Redwood Trust (RWT) Upgraded at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Redwood Trust (NYSE:RWT) from a market perform rating to an outperform rating in a research note released on Thursday.

RWT has been the topic of a number of other research reports. ValuEngine raised shares of Redwood Trust from a hold rating to a buy rating in a research note on Friday, December 1st. Deutsche Bank cut their price target on shares of Redwood Trust from $18.50 to $17.00 and set a buy rating on the stock in a research note on Wednesday, November 8th. Zacks Investment Research downgraded shares of Redwood Trust from a hold rating to a strong sell rating in a research note on Friday, November 10th. Finally, BidaskClub raised shares of Redwood Trust from a hold rating to a buy rating in a research note on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Redwood Trust presently has a consensus rating of Buy and an average price target of $17.00.

Redwood Trust (RWT) traded up $0.21 during trading hours on Thursday, reaching $15.12. 503,325 shares of the company’s stock were exchanged, compared to its average volume of 437,006. The company has a debt-to-equity ratio of 2.91, a quick ratio of 3.36 and a current ratio of 3.36. The stock has a market capitalization of $1,170.00, a P/E ratio of 10.88 and a beta of 0.90. Redwood Trust has a 12 month low of $14.29 and a 12 month high of $17.45.

Redwood Trust (NYSE:RWT) last posted its quarterly earnings results on Monday, November 6th. The real estate investment trust reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.04). The company had revenue of $35.00 million for the quarter, compared to analysts’ expectations of $36.86 million. Redwood Trust had a return on equity of 9.87% and a net margin of 41.62%. The business’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.58 EPS. research analysts anticipate that Redwood Trust will post 1.39 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 7.41%. The ex-dividend date of this dividend is Thursday, December 14th. Redwood Trust’s dividend payout ratio is currently 81.16%.

Hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. raised its stake in shares of Redwood Trust by 11.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 83,059 shares of the real estate investment trust’s stock valued at $1,416,000 after acquiring an additional 8,816 shares during the period. TIAA FSB purchased a new position in shares of Redwood Trust in the 2nd quarter valued at $3,346,000. Seizert Capital Partners LLC raised its stake in shares of Redwood Trust by 3.1% in the 3rd quarter. Seizert Capital Partners LLC now owns 1,496,235 shares of the real estate investment trust’s stock valued at $24,374,000 after acquiring an additional 45,651 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Redwood Trust by 44.3% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 30,219 shares of the real estate investment trust’s stock valued at $515,000 after acquiring an additional 9,270 shares during the period. Finally, LSV Asset Management raised its stake in shares of Redwood Trust by 4.1% in the 2nd quarter. LSV Asset Management now owns 247,100 shares of the real estate investment trust’s stock valued at $4,210,000 after acquiring an additional 9,700 shares during the period. 85.39% of the stock is currently owned by institutional investors and hedge funds.

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About Redwood Trust

Redwood Trust, Inc, through its subsidiaries, focuses on investing in mortgage and other real estate related assets. The Company is engaged in mortgage banking activities. The Company operates through three segments: Residential Investments, Residential Mortgage Banking and Commercial. The Residential Investments segment includes a portfolio of investments in residential mortgage-backed securities (RMBS) retained from its Sequoia securitizations.

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