Redwood Trust (RWT) Set to Announce Earnings on Thursday

Redwood Trust (NYSE:RWT) is scheduled to release its earnings data before the market opens on Thursday, August 1st. Analysts expect the company to announce earnings of $0.12 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Redwood Trust Stock Performance

Shares of RWT opened at $7.35 on Wednesday. The company has a market capitalization of $970.64 million, a PE ratio of 104.93 and a beta of 1.58. The company has a debt-to-equity ratio of 10.66, a current ratio of 9.09 and a quick ratio of 9.09. Redwood Trust has a one year low of $5.45 and a one year high of $8.30. The company’s fifty day moving average price is $6.67 and its 200 day moving average price is $6.43.

Redwood Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 21st were paid a $0.16 dividend. The ex-dividend date was Friday, June 21st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 8.71%. Redwood Trust’s payout ratio is presently 914.29%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on RWT shares. JPMorgan Chase & Co. raised their target price on Redwood Trust from $7.00 to $7.50 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Wedbush reaffirmed a “neutral” rating and set a $6.50 target price on shares of Redwood Trust in a research report on Wednesday, May 1st. JMP Securities increased their price target on shares of Redwood Trust from $8.00 to $8.50 and gave the company a “market outperform” rating in a report on Friday, July 19th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Redwood Trust from $7.75 to $7.25 and set an “outperform” rating on the stock in a research report on Wednesday, April 10th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $7.69.

Insider Buying and Selling

In related news, CFO Brooke Carillo acquired 15,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were bought at an average cost of $6.25 per share, with a total value of $93,750.00. Following the completion of the acquisition, the chief financial officer now owns 56,772 shares of the company’s stock, valued at $354,825. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.50% of the company’s stock.

About Redwood Trust

Redwood Trust, Inc, together with its subsidiaries, operates as a specialty finance company in the United States. The company operates through three segments: Residential Consumer Mortgage Banking, Residential Investor Mortgage Banking, and Investment Portfolio. The Residential Consumer Mortgage Banking segment operates a mortgage loan conduit that acquires residential loans from third-party originators for subsequent sale, securitization, or transfer to its investment portfolio.