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

Shares of Redwood Trust, Inc. (NYSE:RWT) have earned a consensus recommendation of “Moderate Buy” from the ten research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $6.1071.

Several research firms have recently commented on RWT. Piper Sandler decreased their price objective on Redwood Trust from $6.50 to $5.50 and set a “neutral” rating on the stock in a report on Thursday, July 2nd. Weiss Ratings restated a “sell (d)” rating on shares of Redwood Trust in a report on Wednesday, June 24th. Keefe, Bruyette & Woods upgraded Redwood Trust from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $7.00 to $6.00 in a research report on Thursday, July 9th. Wall Street Zen raised Redwood Trust from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Zacks Research cut shares of Redwood Trust from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th.

Redwood Trust Stock Performance

Redwood Trust stock opened at $5.21 on Friday. The firm has a fifty day simple moving average of $5.11 and a two-hundred day simple moving average of $5.55. The company has a quick ratio of 59.63, a current ratio of 59.63 and a debt-to-equity ratio of 28.42. Redwood Trust has a twelve month low of $4.19 and a twelve month high of $6.97. The company has a market capitalization of $651.77 million, a PE ratio of -6.67 and a beta of 1.37.

Redwood Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.72 annualized dividend and a yield of 13.8%. Redwood Trust’s dividend payout ratio is presently -92.31%.

Institutional Investors Weigh In On Redwood Trust

A number of large investors have recently added to or reduced their stakes in the company. Clearstead Advisors LLC raised its stake in shares of Redwood Trust by 192.5% during the fourth quarter. Clearstead Advisors LLC now owns 5,428 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 3,572 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Redwood Trust by 331.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,915 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 6,082 shares during the period. Westbourne Investments Inc. bought a new position in Redwood Trust during the 4th quarter valued at approximately $55,000. Bank of Marin bought a new position in Redwood Trust during the 4th quarter valued at approximately $58,000. Finally, Abel Hall LLC bought a new position in Redwood Trust during the 4th quarter valued at approximately $58,000. Institutional investors own 74.34% of the company’s stock.

Redwood Trust Company Profile

Redwood Trust, Inc (NYSE:RWT) is a publicly traded real estate investment trust specializing in the U.S. residential mortgage market. Headquartered in Mill Valley, California, the company focuses on investing in a diversified portfolio of residential mortgage assets, including whole loans, agency and non-agency mortgage-backed securities, and structured credit products.

The company’s core activities encompass the acquisition, financing, and management of prime residential mortgage whole loans and mortgage-backed securities.