Key Points
- Insider Sasha Macomber purchased 4,895 Redwood Trust shares at an average price of $4.08, investing nearly $20,000 and increasing their position by 5.41% to 95,298 shares.
- Redwood Trust reported quarterly EPS of $0.25, exceeding analyst estimates of $0.23, although revenue of $56.01 million fell short of the $89.45 million consensus forecast.
- The company declared a quarterly dividend of $0.18 per share, equivalent to a $0.72 annualized payout and a stated 17.8% yield. Analysts have an overall “Hold” rating and a consensus price target of $5.84.
Redwood Trust, Inc. (NYSE:RWT - Get Free Report) insider Sasha Macomber purchased 4,895 shares of the business's stock in a transaction dated Monday, September 21st. The shares were acquired at an average cost of $4.08 per share, for a total transaction of $19,971.60. Following the acquisition, the insider owned 95,298 shares of the company's stock, valued at approximately $388,815.84. The trade was a 5.41% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Redwood Trust Trading Up 2.5%
NYSE:RWT opened at $4.04 on Tuesday. The stock has a market cap of $507.46 million, a price-to-earnings ratio of -100.97 and a beta of 1.37. The company has a debt-to-equity ratio of 31.69, a quick ratio of 67.49 and a current ratio of 67.49. Redwood Trust, Inc. has a 1 year low of $3.22 and a 1 year high of $6.97. The business has a fifty day moving average of $4.59 and a 200-day moving average of $5.13.
Redwood Trust (NYSE:RWT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $0.25 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.02. Redwood Trust had a net margin of 0.42% and a return on equity of 16.02%. The business had revenue of $56.01 million for the quarter, compared to analyst estimates of $89.45 million. Equities analysts predict that Redwood Trust, Inc. will post 1.03 earnings per share for the current year.
Redwood Trust Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 23rd will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 17.8%. The ex-dividend date of this dividend is Wednesday, September 23rd. Redwood Trust's dividend payout ratio is currently -1,800.00%.
Wall Street Analyst Weigh In
RWT has been the subject of a number of recent analyst reports. UBS Group decreased their price objective on shares of Redwood Trust from $7.00 to $6.50 and set a "buy" rating for the company in a research note on Friday, August 21st. BTIG Research reaffirmed a "buy" rating and issued a $6.00 target price on shares of Redwood Trust in a research report on Tuesday, July 28th. Weiss Ratings reiterated a "sell (d)" rating on shares of Redwood Trust in a report on Wednesday, June 24th. Zacks Research raised Redwood Trust from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 15th. Finally, JPMorgan Chase & Co. reduced their price objective on Redwood Trust from $6.50 to $6.00 and set an "overweight" rating for the company in a research note on Friday, July 17th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $5.84.
Read Our Latest Stock Report on Redwood Trust
Institutional Trading of Redwood Trust
Institutional investors have recently added to or reduced their stakes in the business. WINTON GROUP Ltd increased its stake in shares of Redwood Trust by 10.8% during the 2nd quarter. WINTON GROUP Ltd now owns 76,700 shares of the real estate investment trust's stock worth $364,000 after purchasing an additional 7,500 shares during the last quarter. Engineers Gate Manager LP raised its holdings in shares of Redwood Trust by 33.5% during the 2nd quarter. Engineers Gate Manager LP now owns 45,400 shares of the real estate investment trust's stock valued at $215,000 after purchasing an additional 11,400 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Redwood Trust in the 2nd quarter valued at $157,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Redwood Trust in the 2nd quarter valued at $990,000. Finally, Two Sigma Securities LLC bought a new stake in Redwood Trust in the second quarter worth $140,000. 74.34% of the stock is currently owned by institutional investors and hedge funds.
About Redwood Trust
(
Get Free Report)
Redwood Trust, Inc is a real estate investment trust that focuses on residential real estate credit. The company invests in, finances and manages residential mortgage assets, including jumbo and other non-agency mortgage loans, mortgage-backed securities and related credit investments. Its activities are primarily focused on the U.S. housing market.
Redwood operates through businesses that support the origination, financing and securitization of residential mortgage credit. Its platform has historically included Sequoia, which acquires and securitizes residential loans, as well as CoreVest, which provides financing to residential real estate investors and developers.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
