Jefferies Financial Group Comments on Redwood Trust, Inc.’s Q3 2021 Earnings (NYSE:RWT)

Redwood Trust, Inc. (NYSE:RWT) – Stock analysts at Jefferies Financial Group reduced their Q3 2021 earnings per share estimates for Redwood Trust in a report issued on Tuesday, October 12th. Jefferies Financial Group analyst R. Carr now expects that the real estate investment trust will post earnings of $0.23 per share for the quarter, down from their prior estimate of $0.26. Jefferies Financial Group also issued estimates for Redwood Trust’s Q1 2022 earnings at $0.32 EPS, Q3 2022 earnings at $0.35 EPS and Q4 2022 earnings at $0.35 EPS.

A number of other brokerages have also issued reports on RWT. Credit Suisse Group upped their target price on Redwood Trust from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Monday, September 13th. Raymond James upped their target price on Redwood Trust from $14.50 to $16.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 29th. JMP Securities reaffirmed a “buy” rating and issued a $15.00 target price on shares of Redwood Trust in a research report on Friday, September 24th. Piper Sandler raised Redwood Trust from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $12.00 to $14.00 in a research note on Monday, July 19th. Finally, Zacks Investment Research raised Redwood Trust from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Wednesday, July 14th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $13.50.

Shares of RWT opened at $13.81 on Thursday. The business’s 50 day moving average is $12.64 and its two-hundred day moving average is $11.77. Redwood Trust has a 52-week low of $7.80 and a 52-week high of $13.90. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 4.90 and a beta of 0.97. The company has a quick ratio of 6.63, a current ratio of 6.63 and a debt-to-equity ratio of 6.97.

Institutional investors and hedge funds have recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its holdings in shares of Redwood Trust by 48.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 41,913 shares of the real estate investment trust’s stock valued at $436,000 after acquiring an additional 13,656 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Redwood Trust by 22.4% during the 1st quarter. Teacher Retirement System of Texas now owns 12,758 shares of the real estate investment trust’s stock valued at $133,000 after acquiring an additional 2,337 shares during the last quarter. Prudential Financial Inc. increased its holdings in shares of Redwood Trust by 20.9% during the 1st quarter. Prudential Financial Inc. now owns 154,985 shares of the real estate investment trust’s stock valued at $1,613,000 after acquiring an additional 26,775 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Redwood Trust by 8.6% during the 1st quarter. Geode Capital Management LLC now owns 1,831,326 shares of the real estate investment trust’s stock valued at $19,064,000 after acquiring an additional 144,798 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Redwood Trust by 5.5% during the 1st quarter. Bank of Montreal Can now owns 29,342 shares of the real estate investment trust’s stock valued at $307,000 after acquiring an additional 1,531 shares during the last quarter. 70.61% of the stock is owned by institutional investors.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 30th. Stockholders of record on Thursday, September 23rd were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, September 22nd. This is an increase from Redwood Trust’s previous quarterly dividend of $0.18. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.08%. Redwood Trust’s dividend payout ratio (DPR) is 2,100.00%.

Redwood Trust Company Profile

Redwood Trust, Inc is a financial company, which focuses on several distinct areas of housing credit. It operates through the segments: Residential Lending, Business Purpose Lending, Third-Party Investments, and Corporate. The Residential Lending segment consists of a mortgage loan conduit that acquires residential loans from third-party originators for subsequent sale, securitization, or transfer into the investment portfolio.

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Earnings History and Estimates for Redwood Trust (NYSE:RWT)

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