Analysts expect Redwood Trust, Inc. (NYSE:RWT) to post $0.34 earnings per share (EPS) for the current quarter, according to Zacks. Zero analysts have issued estimates for Redwood Trust’s earnings. Redwood Trust reported earnings of $0.41 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 17.1%. The firm is expected to report its next quarterly earnings results on Monday, August 14th.
According to Zacks, analysts expect that Redwood Trust will report full-year earnings of $1.40 per share for the current year. For the next financial year, analysts expect that the company will report earnings of $1.46 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Redwood Trust.
Redwood Trust (NYSE:RWT) last announced its quarterly earnings results on Thursday, May 4th. The real estate investment trust reported $0.36 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.36. Redwood Trust had a net margin of 48.45% and a return on equity of 13.22%. The business had revenue of $62 million for the quarter, compared to analyst estimates of $34.89 million. During the same quarter in the prior year, the business earned $0.28 EPS.
RWT has been the topic of several research reports. Zacks Investment Research raised shares of Redwood Trust from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Tuesday, May 9th. BidaskClub upgraded shares of Redwood Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Finally, ValuEngine downgraded shares of Redwood Trust from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Redwood Trust presently has an average rating of “Hold” and a consensus target price of $16.75.
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Shares of Redwood Trust (NYSE RWT) traded up 1.06% on Tuesday, reaching $17.13. 306,764 shares of the company were exchanged. The firm has a market capitalization of $1.32 billion, a PE ratio of 9.74 and a beta of 0.89. Redwood Trust has a 12-month low of $13.22 and a 12-month high of $17.43. The company’s 50 day moving average is $16.90 and its 200 day moving average is $16.38.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Friday, June 16th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, June 14th. This represents a $1.12 annualized dividend and a yield of 6.54%. Redwood Trust’s dividend payout ratio is currently 62.22%.
In related news, General Counsel Andrew P. Stone sold 3,730 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $17.24, for a total transaction of $64,305.20. Following the completion of the transaction, the general counsel now owns 49,626 shares of the company’s stock, valued at $855,552.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Karen R. Pallotta acquired 3,027 shares of Redwood Trust stock in a transaction that occurred on Monday, May 22nd. The shares were purchased at an average cost of $16.53 per share, with a total value of $50,036.31. The disclosure for this purchase can be found here. 2.33% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the stock. Eqis Capital Management Inc. boosted its position in shares of Redwood Trust by 21.5% in the second quarter. Eqis Capital Management Inc. now owns 14,576 shares of the real estate investment trust’s stock valued at $248,000 after buying an additional 2,580 shares in the last quarter. Farmhouse Investment Management LLC purchased a new position in shares of Redwood Trust during the first quarter valued at approximately $507,000. AQR Capital Management LLC boosted its position in shares of Redwood Trust by 0.4% in the first quarter. AQR Capital Management LLC now owns 129,379 shares of the real estate investment trust’s stock valued at $2,149,000 after buying an additional 573 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Redwood Trust by 8.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 530,383 shares of the real estate investment trust’s stock valued at $8,810,000 after buying an additional 40,825 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Redwood Trust by 4.3% in the first quarter. Renaissance Technologies LLC now owns 1,397,000 shares of the real estate investment trust’s stock valued at $23,204,000 after buying an additional 57,800 shares in the last quarter. 85.14% of the stock is owned by institutional investors.
Redwood Trust Company Profile
Redwood Trust, Inc, through its subsidiaries, focuses on investing in mortgage and other real estate related assets. The Company is engaged in mortgage banking activities. The Company operates through three segments: Residential Investments, Residential Mortgage Banking and Commercial. The Residential Investments segment includes a portfolio of investments in residential mortgage-backed securities (RMBS) retained from its Sequoia securitizations.
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