Wall Street analysts expect Redwood Trust, Inc. (NYSE:RWT) to report earnings per share of $0.35 for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Redwood Trust’s earnings. Redwood Trust reported earnings per share of $0.36 in the same quarter last year, which would suggest a negative year over year growth rate of 2.8%. The firm is expected to report its next earnings report on Thursday, May 3rd.
According to Zacks, analysts expect that Redwood Trust will report full year earnings of $1.44 per share for the current financial year. For the next financial year, analysts anticipate that the company will report earnings of $1.44 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover Redwood Trust.
Redwood Trust (NYSE:RWT) last announced its earnings results on Thursday, February 22nd. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. Redwood Trust had a net margin of 41.42% and a return on equity of 9.99%. The business had revenue of $35.00 million during the quarter, compared to analyst estimates of $37.55 million. During the same period in the previous year, the business posted $0.33 earnings per share. Redwood Trust’s revenue for the quarter was down 2.8% on a year-over-year basis.
Several equities research analysts have issued reports on RWT shares. Zacks Investment Research upgraded shares of Redwood Trust from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 10th. ValuEngine lowered shares of Redwood Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $17.00.
Redwood Trust stock traded up $0.06 during mid-day trading on Monday, hitting $15.19. 296,794 shares of the company traded hands, compared to its average volume of 500,624. Redwood Trust has a one year low of $14.29 and a one year high of $17.45. The firm has a market cap of $1,143.18, a PE ratio of 10.93 and a beta of 0.61. The company has a debt-to-equity ratio of 3.08, a current ratio of 2.61 and a quick ratio of 2.61.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th were given a dividend of $0.28 per share. The ex-dividend date was Wednesday, March 14th. This represents a $1.12 annualized dividend and a yield of 7.37%. Redwood Trust’s payout ratio is presently 80.58%.
Institutional investors have recently made changes to their positions in the business. Amalgamated Bank bought a new stake in Redwood Trust during the fourth quarter valued at approximately $153,000. SG Americas Securities LLC purchased a new position in shares of Redwood Trust during the third quarter worth approximately $283,000. Xact Kapitalforvaltning AB purchased a new position in shares of Redwood Trust during the fourth quarter worth approximately $280,000. Eqis Capital Management Inc. raised its stake in shares of Redwood Trust by 29.8% during the fourth quarter. Eqis Capital Management Inc. now owns 23,316 shares of the real estate investment trust’s stock worth $346,000 after acquiring an additional 5,357 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of Redwood Trust during the third quarter worth approximately $415,000. Institutional investors and hedge funds own 88.07% of the company’s stock.
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About Redwood Trust
Redwood Trust, Inc, together with its subsidiaries, engages in mortgage banking activities in the United States. The company operates through two segments, Investment Portfolio and Residential Mortgage Banking. The Investment Portfolio segment offers a portfolio of investments in residential mortgage-backed securities retained from Sequoia securitizations, and issued by third parties and other credit risk-related investments; and invests in residential loans held for investment and mortgage servicing rights associated with residential loans.
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