Redwood Trust, Inc. (NYSE:RWT - Free Report) - Wedbush raised their FY2024 earnings per share (EPS) estimates for shares of Redwood Trust in a research report issued to clients and investors on Thursday, October 31st. Wedbush analyst J. Mccanless now anticipates that the real estate investment trust will earn $0.55 per share for the year, up from their prior forecast of $0.50. Wedbush has a "Neutral" rating and a $7.00 price objective on the stock. The consensus estimate for Redwood Trust's current full-year earnings is $0.52 per share. Wedbush also issued estimates for Redwood Trust's Q4 2024 earnings at $0.16 EPS, Q1 2025 earnings at $0.17 EPS, Q2 2025 earnings at $0.19 EPS, Q3 2025 earnings at $0.20 EPS, Q4 2025 earnings at $0.19 EPS, FY2025 earnings at $0.75 EPS and FY2026 earnings at $0.85 EPS.
Redwood Trust (NYSE:RWT - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.13 EPS for the quarter, topping the consensus estimate of $0.12 by $0.01. Redwood Trust had a net margin of 12.59% and a return on equity of 5.93%. During the same quarter in the previous year, the firm posted $0.14 EPS.
RWT has been the subject of a number of other reports. Raymond James raised their price target on Redwood Trust from $8.50 to $9.50 and gave the company a "strong-buy" rating in a research note on Thursday, September 19th. StockNews.com downgraded shares of Redwood Trust from a "hold" rating to a "sell" rating in a report on Friday. JPMorgan Chase & Co. upped their price target on shares of Redwood Trust from $7.50 to $8.00 and gave the stock an "overweight" rating in a research report on Thursday, October 17th. Piper Sandler lifted their price objective on shares of Redwood Trust from $6.50 to $7.50 and gave the company a "neutral" rating in a research report on Monday, August 5th. Finally, Wells Fargo & Company boosted their price objective on shares of Redwood Trust from $7.50 to $8.50 and gave the stock an "equal weight" rating in a research note on Friday, September 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $8.19.
View Our Latest Stock Analysis on Redwood Trust
NYSE:RWT opened at $7.27 on Monday. Redwood Trust has a 52-week low of $5.45 and a 52-week high of $8.15. The company has a market cap of $961.24 million, a P/E ratio of 13.22 and a beta of 1.59. The company has a debt-to-equity ratio of 13.75, a quick ratio of 50.47 and a current ratio of 50.47. The stock's 50-day simple moving average is $7.59 and its 200 day simple moving average is $6.96.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Concurrent Investment Advisors LLC boosted its stake in shares of Redwood Trust by 269.9% in the third quarter. Concurrent Investment Advisors LLC now owns 39,273 shares of the real estate investment trust's stock valued at $304,000 after buying an additional 28,655 shares during the period. Ceredex Value Advisors LLC raised its holdings in Redwood Trust by 22.8% in the 3rd quarter. Ceredex Value Advisors LLC now owns 1,113,600 shares of the real estate investment trust's stock valued at $8,608,000 after acquiring an additional 207,088 shares in the last quarter. Golden State Equity Partners lifted its position in shares of Redwood Trust by 19.3% during the 3rd quarter. Golden State Equity Partners now owns 70,562 shares of the real estate investment trust's stock valued at $545,000 after acquiring an additional 11,396 shares during the period. Clear Harbor Asset Management LLC bought a new stake in shares of Redwood Trust during the 3rd quarter valued at $722,000. Finally, Creative Planning acquired a new stake in shares of Redwood Trust during the 3rd quarter worth $91,000. Institutional investors and hedge funds own 74.34% of the company's stock.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 9.35%. The ex-dividend date was Monday, September 23rd. This is a boost from Redwood Trust's previous quarterly dividend of $0.16. Redwood Trust's payout ratio is currently 123.64%.
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.
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