ValuEngine cut shares of Redwood Trust, Inc. (NYSE:RWT) from a buy rating to a hold rating in a research report sent to investors on Friday.
Several other equities analysts have also recently issued reports on the company. BidaskClub upgraded Redwood Trust from a hold rating to a buy rating in a report on Friday, August 4th. Zacks Investment Research upgraded Redwood Trust from a strong sell rating to a hold rating in a report on Tuesday, October 10th. Finally, Deutsche Bank AG decreased their price target on Redwood Trust from $18.50 to $17.00 and set a buy rating on the stock in a report on Wednesday, November 8th.
Redwood Trust (NYSE RWT) opened at $14.73 on Friday. The stock has a market capitalization of $1,135.90, a PE ratio of 10.60 and a beta of 0.92. Redwood Trust has a 1-year low of $14.62 and a 1-year high of $17.45. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 2.91.
Redwood Trust (NYSE:RWT) last posted its quarterly earnings results on Monday, November 6th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.04). The firm had revenue of $35.00 million during the quarter, compared to the consensus estimate of $36.86 million. Redwood Trust had a net margin of 41.62% and a return on equity of 9.87%. Redwood Trust’s revenue was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.58 EPS. equities analysts forecast that Redwood Trust will post 1.39 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Friday, December 15th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 7.60%. The ex-dividend date is Thursday, December 14th. Redwood Trust’s dividend payout ratio is 70.89%.
A number of institutional investors and hedge funds have recently modified their holdings of the business. North Star Investment Management Corp. boosted its holdings in Redwood Trust by 0.3% during the second quarter. North Star Investment Management Corp. now owns 28,770 shares of the real estate investment trust’s stock worth $490,000 after buying an additional 80 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Redwood Trust by 1.6% during the second 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 last quarter. UBS Asset Management Americas Inc. boosted its holdings in Redwood Trust by 0.3% during the second quarter. UBS Asset Management Americas Inc. now owns 39,228 shares of the real estate investment trust’s stock worth $668,000 after buying an additional 116 shares during the last quarter. Advisory Services Network LLC boosted its holdings in Redwood Trust by 3.7% during the second 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 last quarter. Finally, AQR Capital Management LLC boosted its holdings in Redwood Trust by 0.4% during the first quarter. AQR Capital Management LLC now owns 129,379 shares of the real estate investment trust’s stock worth $2,149,000 after buying an additional 573 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.
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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