Redwood Trust, Inc. (NYSE:RWT) has been assigned an average recommendation of “Buy” from the six brokerages that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $17.83.

A number of research analysts recently issued reports on RWT shares. Zacks Investment Research upgraded shares of Redwood Trust from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research report on Friday, August 10th. Compass Point set a $18.00 target price on shares of Redwood Trust and gave the company a “hold” rating in a research report on Wednesday, August 8th. ValuEngine upgraded shares of Redwood Trust from a “sell” rating to a “hold” rating in a research report on Thursday, August 30th. Finally, Raymond James initiated coverage on shares of Redwood Trust in a report on Friday, October 12th. They issued an “outperform” rating and a $18.50 price objective for the company.

NYSE RWT traded up $0.13 on Friday, reaching $16.48. 787,100 shares of the company’s stock traded hands, compared to its average volume of 724,313. The company has a market capitalization of $1.36 billion, a PE ratio of 11.81 and a beta of 0.67. Redwood Trust has a fifty-two week low of $14.32 and a fifty-two week high of $17.50. The company has a debt-to-equity ratio of 4.54, a current ratio of 4.63 and a quick ratio of 4.63.

Redwood Trust (NYSE:RWT) last posted its earnings results on Wednesday, November 7th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The company had revenue of $35.00 million during the quarter, compared to the consensus estimate of $37.57 million. Redwood Trust had a net margin of 35.10% and a return on equity of 12.82%. The firm’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 earnings per share. Research analysts expect that Redwood Trust will post 1.77 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be issued a $0.30 dividend. The ex-dividend date is Thursday, December 13th. This represents a $1.20 dividend on an annualized basis and a yield of 7.28%. Redwood Trust’s payout ratio is 86.33%.

In other news, Director Horvath D. Debora acquired 6,035 shares of the business’s stock in a transaction on Friday, November 16th. The stock was bought at an average price of $16.57 per share, with a total value of $99,999.95. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.84% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Redwood Trust by 19.7% in the third quarter. Vanguard Group Inc. now owns 7,796,662 shares of the real estate investment trust’s stock valued at $126,618,000 after buying an additional 1,284,601 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Redwood Trust by 191.0% during the third quarter. Legal & General Group Plc now owns 215,308 shares of the real estate investment trust’s stock worth $3,490,000 after purchasing an additional 141,330 shares in the last quarter. IndexIQ Advisors LLC increased its stake in shares of Redwood Trust by 7.9% during the third quarter. IndexIQ Advisors LLC now owns 72,885 shares of the real estate investment trust’s stock worth $1,184,000 after purchasing an additional 5,328 shares in the last quarter. Thrivent Financial for Lutherans purchased a new stake in shares of Redwood Trust during the third quarter worth about $943,000. Finally, MetLife Investment Advisors LLC increased its stake in shares of Redwood Trust by 72.5% during the third quarter. MetLife Investment Advisors LLC now owns 57,814 shares of the real estate investment trust’s stock worth $939,000 after purchasing an additional 24,290 shares in the last quarter. 92.78% of the stock is owned by institutional investors.

About Redwood Trust

Redwood Trust, Inc, together with its subsidiaries, engages in mortgage banking activities in the United States. The company operates through two segments, Investment Portfolio and Residential Mortgage Banking. The Investment Portfolio segment offers a portfolio of investments in residential mortgage-backed securities retained from Sequoia securitizations, and issued by third parties and other credit risk-related investments; and invests in residential loans held for investment and mortgage servicing rights associated with residential loans.

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