Redwood Trust, Inc. (NYSE:RWT) – Equities research analysts at Jefferies Financial Group increased their Q4 2021 earnings estimates for Redwood Trust in a research note issued on Tuesday, October 12th. Jefferies Financial Group analyst R. Carr now forecasts that the real estate investment trust will post earnings per share of $0.26 for the quarter, up from their previous estimate of $0.24. Jefferies Financial Group also issued estimates for Redwood Trust’s Q2 2022 earnings at $0.37 EPS and FY2022 earnings at $1.39 EPS.
Several other research analysts have also recently issued reports on the company. Raymond James upped their price objective on Redwood Trust from $14.50 to $16.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 29th. Zacks Investment Research raised Redwood Trust from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research report on Wednesday, July 14th. Credit Suisse Group upped their target price on Redwood Trust from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Monday, September 13th. Piper Sandler raised Redwood Trust from a “neutral” rating to an “overweight” rating and upped their target price for the company from $12.00 to $14.00 in a research report on Monday, July 19th. Finally, JMP Securities reissued a “buy” rating and issued a $15.00 target price on shares of Redwood Trust in a research report on Friday, September 24th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Redwood Trust has a consensus rating of “Buy” and an average target price of $13.50.
Hedge funds have recently modified their holdings of the company. WINTON GROUP Ltd purchased a new position in shares of Redwood Trust during the 2nd quarter worth approximately $332,000. Amundi Asset Management US Inc. raised its stake in shares of Redwood Trust by 13.4% during the 1st quarter. Amundi Asset Management US Inc. now owns 2,588,749 shares of the real estate investment trust’s stock worth $26,950,000 after buying an additional 305,805 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Redwood Trust by 35.1% during the 2nd quarter. Van ECK Associates Corp now owns 717,442 shares of the real estate investment trust’s stock worth $8,660,000 after buying an additional 186,309 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its stake in shares of Redwood Trust by 39.1% during the 1st quarter. Schonfeld Strategic Advisors LLC now owns 16,000 shares of the real estate investment trust’s stock worth $167,000 after buying an additional 4,500 shares in the last quarter. Finally, Quantbot Technologies LP raised its stake in shares of Redwood Trust by 25.2% during the 1st quarter. Quantbot Technologies LP now owns 32,961 shares of the real estate investment trust’s stock worth $343,000 after buying an additional 6,630 shares in the last quarter. 70.61% of the stock is owned by institutional investors and hedge funds.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 30th. Shareholders of record on Thursday, September 23rd were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 6.08%. This is a boost from Redwood Trust’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Wednesday, September 22nd. Redwood Trust’s dividend payout ratio (DPR) is presently 2,100.00%.
About Redwood Trust
Redwood Trust, Inc is a financial company, which focuses on several distinct areas of housing credit. It operates through the segments: Residential Lending, Business Purpose Lending, Third-Party Investments, and Corporate. The Residential Lending segment consists of a mortgage loan conduit that acquires residential loans from third-party originators for subsequent sale, securitization, or transfer into the investment portfolio.
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