Redwood Trust (NYSE:RWT) PT Raised to $8.50 at Wells Fargo & Company

Redwood Trust (NYSE:RWT) had its price objective raised by Wells Fargo & Company from $7.50 to $8.50 in a report issued on Friday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the real estate investment trust’s stock.

Other analysts have also issued reports about the stock. Wedbush increased their price target on shares of Redwood Trust from $6.50 to $7.00 and gave the company a neutral rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price target on Redwood Trust from $7.00 to $7.50 and gave the stock an overweight rating in a report on Tuesday, July 16th. Piper Sandler upped their price objective on Redwood Trust from $6.50 to $7.50 and gave the company a neutral rating in a research report on Monday, August 5th. JMP Securities lifted their price objective on Redwood Trust from $8.00 to $8.50 and gave the stock a market outperform rating in a research report on Friday, July 19th. Finally, Raymond James upped their target price on shares of Redwood Trust from $8.50 to $9.50 and gave the company a strong-buy rating in a report on Thursday. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $8.08.

Redwood Trust Trading Down 1.6 %

Shares of RWT opened at $7.93 on Friday. Redwood Trust has a twelve month low of $5.45 and a twelve month high of $8.15. The company has a current ratio of 50.47, a quick ratio of 50.47 and a debt-to-equity ratio of 12.97. The firm has a market capitalization of $1.05 billion, a P/E ratio of 113.29 and a beta of 1.58. The firm’s 50-day moving average is $7.37 and its two-hundred day moving average is $6.65.

Redwood Trust (NYSE:RWT) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. Redwood Trust had a return on equity of 4.93% and a net margin of 4.45%. During the same period in the previous year, the company posted $0.14 EPS. On average, research analysts predict that Redwood Trust will post 0.5 earnings per share for the current fiscal year.

Redwood Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 23rd will be paid a dividend of $0.17 per share. The ex-dividend date is Monday, September 23rd. This is a positive change from Redwood Trust’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 8.58%. Redwood Trust’s dividend payout ratio is currently 971.43%.

Institutional Trading of Redwood Trust

A number of institutional investors have recently modified their holdings of RWT. Concurrent Investment Advisors LLC purchased a new position in Redwood Trust in the second quarter valued at approximately $69,000. MQS Management LLC acquired a new stake in shares of Redwood Trust in the first quarter worth $72,000. Algert Global LLC purchased a new position in shares of Redwood Trust in the 2nd quarter valued at $86,000. Ameritas Investment Partners Inc. lifted its holdings in shares of Redwood Trust by 26.5% during the 1st quarter. Ameritas Investment Partners Inc. now owns 14,324 shares of the real estate investment trust’s stock valued at $91,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in Redwood Trust during the 4th quarter worth $107,000. Hedge funds and other institutional investors own 74.34% of the company’s stock.

About Redwood Trust

Redwood Trust, Inc, together with its subsidiaries, operates as a specialty finance company in the United States. The company operates through three segments: Residential Consumer Mortgage Banking, Residential Investor Mortgage Banking, and Investment Portfolio. The Residential Consumer Mortgage Banking segment operates a mortgage loan conduit that acquires residential loans from third-party originators for subsequent sale, securitization, or transfer to its investment portfolio.