Redwood Trust (NYSE:RWT) Sets New 52-Week Low at $5.46

Redwood Trust, Inc. (NYSE:RWT) reached a new 52-week low on Tuesday . The company traded as low as $5.46 and last traded at $5.46, with a volume of 112123 shares. The stock had previously closed at $5.59.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on RWT shares. Wedbush cut Redwood Trust from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $8.00 to $6.50 in a report on Thursday, April 11th. JMP Securities reiterated a “market outperform” rating and set a $8.00 price target on shares of Redwood Trust in a report on Wednesday, April 10th. Wells Fargo & Company lowered their target price on Redwood Trust from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday, February 21st. Raymond James lowered their target price on Redwood Trust from $9.00 to $8.50 and set a “strong-buy” rating for the company in a report on Friday, January 19th. Finally, UBS Group lowered their target price on Redwood Trust from $9.00 to $8.50 and set a “buy” rating for the company in a report on Tuesday, March 5th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.64.

Redwood Trust Stock Down 1.3 %

The firm has a market cap of $726.32 million, a price-to-earnings ratio of -46.58 and a beta of 1.48. The firm has a 50-day moving average price of $6.23 and a two-hundred day moving average price of $6.73. The company has a debt-to-equity ratio of 10.12, a quick ratio of 7.36 and a current ratio of 7.36.

Redwood Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 21st were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 11.59%. The ex-dividend date of this dividend was Wednesday, March 20th. Redwood Trust’s payout ratio is currently -533.33%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RWT. International Assets Investment Management LLC grew its holdings in Redwood Trust by 641.0% in the fourth quarter. International Assets Investment Management LLC now owns 3,705 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 3,205 shares during the last quarter. Quarry LP boosted its stake in shares of Redwood Trust by 736.7% during the first quarter. Quarry LP now owns 5,614 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 4,943 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Redwood Trust by 71.9% during the second quarter. Tower Research Capital LLC TRC now owns 6,683 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 2,796 shares during the last quarter. O Dell Group LLC acquired a new stake in shares of Redwood Trust during the fourth quarter valued at $44,000. Finally, Metropolitan Life Insurance Co NY boosted its stake in shares of Redwood Trust by 29.6% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 7,213 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 1,649 shares during the last quarter. Institutional investors and hedge funds own 74.34% of the company’s stock.

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.