Stock analysts release earnings guidance for Redwood Trust, Inc. in Q3 2021 (NYSE: RWT)
Redwood Trust, Inc. (NYSE: RWT) – Piper Sandler analysts increased their earnings per share estimates for the third quarter of 2021 for shares of Redwood Trust in a note to investors on Monday, September 20. Piper Sandler analyst K. Barker now predicts the REIT will post earnings of $ 0.30 per share for the quarter, up from its previous forecast of $ 0.29. Piper Sandler has an “overweight” rating and a target price of $ 14.00 on the stock. Piper Sandler also released estimates for Redwood Trust earnings in Q4 2021 at $ 0.31 EPS, Q1 2022 earnings at $ 0.35 EPS, Q2 2022 earnings at $ 0.40 EPS, Q3 2022 earnings at 0.38 $ EPS, Q4 2022 earnings at $ 0.38 EPS, Q1 2023 earnings at $ 0.38 EPS, Second quarter 2023 earnings at $ 0.43 per share and Fiscal 2023 earnings at $ 1.66 per share.
Other research analysts have also published reports on the company. BTIG Research increased its price target on Redwood Trust from $ 12.50 to $ 13.50 and gave the stock a “buy” rating in a research report published on Tuesday, June 15. JMP Securities raised its price target on Redwood Trust from $ 12.00 to $ 13.50 and gave the stock a “market outperformance” rating in a research report released Thursday, June 24. Credit Suisse Group raised its price target on Redwood Trust from $ 13.00 to $ 14.00 and gave the stock an “outperformance” rating in a research report on Monday, September 13. Raymond James raised his price target on Redwood Trust from $ 14.50 to $ 16.00 and gave the stock a “strong buy” rating in a research report on Thursday, July 29. Finally, Zacks Investment Research downgraded Redwood Trust from a âholdâ rating to a âbuyâ rating and set a price target of $ 14.00 for the company in a research report released on Wednesday, July 14. Seven analysts rated the stock with a buy rating and one gave the company a high buy rating. According to data from MarketBeat, the company currently has an average rating of âBuyâ and a consensus target price of $ 13.31.
RWT stock opened at $ 12.44 on Tuesday. The company has a debt to equity ratio of 6.97, a current ratio of 6.63 and a rapid ratio of 6.63. The company has a 50-day simple moving average of $ 12.19 and a 200-day simple moving average of $ 11.45. The company has a market cap of $ 1.41 billion, a PE ratio of 4.41 and a beta of 0.97. Redwood Trust has a one-year minimum of $ 7.11 and a one-year maximum of $ 12.73.
Several institutional investors and hedge funds have recently bought and sold shares in the company. BlackRock Inc. increased its holdings of Redwood Trust shares by 5.6% in the first quarter. BlackRock Inc. now owns 20,917,191 REIT shares valued at $ 217,747,000 after purchasing an additional 1,113,684 shares during the last quarter. Vanguard Group Inc. increased its holdings of Redwood Trust shares by 0.5% in the second quarter. Vanguard Group Inc. now owns 11,869,947 Real Estate Investment Trust shares valued at $ 143,270,000 after purchasing an additional 63,448 shares in the last quarter. State Street Corp increased its holdings of Redwood Trust shares by 4.3% in the second quarter. State Street Corp now owns 3,926,249 real estate investment trust shares worth $ 47,390,000 after purchasing an additional 160,488 shares in the last quarter. Amundi Asset Management US Inc. increased its stake in Redwood Trust by 13.4% in the 1st quarter. Amundi Asset Management US Inc. now holds 2,588,749 shares of the SICAV valued at $ 26,950,000 after the purchase of 305,805 additional shares in the last quarter. Finally, in the second quarter Amundi took a new stake in Redwood Trust for an amount of approximately $ 27,366,000. Institutional investors and hedge funds hold 70.61% of the company’s shares.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 30. Shareholders of record on Thursday, September 23 will receive a dividend of $ 0.21 per share. The ex-dividend date is Wednesday September 22. This represents a dividend of $ 0.84 on an annualized basis and a dividend yield of 6.75%. This is a boost from Redwood Trust’s previous quarterly dividend of $ 0.18. Redwood Trust’s payout ratio is 1,800.00%.
Redwood Trust Company Profile
Redwood Trust, Inc. is a financial company that focuses on several distinct areas of mortgage lending. It operates through the following segments: residential loans, commercial loans, third-party investments and businesses. The Residential Loans segment consists of a mortgage conduit that acquires residential loans from third party originators with a view to their sale, securitization or subsequent transfer into the investment portfolio.
Recommended Story: Trading Signals Using Bollinger Bands
This instant news alert was powered by storytelling technology and MarketBeat financial data to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [emailÂ protected]
Should you invest $ 1,000 in Redwood Trust now?
Before you consider Redwood Trust, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat identified the five stocks that top analysts quietly whisper to their clients to buy now before the broader market takes hold … and Redwood Trust was not on the list.
While Redwood Trust currently has a âBuyâ rating among analysts, top-rated analysts believe these five stocks are better bets.
See the 5 actions here