$35.00 Million in Sales Expected for Redwood Trust, Inc. (NYSE:RWT) This Quarter

Analysts expect Redwood Trust, Inc. (NYSE:RWT) to post sales of $35.00 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Redwood Trust’s earnings. The lowest sales estimate is $18.11 million and the highest is $43.90 million. Redwood Trust reported sales of $24.00 million during the same quarter last year, which would suggest a positive year over year growth rate of 45.8%. The business is scheduled to issue its next earnings report on Wednesday, February 9th.

According to Zacks, analysts expect that Redwood Trust will report full year sales of $133.83 million for the current year, with estimates ranging from $116.49 million to $143.00 million. For the next year, analysts anticipate that the business will report sales of $177.58 million, with estimates ranging from $146.45 million to $202.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Redwood Trust.

Redwood Trust (NYSE:RWT) last released its earnings results on Wednesday, October 27th. The real estate investment trust reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.39. Redwood Trust had a net margin of 61.49% and a return on equity of 14.89%. During the same period in the previous year, the firm earned $0.25 earnings per share.

Several equities research analysts recently weighed in on RWT shares. Raymond James increased their target price on shares of Redwood Trust from $16.00 to $16.50 and gave the company a “strong-buy” rating in a research note on Thursday, October 28th. Wells Fargo & Company started coverage on shares of Redwood Trust in a research report on Monday, November 1st. They issued an “equal weight” rating and a $14.00 price target for the company. Credit Suisse Group increased their price target on shares of Redwood Trust from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Monday, September 13th. Finally, JMP Securities reissued a “buy” rating and issued a $15.00 price target on shares of Redwood Trust in a research report on Friday, September 24th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Redwood Trust presently has an average rating of “Buy” and an average target price of $13.61.

Hedge funds and other institutional investors have recently bought and sold shares of the company. WINTON GROUP Ltd acquired a new stake in shares of Redwood Trust during the second quarter worth approximately $332,000. Amundi Asset Management US Inc. increased its holdings in shares of Redwood Trust by 13.4% during the first 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 grew its stake in shares of Redwood Trust by 35.1% during the second quarter. Van ECK Associates Corp now owns 717,442 shares of the real estate investment trust’s stock valued at $8,660,000 after purchasing an additional 186,309 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its stake in shares of Redwood Trust by 39.1% during the first quarter. Schonfeld Strategic Advisors LLC now owns 16,000 shares of the real estate investment trust’s stock valued at $167,000 after purchasing an additional 4,500 shares during the last quarter. Finally, Brighton Jones LLC grew its stake in shares of Redwood Trust by 31.2% during the second quarter. Brighton Jones LLC now owns 25,272 shares of the real estate investment trust’s stock valued at $305,000 after purchasing an additional 6,016 shares during the last quarter. 70.63% of the stock is owned by institutional investors.

Shares of NYSE RWT traded up $0.02 during mid-day trading on Friday, hitting $13.89. The company had a trading volume of 419,530 shares, compared to its average volume of 1,080,574. The company has a debt-to-equity ratio of 7.04, a current ratio of 6.01 and a quick ratio of 6.01. The business’s 50-day simple moving average is $13.50 and its 200-day simple moving average is $12.44. Redwood Trust has a 12 month low of $8.38 and a 12 month high of $14.17. The firm has a market cap of $1.57 billion, a P/E ratio of 5.67 and a beta of 0.91.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 30th. Stockholders of record on Thursday, September 23rd were issued a dividend of $0.21 per share. This is a positive change from Redwood Trust’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Wednesday, September 22nd. This represents a $0.84 annualized dividend and a dividend yield of 6.05%. Redwood Trust’s dividend payout ratio (DPR) is presently 34.29%.

Redwood Trust Company Profile

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.

Featured Article: What Does An Overweight Rating Mean?

Get a free copy of the Zacks research report on Redwood Trust (RWT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Redwood Trust (NYSE:RWT)

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.