Redwood Trust, Inc. (NYSE:RWT) Announces Quarterly Dividend of $0.21

Redwood Trust, Inc. (NYSE:RWT) announced a quarterly dividend on Monday, September 13th, RTT News reports. Shareholders of record on Thursday, September 23rd will be paid a dividend of 0.21 per share by the real estate investment trust on Thursday, September 30th. This represents a $0.84 dividend on an annualized basis and a yield of 6.66%. This is a boost from Redwood Trust’s previous quarterly dividend of $0.18.

Redwood Trust has decreased its dividend payment by 35.3% over the last three years.

Shares of NYSE:RWT opened at $12.61 on Wednesday. The business’s fifty day moving average price is $12.14 and its two-hundred day moving average price is $11.38. Redwood Trust has a fifty-two week low of $7.11 and a fifty-two week high of $12.73. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 4.47 and a beta of 0.97. The company has a debt-to-equity ratio of 6.97, a current ratio of 6.63 and a quick ratio of 6.63.

RWT has been the topic of a number of analyst reports. BTIG Research upped their price target on Redwood Trust from $12.50 to $13.50 and gave the company a “buy” rating in a research report on Tuesday, June 15th. Credit Suisse Group boosted their price objective on Redwood Trust from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Monday. Piper Sandler raised Redwood Trust from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $12.00 to $14.00 in a research note on Monday, July 19th. Zacks Investment Research raised Redwood Trust from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Wednesday, July 14th. Finally, JMP Securities boosted their price objective on Redwood Trust from $12.00 to $13.50 and gave the stock a “market outperform” rating in a research note on Thursday, June 24th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $13.31.

Redwood Trust Company Profile

Redwood Trust, Inc is a financial company, which focuses on several distinct areas of housing credit. It operates through the segments: Residential Lending, Business Purpose Lending, Third-Party Investments, and Corporate. The Residential Lending segment consists of a mortgage loan conduit that acquires residential loans from third-party originators for subsequent sale, securitization, or transfer into the investment portfolio.

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Dividend History for Redwood Trust (NYSE:RWT)

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