Analysts expect Redwood Trust, Inc. (NYSE:RWT) to report $35.00 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Redwood Trust’s earnings, with the highest sales estimate coming in at $43.90 million and the lowest estimate coming in at $18.11 million. Redwood Trust posted sales of $24.00 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 45.8%. The company is expected to report its next quarterly earnings results on Wednesday, February 9th.
On average, analysts expect that Redwood Trust will report full year sales of $133.83 million for the current year, with estimates ranging from $116.49 million to $143.00 million. For the next financial year, analysts anticipate that the company will report sales of $177.58 million, with estimates ranging from $146.45 million to $202.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Redwood Trust.
Redwood Trust (NYSE:RWT) last announced its quarterly earnings data on Wednesday, October 27th. The real estate investment trust reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.39. Redwood Trust had a net margin of 61.49% and a return on equity of 14.89%. During the same period in the prior year, the firm posted $0.25 earnings per share.
Shares of RWT traded up $0.02 during midday trading on Friday, reaching $13.89. The stock had a trading volume of 419,530 shares, compared to its average volume of 1,080,574. The firm has a 50 day simple moving average of $13.50 and a 200-day simple moving average of $12.44. Redwood Trust has a one year low of $8.38 and a one year high of $14.17. The firm has a market cap of $1.57 billion, a PE ratio of 5.67 and a beta of 0.91. The company has a current ratio of 6.01, a quick ratio of 6.01 and a debt-to-equity ratio of 7.04.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 30th. Shareholders of record on Thursday, September 23rd were issued a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, September 22nd. This represents a $0.84 dividend on an annualized basis and a yield of 6.05%. This is an increase from Redwood Trust’s previous quarterly dividend of $0.18. Redwood Trust’s payout ratio is currently 34.29%.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Hong Kong Ltd acquired a new position in shares of Redwood Trust in the 3rd quarter valued at approximately $42,000. Rockefeller Capital Management L.P. raised its position in shares of Redwood Trust by 461.7% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 4,072 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 3,347 shares in the last quarter. AdvisorNet Financial Inc raised its position in shares of Redwood Trust by 17.3% in the 3rd quarter. AdvisorNet Financial Inc now owns 5,075 shares of the real estate investment trust’s stock valued at $65,000 after buying an additional 750 shares in the last quarter. USA Financial Portformulas Corp acquired a new position in shares of Redwood Trust in the 2nd quarter valued at approximately $69,000. Finally, Macquarie Group Ltd. raised its position in shares of Redwood Trust by 20.0% in the 2nd quarter. Macquarie Group Ltd. now owns 6,061 shares of the real estate investment trust’s stock valued at $73,000 after buying an additional 1,011 shares in the last quarter. 70.63% of the stock is owned by hedge funds and other institutional investors.
About Redwood Trust
Redwood Trust, Inc is a financial company, which focuses on several distinct areas of housing credit. It operates through the segments: Residential Lending, Business Purpose Lending, Third-Party Investments, and Corporate. The Residential Lending segment consists of a mortgage loan conduit that acquires residential loans from third-party originators for subsequent sale, securitization, or transfer into the investment portfolio.
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