Equities research analysts predict that Redwood Trust, Inc. (NYSE:RWT) will post $0.35 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Redwood Trust’s earnings. Redwood Trust posted 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 company 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 fiscal year. For the next financial year, analysts forecast that the business will report earnings of $1.44 per share. Zacks’ earnings per share calculations are an average based on a survey of analysts that that provide coverage for Redwood Trust.
Redwood Trust (NYSE:RWT) last posted its earnings results on Thursday, February 22nd. The real estate investment trust reported $0.35 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. Redwood Trust had a return on equity of 9.99% and a net margin of 41.42%. The firm 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 company earned $0.33 EPS. The company’s revenue for the quarter was down 2.8% on a year-over-year basis.
RWT has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Redwood Trust from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 10th. ValuEngine lowered Redwood Trust from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $17.00.
Several hedge funds have recently modified their holdings of the company. Xact Kapitalforvaltning AB acquired a new position in shares of Redwood Trust during the fourth quarter worth approximately $280,000. MetLife Investment Advisors LLC acquired a new position in shares of Redwood Trust during the fourth quarter worth approximately $497,000. Millennium Management LLC lifted its holdings in shares of Redwood Trust by 16.0% during the fourth quarter. Millennium Management LLC now owns 857,374 shares of the real estate investment trust’s stock worth $12,706,000 after buying an additional 118,048 shares during the last quarter. HBK Investments L P acquired a new position in shares of Redwood Trust during the fourth quarter worth approximately $409,000. Finally, Two Sigma Investments LP lifted its holdings in shares of Redwood Trust by 65.0% during the fourth quarter. Two Sigma Investments LP now owns 344,693 shares of the real estate investment trust’s stock worth $5,108,000 after buying an additional 135,728 shares during the last quarter. Institutional investors own 88.06% of the company’s stock.
Shares of RWT stock traded down $0.02 during trading hours on Monday, reaching $15.47. 72,298 shares of the company’s stock were exchanged, compared to its average volume of 504,200. Redwood Trust has a fifty-two week low of $14.29 and a fifty-two week high of $17.45. The firm has a market cap of $1,170.38, a PE ratio of 11.13 and a beta of 0.61. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 3.08.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th were issued a dividend of $0.28 per share. The ex-dividend date was Wednesday, March 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.24%. Redwood Trust’s dividend payout ratio (DPR) is presently 80.58%.
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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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