Zacks Investment Research downgraded shares of Redwood Trust, Inc. (NYSE:RWT) from a hold rating to a strong sell rating in a report published on Friday.
According to Zacks, “REDWOOD TRUST INC. is a self-advised and self-managed real estate investment trust. It specializes in acquiring and managing real estate mortgage assets which may be acquired as whole loans or as mortgage securities reperesenting interest in or obligations backed by pools of mortgage loans. “
Other equities research analysts also recently issued reports about the stock. ValuEngine downgraded shares of Redwood Trust from a strong-buy rating to a buy rating in a report on Tuesday, August 1st. BidaskClub raised shares of Redwood Trust from a hold rating to a buy rating in a report on Friday, August 4th. Finally, Deutsche Bank AG cut their price target on shares of Redwood Trust from $18.50 to $17.00 and set a buy rating for the company in a report on Wednesday, November 8th.
Shares of Redwood Trust (NYSE:RWT) opened at $14.73 on Friday. Redwood Trust has a 1-year low of $14.62 and a 1-year high of $17.45. The company has a debt-to-equity ratio of 2.91, a current ratio of 3.36 and a quick ratio of 3.36. The firm has a market cap of $1,135.90, a PE ratio of 10.60 and a beta of 0.92.
Redwood Trust (NYSE:RWT) last issued its quarterly earnings results on Monday, November 6th. The real estate investment trust reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.04). Redwood Trust had a net margin of 41.62% and a return on equity of 9.87%. The business had revenue of $35.00 million during the quarter, compared to analyst estimates of $36.86 million. During the same period in the previous year, the company posted $0.58 earnings per share. Redwood Trust’s revenue was down 10.3% compared to the same quarter last year. equities research analysts anticipate that Redwood Trust will post 1.39 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.28 per share. The ex-dividend date is Thursday, December 14th. This represents a $1.12 annualized dividend and a yield of 7.60%. Redwood Trust’s payout ratio is presently 70.89%.
A number of hedge funds and other institutional investors have recently bought and sold shares of RWT. SG Americas Securities LLC acquired a new stake in Redwood Trust during the 1st quarter worth about $107,000. Public Employees Retirement System of Ohio raised its holdings in Redwood Trust by 1.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,003 shares of the real estate investment trust’s stock worth $119,000 after buying an additional 113 shares during the period. Fox Run Management L.L.C. acquired a new stake in Redwood Trust during the 3rd quarter worth about $215,000. Campbell & CO Investment Adviser LLC acquired a new stake in Redwood Trust during the 2nd quarter worth about $232,000. Finally, Advisory Services Network LLC raised its holdings in Redwood Trust by 3.7% during the 2nd quarter. Advisory Services Network LLC now owns 14,154 shares of the real estate investment trust’s stock worth $241,000 after buying an additional 510 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.
About Redwood Trust
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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