Redwood Trust, Inc. (NYSE:RWT – Get Rating) – Wedbush dropped their Q2 2023 earnings per share (EPS) estimates for shares of Redwood Trust in a research report issued to clients and investors on Monday, May 1st. Wedbush analyst J. Mccanless now anticipates that the real estate investment trust will post earnings of $0.08 per share for the quarter, down from their previous forecast of $0.19. The consensus estimate for Redwood Trust’s current full-year earnings is $0.76 per share. Wedbush also issued estimates for Redwood Trust’s Q3 2023 earnings at $0.14 EPS, Q4 2023 earnings at $0.17 EPS, FY2023 earnings at $0.50 EPS and FY2024 earnings at $1.00 EPS.
Other equities analysts have also recently issued reports about the stock. Wells Fargo & Company lifted their price target on shares of Redwood Trust from $7.50 to $8.50 and gave the stock an “equal weight” rating in a research report on Friday, February 10th. Piper Sandler decreased their price objective on Redwood Trust from $8.50 to $7.00 in a research report on Wednesday. StockNews.com upgraded Redwood Trust from a “sell” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. cut their price target on shares of Redwood Trust from $8.00 to $7.50 in a research report on Monday, April 24th. Finally, Keefe, Bruyette & Woods lowered their target price on Redwood Trust from $9.00 to $8.50 and set an “outperform” rating on the stock in a research report on Tuesday, February 14th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $8.83.
Redwood Trust Price Performance
Hedge Funds Weigh In On Redwood Trust
Institutional investors have recently modified their holdings of the business. Bank of Montreal Can increased its position in shares of Redwood Trust by 8.6% during the first quarter. Bank of Montreal Can now owns 34,331 shares of the real estate investment trust’s stock worth $371,000 after acquiring an additional 2,715 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Redwood Trust by 51.5% in the 1st quarter. MetLife Investment Management LLC now owns 59,710 shares of the real estate investment trust’s stock worth $629,000 after buying an additional 20,294 shares during the last quarter. Rhumbline Advisers grew its holdings in Redwood Trust by 2.6% during the first quarter. Rhumbline Advisers now owns 308,263 shares of the real estate investment trust’s stock valued at $3,246,000 after purchasing an additional 7,950 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Redwood Trust by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 98,861 shares of the real estate investment trust’s stock valued at $1,041,000 after purchasing an additional 12,189 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Redwood Trust by 1.2% during the first quarter. Vanguard Group Inc. now owns 12,245,804 shares of the real estate investment trust’s stock valued at $128,948,000 after purchasing an additional 150,771 shares during the period. Institutional investors and hedge funds own 71.73% of the company’s stock.
Redwood Trust Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Friday, March 24th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 16.14%. The ex-dividend date of this dividend was Thursday, March 23rd. Redwood Trust’s dividend payout ratio is currently -55.09%.
Redwood Trust Company Profile
Redwood Trust, Inc is a financial company, which focuses on several distinct areas of housing credit. It operates through the following segments: Residential Mortgage Banking, Business Purpose Mortgage Banking, and Investment Portfolio. The Residential Mortgage Banking 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.
Read More
- Get a free copy of the StockNews.com research report on Redwood Trust (RWT)
- Starbucks Stock Becomes a Value Play
- Kraft Heinz Recovery Gains Momentum
- Here’s Why AMD’s Weak Guidance Is A Blessing In Disguise
- BP Shares Sold Off After Earnings: Here Is What Upset Markets
- Will Forced Divesture Of Grail Boost Illumina Shareholder Value?
Receive News & Ratings for Redwood Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Redwood Trust and related companies with MarketBeat.com's FREE daily email newsletter.
