Redwood Trust, Inc. (NYSE:RWT) – Piper Sandler lowered their Q3 2020 EPS estimates for Redwood Trust in a research note issued on Friday, June 26th. Piper Sandler analyst K. Barker now forecasts that the real estate investment trust will post earnings per share of $0.17 for the quarter, down from their previous estimate of $0.23. Piper Sandler currently has a “Neutral” rating and a $7.50 price target on the stock. Piper Sandler also issued estimates for Redwood Trust’s Q4 2020 earnings at $0.21 EPS, Q1 2021 earnings at $0.22 EPS, Q2 2021 earnings at $0.22 EPS, Q3 2021 earnings at $0.22 EPS, Q4 2021 earnings at $0.23 EPS and FY2021 earnings at $0.88 EPS.
Several other equities research analysts also recently weighed in on the company. JMP Securities cut their price target on Redwood Trust from $10.00 to $5.00 and set a “market outperform” rating on the stock in a report on Friday, April 3rd. Credit Suisse Group upped their price target on Redwood Trust from $6.50 to $8.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. ValuEngine upgraded Redwood Trust from a “sell” rating to a “hold” rating in a report on Monday, May 11th. Raymond James increased their price objective on Redwood Trust from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Friday, June 12th. Finally, Zacks Investment Research downgraded Redwood Trust from a “buy” rating to a “hold” rating in a report on Tuesday. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $9.38.
Shares of NYSE RWT opened at $7.00 on Monday. The stock’s 50-day moving average is $5.90 and its two-hundred day moving average is $10.72. The company has a debt-to-equity ratio of 12.29, a current ratio of 4.36 and a quick ratio of 4.36. Redwood Trust has a 1-year low of $2.14 and a 1-year high of $18.01. The company has a market cap of $793.48 million, a price-to-earnings ratio of -0.96 and a beta of 1.16.
Large investors have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. purchased a new position in Redwood Trust during the 4th quarter worth approximately $4,962,000. NumerixS Investment Technologies Inc lifted its position in Redwood Trust by 38.9% during the 4th quarter. NumerixS Investment Technologies Inc now owns 2,500 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 700 shares during the period. Verus Capital Partners LLC acquired a new stake in Redwood Trust during the 4th quarter worth approximately $44,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Redwood Trust by 60.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,461 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 3,563 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in Redwood Trust by 29.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,667 shares of the real estate investment trust’s stock worth $160,000 after acquiring an additional 2,203 shares during the period. Hedge funds and other institutional investors own 87.43% of the company’s stock.
In other Redwood Trust news, Director Fred Matera acquired 13,000 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were acquired at an average price of $3.80 per share, for a total transaction of $49,400.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.50% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 22nd were issued a $0.125 dividend. The ex-dividend date of this dividend was Friday, June 19th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 7.14%. Redwood Trust’s payout ratio is currently 31.65%.
About Redwood Trust
Redwood Trust, Inc, together with its subsidiaries, operates as a specialty finance company in the United States. The company operates through two segments, Investment Portfolio and Residential Mortgage Banking. The Investment Portfolio segment offers a portfolio of investments in residential mortgage-backed securities retained from Sequoia securitizations, as well as issued by third parties and other credit risk-related investments; and invests directly in residential mortgage loans.
Recommended Story: Correction
Receive News & Ratings for Redwood Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Redwood Trust and related companies with MarketBeat.com's FREE daily email newsletter.