Redwood Trust (NYSE:RWT) Stock Price Crosses Above Two Hundred Day Moving Average of $16.58

Shares of Redwood Trust, Inc. (NYSE:RWT) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $16.58 and traded as high as $17.23. Redwood Trust shares last traded at $17.16, with a volume of 87,505 shares changing hands.

RWT has been the subject of several analyst reports. ValuEngine raised shares of Redwood Trust from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. Zacks Investment Research lowered shares of Redwood Trust from a “buy” rating to a “hold” rating in a research note on Thursday, November 21st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $17.75.

The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 9.63 and a beta of 0.59. The company has a debt-to-equity ratio of 6.33, a quick ratio of 6.20 and a current ratio of 6.20. The stock’s 50-day simple moving average is $16.55 and its two-hundred day simple moving average is $16.59.

Redwood Trust (NYSE:RWT) last released its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.03). The firm had revenue of $34.00 million for the quarter, compared to analyst estimates of $44.50 million. Redwood Trust had a return on equity of 10.37% and a net margin of 19.44%. During the same period in the prior year, the firm earned $0.39 EPS. As a group, research analysts predict that Redwood Trust, Inc. will post 1.5 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 16th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 7.00%. The ex-dividend date was Friday, December 13th. Redwood Trust’s dividend payout ratio is 67.42%.

In other Redwood Trust news, General Counsel Andrew P. Stone sold 15,000 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $16.62, for a total transaction of $249,300.00. Following the completion of the transaction, the general counsel now owns 99,176 shares of the company’s stock, valued at approximately $1,648,305.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.50% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Redwood Trust by 25.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,898 shares of the real estate investment trust’s stock valued at $97,000 after buying an additional 1,194 shares during the last quarter. AdvisorNet Financial Inc raised its position in shares of Redwood Trust by 14.8% during the third quarter. AdvisorNet Financial Inc now owns 6,200 shares of the real estate investment trust’s stock valued at $102,000 after buying an additional 800 shares during the last quarter. North Star Investment Management Corp. acquired a new position in shares of Redwood Trust during the third quarter valued at about $116,000. Catalyst Capital Advisors LLC raised its position in shares of Redwood Trust by 138.2% during the third quarter. Catalyst Capital Advisors LLC now owns 7,170 shares of the real estate investment trust’s stock valued at $117,000 after buying an additional 4,160 shares during the last quarter. Finally, Country Club Trust Company n.a. acquired a new position in shares of Redwood Trust during the third quarter valued at about $173,000. 94.02% of the stock is owned by institutional investors and hedge funds.

About Redwood Trust (NYSE:RWT)

Redwood Trust, Inc, together with its subsidiaries, operates as a specialty finance company 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, as well as issued by third parties and other credit risk-related investments; and invests directly in residential mortgage loans.

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