Wedbush reaffirmed their neutral rating on shares of Redwood Trust (NYSE:RWT – Free Report) in a report issued on Wednesday morning, Benzinga reports. The firm currently has a $6.50 price objective on the real estate investment trust’s stock.
Other research analysts also recently issued reports about the company. Piper Sandler dropped their price target on Redwood Trust from $7.50 to $7.00 and set a neutral rating for the company in a research note on Wednesday, February 21st. JMP Securities reiterated a market outperform rating and issued a $8.00 price target on shares of Redwood Trust in a research note on Thursday, April 18th. Wells Fargo & Company cut their price objective on Redwood Trust from $8.00 to $7.00 and set an equal weight rating for the company in a research report on Wednesday, February 21st. Raymond James decreased their target price on Redwood Trust from $9.00 to $8.50 and set a strong-buy rating on the stock in a research report on Friday, January 19th. Finally, UBS Group cut their price target on Redwood Trust from $9.00 to $8.50 and set a buy rating for the company in a report on Tuesday, March 5th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $7.66.
View Our Latest Analysis on Redwood Trust
Redwood Trust Trading Up 11.8 %
Redwood Trust Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 21st were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 10.36%. The ex-dividend date of this dividend was Wednesday, March 20th. Redwood Trust’s payout ratio is 914.29%.
Hedge Funds Weigh In On Redwood Trust
Several large investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in Redwood Trust in the third quarter worth $101,000. Inspire Investing LLC purchased a new position in shares of Redwood Trust during the 3rd quarter worth about $306,000. Allspring Global Investments Holdings LLC boosted its position in shares of Redwood Trust by 45.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,965 shares of the real estate investment trust’s stock valued at $57,000 after buying an additional 2,498 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Redwood Trust by 3.4% during the third quarter. Nisa Investment Advisors LLC now owns 91,420 shares of the real estate investment trust’s stock valued at $652,000 after buying an additional 3,042 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Redwood Trust by 383.2% in the third quarter. Victory Capital Management Inc. now owns 128,334 shares of the real estate investment trust’s stock worth $915,000 after buying an additional 101,774 shares during the period. Institutional investors own 74.34% of the company’s stock.
Redwood Trust Company Profile
Redwood Trust, Inc, together with its subsidiaries, operates as a specialty finance company in the United States. The company operates through three segments: Residential Consumer Mortgage Banking, Residential Investor Mortgage Banking, and Investment Portfolio. The Residential Consumer Mortgage Banking segment operates a mortgage loan conduit that acquires residential loans from third-party originators for subsequent sale, securitization, or transfer to its investment portfolio.
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