Redwood Trust, Inc. (RWT) To Go Ex-Dividend on March 24th

Redwood Trust, Inc. (NYSE:RWT) announced a quarterly dividend on Thursday, March 13th, RTT News reports. Shareholders of record on Monday, March 24th will be given a dividend of 0.18 per share by the real estate investment trust on Monday, March 31st. This represents a $0.72 annualized dividend and a yield of 11.28%. The ex-dividend date of this dividend is Monday, March 24th.

Redwood Trust has decreased its dividend by an average of 4.9% annually over the last three years. Redwood Trust has a payout ratio of 94.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Redwood Trust to earn $0.90 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 80.0%.

Redwood Trust Stock Up 3.5 %

Shares of NYSE:RWT opened at $6.39 on Friday. Redwood Trust has a one year low of $5.45 and a one year high of $8.15. The company has a 50 day moving average of $6.44 and a 200-day moving average of $7.00. The company has a debt-to-equity ratio of 14.09, a current ratio of 44.36 and a quick ratio of 44.36. The stock has a market cap of $846.14 million, a price-to-earnings ratio of 19.35 and a beta of 1.63.

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

Analyst Upgrades and Downgrades

RWT has been the topic of several research reports. JMP Securities restated a “market outperform” rating and issued a $8.00 price target on shares of Redwood Trust in a research note on Friday, February 14th. JPMorgan Chase & Co. decreased their price target on Redwood Trust from $7.00 to $6.50 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. Finally, StockNews.com raised Redwood Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Redwood Trust presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.75.

Redwood Trust Company Profile

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.