Redwood Trust, Inc. (NYSE:RWT – Get Free Report) announced a quarterly dividend on Thursday, March 13th, RTT News reports. Investors of record on Monday, March 24th will be paid a dividend of 0.18 per share by the real estate investment trust on Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 11.28%. The ex-dividend date is Monday, March 24th.
Redwood Trust has decreased its dividend payment by an average of 4.9% annually over the last three years. Redwood Trust has a dividend payout ratio of 94.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Redwood Trust to earn $0.90 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 80.0%.
Redwood Trust Stock Performance
Shares of RWT stock opened at $6.39 on Friday. Redwood Trust has a 1 year low of $5.45 and a 1 year high of $8.15. The business has a fifty day moving average of $6.44 and a 200 day moving average of $7.00. The company has a debt-to-equity ratio of 14.09, a current ratio of 44.36 and a quick ratio of 44.36. The firm has a market capitalization of $846.14 million, a price-to-earnings ratio of 19.35 and a beta of 1.63.
Wall Street Analyst Weigh In
RWT has been the subject of several research analyst reports. JMP Securities restated a “market outperform” rating and issued a $8.00 price objective on shares of Redwood Trust in a research note on Friday, February 14th. JPMorgan Chase & Co. cut their price target on Redwood Trust from $7.00 to $6.50 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. Finally, StockNews.com upgraded shares of Redwood Trust from a “sell” rating to a “hold” rating in a report on Wednesday, March 5th. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $7.75.
Get Our Latest Stock Analysis on Redwood Trust
About Redwood Trust
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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