Redwood Trust (NYSE:RWT) Stock Price Passes Above 50-Day Moving Average of $16.19

Redwood Trust, Inc. (NYSE:RWT) shares passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $16.19 and traded as high as $16.55. Redwood Trust shares last traded at $16.55, with a volume of 11,061 shares traded.

Several research analysts recently commented on RWT shares. Zacks Investment Research upgraded shares of Eutelsat Communications from a “hold” rating to a “strong-buy” rating and set a $21.00 target price on the stock in a report on Wednesday, June 12th. Nomura dropped their target price on shares of Carnival from $66.00 to $61.00 and set a “buy” rating on the stock in a report on Wednesday, March 27th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $17.83.

The stock has a market cap of $1.59 billion, a PE ratio of 9.26 and a beta of 0.67. The company has a current ratio of 4.25, a quick ratio of 4.25 and a debt-to-equity ratio of 5.30. The stock has a fifty day simple moving average of $16.19.

Redwood Trust (NYSE:RWT) last announced its earnings results on Wednesday, May 8th. The real estate investment trust reported $0.36 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.02). The firm had revenue of $32.00 million during the quarter, compared to the consensus estimate of $44.20 million. Redwood Trust had a return on equity of 10.86% and a net margin of 24.71%. The business’s revenue was down 8.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.60 EPS. Equities research analysts anticipate that Redwood Trust, Inc. will post 1.48 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $1.20 annualized dividend and a yield of 7.28%. Redwood Trust’s dividend payout ratio is 67.42%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Truvestments Capital LLC acquired a new stake in Redwood Trust in the 1st quarter worth $28,000. Legacy Bridge LLC acquired a new stake in Redwood Trust in the 1st quarter worth $32,000. Catalyst Capital Advisors LLC acquired a new stake in Redwood Trust in the 1st quarter worth $55,000. Bank of Montreal Can grew its position in Redwood Trust by 77.1% in the 1st quarter. Bank of Montreal Can now owns 4,473 shares of the real estate investment trust’s stock worth $72,000 after purchasing an additional 1,947 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Redwood Trust by 19.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,704 shares of the real estate investment trust’s stock worth $76,000 after purchasing an additional 778 shares during the last quarter. Institutional investors own 94.92% of the company’s stock.

Redwood Trust Company Profile (NYSE:RWT)

Redwood Trust, Inc, together with its subsidiaries, operates as a specialty finance company in the United States. The company operates through two segments, Investment Portfolio and Residential Mortgage Banking. The Investment Portfolio segment offers a portfolio of investments in residential mortgage-backed securities retained from Sequoia securitizations, as well as issued by third parties and other credit risk-related investments; and invests directly in residential mortgage loans.

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