Redwood Trust Inc. [NYSE: RWT] price plunged by -7.51 percent to reach at -$0.53. The company report on September 13, 2022 that Redwood Trust Announces Dividend of $0.23 Per Share for the Third Quarter of 2022.
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Redwood Trust, Inc. (NYSE: RWT; “Redwood” or the “Company”), a leader in expanding access to housing for homebuyers and renters, today announced that its Board of Directors authorized the declaration of a third quarter 2022 regular common stock dividend of $0.23 per share. This marks the Company’s 93rd consecutive quarterly dividend. The third quarter 2022 dividend is payable on September 30, 2022 to stockholders of record on September 23, 2022.
A sum of 4276389 shares traded at recent session while its average daily volume was at 1.41M shares. Redwood Trust Inc. shares reached a high of $6.83 and dropped to a low of $6.30 until finishing in the latest session at $6.53.
The one-year RWT stock forecast points to a potential upside of 39.26. The average equity rating for RWT stock is currently 2.00, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Redwood Trust Inc. [RWT]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RWT shares is $10.75 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RWT stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
BTIG Research have made an estimate for Redwood Trust Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 31, 2022. While these analysts kept the previous recommendation, JP Morgan raised their target price to Overweight. The new note on the price target was released on May 13, 2022, representing the official price target for Redwood Trust Inc. stock. Previously, the target price had yet another raise to $14, while Wells Fargo analysts kept a Equal Weight rating on RWT stock. On July 19, 2021, analysts increased their price target for RWT shares from 12 to 14.
The Average True Range (ATR) for Redwood Trust Inc. is set at 0.28, with the Price to Sales ratio for RWT stock in the period of the last 12 months amounting to 1.14. The Price to Book ratio for the last quarter was 0.62, with the Price to Cash per share for the same quarter was set at 3.21.
RWT Stock Performance Analysis:
Redwood Trust Inc. [RWT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.38. With this latest performance, RWT shares dropped by -19.78% in over the last four-week period, additionally sinking by -37.51% over the last 6 months – not to mention a drop of -48.46% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RWT stock in for the last two-week period is set at 28.80, with the RSI for the last a single of trading hit 25.52, and the three-weeks RSI is set at 31.77 for Redwood Trust Inc. [RWT]. The present Moving Average for the last 50 days of trading for this stock 7.91, while it was recorded at 7.03 for the last single week of trading, and 9.87 for the last 200 days.
Insight into Redwood Trust Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Redwood Trust Inc. [RWT] shares currently have an operating margin of +114.45 and a Gross Margin at +95.22. Redwood Trust Inc.’s Net Margin is presently recorded at +46.00.
Return on Equity for this stock inclined to 24.75, with Return on Assets sitting at 2.47.
RWT Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RWT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Redwood Trust Inc. go to 29.74%.
Redwood Trust Inc. [RWT] Insider Position Details
There are presently around $553 million, or 74.80% of RWT stock, in the hands of institutional investors. The top three institutional holders of RWT stocks are: BLACKROCK INC. with ownership of 20,869,574, which is approximately 2.224% of the company’s market cap and around 0.40% of the total institutional ownership; VANGUARD GROUP INC, holding 12,868,373 shares of the stock with an approximate value of $84.03 million in RWT stocks shares; and STATE STREET CORP, currently with $27.95 million in RWT stock with ownership of nearly 3.622% of the company’s market capitalization.
Positions in Redwood Trust Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 107 institutional holders increased their position in Redwood Trust Inc. [NYSE:RWT] by around 9,600,488 shares. Additionally, 110 investors decreased positions by around 9,427,642 shares, while 36 investors held positions by with 65,703,456 shares. The mentioned changes placed institutional holdings at 84,731,586 shares, according to the latest SEC report filing. RWT stock had 30 new institutional investments in for a total of 2,941,794 shares, while 40 institutional investors sold positions of 4,421,386 shares during the same period.