Redwood Trust (RWT) – Research Analysts’ Recent Ratings Changes

Redwood Trust (NYSE: RWT) has recently received a number of price target changes and ratings updates:

• 4/18/2024 – Redwood Trust had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $8.00 price target on the stock.
• 4/11/2024 – Redwood Trust was downgraded by analysts at Wedbush from an “outperform” rating to a “neutral” rating. They now have a $6.50 price target on the stock, down previously from $8.00.
• 4/10/2024 – Redwood Trust had its price target lowered by analysts at Keefe, Bruyette & Woods from $7.75 to $7.25. They now have an “outperform” rating on the stock.
• 4/10/2024 – Redwood Trust had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $8.00 price target on the stock.
• 3/5/2024 – Redwood Trust had its price target lowered by analysts at UBS Group AG from $9.00 to $8.50. They now have a “buy” rating on the stock.

Redwood Trust Price Performance

RWT stock traded down $0.01 during midday trading on Monday, reaching $5.71. The company had a trading volume of 225,967 shares, compared to its average volume of 1,415,291. The firm has a 50-day moving average price of $6.06 and a 200-day moving average price of $6.64. The company has a market capitalization of $751.30 million, a P/E ratio of -47.58 and a beta of 1.48. Redwood Trust, Inc. has a 1 year low of $5.45 and a 1 year high of $8.30. The company has a debt-to-equity ratio of 10.12, a current ratio of 7.36 and a quick ratio of 7.36.

Redwood Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 21st were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 11.21%. The ex-dividend date of this dividend was Wednesday, March 20th. Redwood Trust’s dividend payout ratio is currently -533.33%.

Institutional Investors Weigh In On Redwood Trust

A number of hedge funds and other institutional investors have recently modified their holdings of RWT. Simon Quick Advisors LLC boosted its position in Redwood Trust by 6.3% during the 4th quarter. Simon Quick Advisors LLC now owns 25,246 shares of the real estate investment trust’s stock valued at $187,000 after acquiring an additional 1,488 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Redwood Trust by 2.4% during the fourth quarter. State of Alaska Department of Revenue now owns 72,984 shares of the real estate investment trust’s stock valued at $540,000 after purchasing an additional 1,715 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its position in Redwood Trust by 8.2% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 24,292 shares of the real estate investment trust’s stock valued at $180,000 after buying an additional 1,847 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Redwood Trust by 0.4% in the fourth quarter. Principal Financial Group Inc. now owns 617,725 shares of the real estate investment trust’s stock worth $4,577,000 after acquiring an additional 2,296 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Redwood Trust by 45.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,965 shares of the real estate investment trust’s stock valued at $57,000 after acquiring an additional 2,498 shares in the last quarter. Institutional investors own 74.34% of the company’s stock.

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.