Wall Street analysts expect Redwood Trust, Inc. (NYSE:RWT) to post earnings per share (EPS) of $0.34 for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Redwood Trust’s earnings. Redwood Trust reported earnings per share of $0.33 during the same quarter last year, which would suggest a positive year over year growth rate of 3%. The company is scheduled to announce its next quarterly earnings results on Thursday, February 22nd.
According to Zacks, analysts expect that Redwood Trust will report full-year earnings of $1.39 per share for the current fiscal year. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.44 per share. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Redwood Trust.
Redwood Trust (NYSE:RWT) last announced its quarterly earnings data on Monday, November 6th. The real estate investment trust reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.04). The firm had revenue of $35.00 million during the quarter, compared to analyst estimates of $36.86 million. Redwood Trust had a net margin of 41.62% and a return on equity of 9.87%. Redwood Trust’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.58 EPS.
A number of brokerages recently commented on RWT. ValuEngine upgraded shares of Redwood Trust from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Keefe, Bruyette & Woods upgraded shares of Redwood Trust from a “market perform” rating to an “outperform” rating in a research report on Thursday, December 7th. Deutsche Bank reduced their price objective on shares of Redwood Trust from $18.50 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, November 8th. Finally, Zacks Investment Research downgraded shares of Redwood Trust from a “hold” rating to a “strong sell” rating in a research report on Friday, November 10th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Redwood Trust has a consensus rating of “Buy” and a consensus target price of $17.00.
In other news, General Counsel Andrew P. Stone sold 5,000 shares of Redwood Trust stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $14.87, for a total transaction of $74,350.00. Following the completion of the sale, the general counsel now directly owns 53,015 shares in the company, valued at approximately $788,333.05. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.33% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio lifted its position in shares of Redwood Trust by 1.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,003 shares of the real estate investment trust’s stock valued at $119,000 after acquiring an additional 113 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Redwood Trust during the 3rd quarter valued at approximately $215,000. Advisory Services Network LLC lifted its position in shares of Redwood Trust by 3.7% during the 2nd quarter. Advisory Services Network LLC now owns 14,154 shares of the real estate investment trust’s stock valued at $241,000 after acquiring an additional 510 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Redwood Trust during the 3rd quarter valued at approximately $283,000. Finally, Legal & General Group Plc lifted its position in shares of Redwood Trust by 48.4% during the 2nd quarter. Legal & General Group Plc now owns 16,897 shares of the real estate investment trust’s stock valued at $288,000 after acquiring an additional 5,510 shares during the period. Institutional investors own 85.34% of the company’s stock.
Shares of Redwood Trust (NYSE:RWT) traded down $0.26 during trading hours on Wednesday, reaching $14.84. 654,495 shares of the company were exchanged, compared to its average volume of 487,226. The company has a debt-to-equity ratio of 2.91, a quick ratio of 3.36 and a current ratio of 3.36. The firm has a market capitalization of $1,164.43, a P/E ratio of 9.39 and a beta of 0.79. Redwood Trust has a 1 year low of $14.29 and a 1 year high of $17.45.
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About Redwood Trust
Redwood Trust, Inc, through its subsidiaries, focuses on investing in mortgage and other real estate related assets. The Company is engaged in mortgage banking activities. The Company operates through three segments: Residential Investments, Residential Mortgage Banking and Commercial. The Residential Investments segment includes a portfolio of investments in residential mortgage-backed securities (RMBS) retained from its Sequoia securitizations.
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