Redwood Trust, Inc. (NYSE:RWT) Declares Quarterly Dividend of $0.30

Redwood Trust, Inc. (NYSE:RWT) announced a quarterly dividend on Wednesday, August 7th, RTT News reports. Investors of record on Monday, September 16th will be given a dividend of 0.30 per share by the real estate investment trust on Monday, September 30th. This represents a $1.20 dividend on an annualized basis and a yield of 6.96%. The ex-dividend date is Friday, September 13th.

Redwood Trust has increased its dividend by an average of 1.8% annually over the last three years. Redwood Trust has a payout ratio of 67.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Redwood Trust to earn $1.68 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 71.4%.

NYSE RWT opened at $17.24 on Thursday. The firm has a market capitalization of $1.91 billion, a P/E ratio of 9.69 and a beta of 0.67. The business has a fifty day simple moving average of $16.85 and a 200 day simple moving average of $16.31. Redwood Trust has a 12 month low of $14.29 and a 12 month high of $17.25. The company has a current ratio of 4.41, a quick ratio of 4.41 and a debt-to-equity ratio of 6.07.

Redwood Trust (NYSE:RWT) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $32.00 million during the quarter, compared to the consensus estimate of $42.20 million. Redwood Trust had a return on equity of 10.71% and a net margin of 21.26%. The business’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS. As a group, sell-side analysts predict that Redwood Trust will post 1.51 EPS for the current fiscal year.

A number of brokerages have issued reports on RWT. Nomura upped their price objective on Redwood Trust from $17.50 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Zacks Investment Research upgraded Redwood Trust from a “hold” rating to a “strong-buy” rating and set a $20.00 price objective for the company in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $18.30.

Redwood Trust Company Profile

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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Dividend History for Redwood Trust (NYSE:RWT)

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