Brokers Issue Forecasts for Redwood Trust, Inc.’s FY2024 Earnings (NYSE:RWT)

Redwood Trust, Inc. (NYSE:RWT) – Equities research analysts at Wedbush reduced their FY2024 earnings per share estimates for shares of Redwood Trust in a report issued on Thursday, April 11th. Wedbush analyst J. Mccanless now forecasts that the real estate investment trust will post earnings of $0.50 per share for the year, down from their previous estimate of $0.55. Wedbush currently has a “Neutral” rating and a $6.50 price target on the stock. The consensus estimate for Redwood Trust’s current full-year earnings is $0.48 per share.

A number of other research firms also recently weighed in on RWT. Raymond James reduced their price target on Redwood Trust from $9.00 to $8.50 and set a “strong-buy” rating for the company in a research report on Friday, January 19th. JMP Securities reaffirmed a “market outperform” rating and set a $8.00 price target on shares of Redwood Trust in a research report on Wednesday, April 10th. Wells Fargo & Company reduced their price target on Redwood Trust from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 21st. UBS Group reduced their price target on Redwood Trust from $9.00 to $8.50 and set a “buy” rating for the company in a research report on Tuesday, March 5th. Finally, Piper Sandler reduced their price target on Redwood Trust from $7.50 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $7.64.

Redwood Trust Trading Down 1.7 %

NYSE:RWT opened at $5.50 on Monday. Redwood Trust has a twelve month low of $5.45 and a twelve month high of $8.30. The company has a quick ratio of 7.36, a current ratio of 7.36 and a debt-to-equity ratio of 10.12. The business has a 50 day moving average price of $6.20 and a two-hundred day moving average price of $6.72. The company has a market cap of $723.03 million, a P/E ratio of -45.79 and a beta of 1.48.

Redwood Trust Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 11.65%. The ex-dividend date of this dividend was Wednesday, March 20th. Redwood Trust’s payout ratio is presently -533.33%.

Institutional Investors Weigh In On Redwood Trust

Large investors have recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its holdings in shares of Redwood Trust by 641.0% in the 4th quarter. International Assets Investment Management LLC now owns 3,705 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 3,205 shares during the last quarter. Quarry LP raised its stake in Redwood Trust by 736.7% in the 1st 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 period. O Dell Group LLC bought a new stake in Redwood Trust in the 4th quarter valued at $44,000. Tower Research Capital LLC TRC raised its stake in Redwood Trust by 71.9% in the 2nd 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 period. Finally, Metropolitan Life Insurance Co NY raised its stake in Redwood Trust by 29.6% in the 4th 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 period. 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.