Q1 2024 EPS Estimates for Redwood Trust, Inc. Reduced by Analyst (NYSE:RWT)

Redwood Trust, Inc. (NYSE:RWT) – Wedbush lowered their Q1 2024 earnings per share estimates for Redwood Trust in a research note issued on Thursday, April 11th. Wedbush analyst J. Mccanless now expects that the real estate investment trust will earn $0.09 per share for the quarter, down from their previous estimate of $0.10. Wedbush has a “Neutral” rating and a $6.50 price target on the stock. The consensus estimate for Redwood Trust’s current full-year earnings is $0.47 per share. Wedbush also issued estimates for Redwood Trust’s Q2 2024 earnings at $0.11 EPS, Q3 2024 earnings at $0.14 EPS, Q4 2024 earnings at $0.17 EPS and FY2025 earnings at $0.65 EPS.

RWT has been the subject of several other reports. JMP Securities restated a “market outperform” rating and set a $8.00 price target on shares of Redwood Trust in a research report on Wednesday. Wells Fargo & Company lowered their price target on Redwood Trust from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 21st. Raymond James lowered their price target on Redwood Trust from $9.00 to $8.50 and set a “strong-buy” rating for the company in a research report on Friday, January 19th. UBS Group lowered their price target on Redwood Trust from $9.00 to $8.50 and set a “buy” rating for the company in a research report on Tuesday, March 5th. Finally, Piper Sandler lowered their price target on Redwood Trust from $7.50 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $7.64.

Redwood Trust Trading Down 2.0 %

RWT opened at $5.83 on Friday. Redwood Trust has a 52 week low of $5.47 and a 52 week high of $8.30. The business has a fifty day simple moving average of $6.29 and a 200-day simple moving average of $6.76. The firm has a market cap of $767.11 million, a P/E ratio of -48.58 and a beta of 1.48. The company has a quick ratio of 7.36, a current ratio of 7.36 and a debt-to-equity ratio of 10.12.

Redwood Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 21st were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 10.98%. The ex-dividend date of this dividend was Wednesday, March 20th. Redwood Trust’s payout ratio is currently -533.33%.

Institutional Trading of Redwood Trust

Several hedge funds have recently modified their holdings of the stock. Quadrature Capital Ltd raised its stake in Redwood Trust by 122.8% in the fourth quarter. Quadrature Capital Ltd now owns 40,374 shares of the real estate investment trust’s stock valued at $299,000 after buying an additional 22,254 shares in the last quarter. Vanguard Group Inc. raised its stake in Redwood Trust by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 12,973,503 shares of the real estate investment trust’s stock valued at $96,134,000 after buying an additional 78,222 shares in the last quarter. Wellington Management Group LLP raised its stake in Redwood Trust by 164.4% in the fourth quarter. Wellington Management Group LLP now owns 11,314,715 shares of the real estate investment trust’s stock valued at $83,842,000 after buying an additional 7,035,524 shares in the last quarter. O Dell Group LLC acquired a new stake in Redwood Trust in the fourth quarter valued at $44,000. Finally, Nuveen Asset Management LLC raised its stake in Redwood Trust by 5.5% in the fourth quarter. Nuveen Asset Management LLC now owns 306,616 shares of the real estate investment trust’s stock valued at $2,272,000 after buying an additional 16,069 shares in the last quarter. 74.34% of the stock is currently owned by institutional investors and hedge funds.

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.