Redwood Trust (NYSE:RWT) Price Target Lowered to $10.50 at BTIG Research

Redwood Trust (NYSE:RWTGet Rating) had its target price decreased by BTIG Research from $11.50 to $10.50 in a research note published on Thursday, The Fly reports.

A number of other equities research analysts have also recently issued reports on the company. JPMorgan Chase & Co. started coverage on Redwood Trust in a research note on Friday, May 13th. They issued an overweight rating and a $11.50 target price on the stock. StockNews.com started coverage on Redwood Trust in a research note on Thursday, March 31st. They issued a hold rating on the stock. Piper Sandler cut their target price on Redwood Trust from $15.00 to $14.00 and set an overweight rating on the stock in a research note on Tuesday, April 5th. Zacks Investment Research upgraded Redwood Trust from a sell rating to a hold rating in a research note on Tuesday, May 3rd. Finally, Credit Suisse Group cut their target price on Redwood Trust to $12.00 and set a neutral rating on the stock in a research note on Thursday, May 19th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Redwood Trust has an average rating of Buy and an average target price of $13.31.

Shares of RWT opened at $9.26 on Thursday. The business’s fifty day moving average price is $9.73 and its 200 day moving average price is $11.21. Redwood Trust has a 12-month low of $8.63 and a 12-month high of $14.17. The stock has a market capitalization of $1.11 billion, a PE ratio of 4.90 and a beta of 0.96. The company has a debt-to-equity ratio of 7.50, a current ratio of 6.82 and a quick ratio of 7.79.

Redwood Trust (NYSE:RWTGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.02). Redwood Trust had a return on equity of 12.87% and a net margin of 39.78%. During the same period in the prior year, the firm earned $0.40 EPS. As a group, research analysts anticipate that Redwood Trust will post 1.25 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Thursday, March 24th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 9.94%. The ex-dividend date was Wednesday, March 23rd. Redwood Trust’s dividend payout ratio (DPR) is 48.68%.

Institutional investors and hedge funds have recently modified their holdings of the company. Clearview Wealth Advisors LLC acquired a new position in Redwood Trust during the fourth quarter worth about $27,000. Geneos Wealth Management Inc. grew its holdings in Redwood Trust by 66.8% during the fourth quarter. Geneos Wealth Management Inc. now owns 2,560 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 1,025 shares during the period. Point72 Hong Kong Ltd acquired a new position in Redwood Trust during the third quarter worth about $42,000. Confluence Wealth Services Inc. acquired a new position in Redwood Trust during the fourth quarter worth about $42,000. Finally, Steward Partners Investment Advisory LLC grew its holdings in Redwood Trust by 43.2% during the first quarter. Steward Partners Investment Advisory LLC now owns 6,386 shares of the real estate investment trust’s stock worth $67,000 after acquiring an additional 1,927 shares during the period. 75.21% of the stock is currently owned by institutional investors.

Redwood Trust Company Profile (Get Rating)

Redwood Trust, Inc, together with its subsidiaries, operates as a specialty finance company in the United States. The company operates through three segments: Residential Mortgage Banking, Business Purpose Mortgage Banking, and Investment Portfolio. The Residential 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.

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