residential Mortgage Banking. The Investment Portfolio segment offers a portfolio of investments in residential mortgage-backed securities retained from Sequoia securitizations, and issued by third parties and other credit risk-related investments; and invests in residential loans held for investment and mortgage servicing rights associated with residential loans.

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