Redwood Trust, Inc. (NYSE:RWT – Get Free Report) hit a new 52-week high during trading on Thursday after Wells Fargo & Company raised their price target on the stock from $7.50 to $8.50. Wells Fargo & Company currently has an equal weight rating on the stock. Redwood Trust traded as high as $8.15 and last traded at $8.04, with a volume of 35803 shares traded. The stock had previously closed at $7.99.
A number of other equities research analysts have also recently issued reports on the stock. JMP Securities lifted their price target on shares of Redwood Trust from $8.00 to $8.50 and gave the company a “market outperform” rating in a research note on Friday, July 19th. Wedbush lifted their price target on shares of Redwood Trust from $6.50 to $7.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. lifted their price target on shares of Redwood Trust from $7.00 to $7.50 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Piper Sandler lifted their price target on shares of Redwood Trust from $6.50 to $7.50 and gave the company a “neutral” rating in a research note on Monday, August 5th. Finally, Raymond James lifted their price target on shares of Redwood Trust from $8.50 to $9.50 and gave the company a “strong-buy” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Redwood Trust presently has an average rating of “Moderate Buy” and a consensus target price of $8.08.
View Our Latest Report on Redwood Trust
Institutional Investors Weigh In On Redwood Trust
Redwood Trust Stock Performance
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 fifty day moving average price of $7.37 and a 200 day moving average price of $6.64. The firm has a market cap of $1.05 billion, a PE ratio of 113.29 and a beta of 1.58.
Redwood Trust (NYSE:RWT – Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.13 EPS for the quarter, topping the consensus estimate 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 quarter last year, the firm posted $0.14 EPS. As a group, equities research analysts expect that Redwood Trust, Inc. will post 0.5 earnings per share for the current fiscal year.
Redwood Trust Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 23rd will be issued a $0.17 dividend. 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%. The ex-dividend date of this dividend is Monday, September 23rd. Redwood Trust’s payout ratio is 914.29%.
Redwood Trust Company Profile
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.
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