Redwood Trust (NYSE:RWT) Releases Earnings Results

Redwood Trust (NYSE:RWT) announced its earnings results on Thursday. The real estate investment trust reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03), Zacks reports. Redwood Trust had a return on equity of 6.01% and a net margin of 9.35%.

Redwood Trust Stock Up 0.3 %

RWT traded up $0.02 during trading on Thursday, reaching $6.46. The company had a trading volume of 669,828 shares, compared to its average volume of 791,093. The company has a debt-to-equity ratio of 14.55, a current ratio of 44.36 and a quick ratio of 44.36. Redwood Trust has a 12 month low of $5.45 and a 12 month high of $8.15. The business’s fifty day moving average price is $6.59 and its 200 day moving average price is $7.10. The company has a market cap of $856.34 million, a P/E ratio of 11.75 and a beta of 1.57.

Redwood Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 23rd were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $0.72 dividend on an annualized basis and a yield of 11.14%. This is a boost from Redwood Trust’s previous quarterly dividend of $0.17. Redwood Trust’s payout ratio is currently 130.91%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on RWT shares. JPMorgan Chase & Co. lowered their price target on shares of Redwood Trust from $7.00 to $6.50 and set a “neutral” rating for the company in a research report on Tuesday, January 21st. StockNews.com upgraded shares of Redwood Trust from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Finally, JMP Securities lowered their price target on shares of Redwood Trust from $9.00 to $8.00 and set a “market outperform” rating for the company in a research report on Thursday, January 23rd. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Redwood Trust currently has an average rating of “Moderate Buy” and a consensus target price of $7.84.

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.