Redwood Trust, Inc. (NYSE:RWT) has a beta value of 1.12 and has seen 1,380,193 shares traded in the last trading session. The company, currently valued at $888.92 Million, closed the last trade at $7.68 per share which meant it gained $0.08 on the day or 1.05% during that session. The RWT stock price is -134.51% off its 52-week high price of $18.01 and 72.14% above the 52-week low of $2.14. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.6 Million shares traded. The 3-month trading volume is 2.17 Million shares.
The consensus among analysts is that Redwood Trust, Inc. (RWT) is an Overweight stock at the moment, with a recommendation rating of 2.4. None of the analysts rate the stock as a Sell, while none rate it as Overweight. 3 out of 5 have rated it as a Hold, with 2 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is $0.25.
Redwood Trust, Inc. (NYSE:RWT) trade information
Sporting 1.05% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, Sep 15 when the RWT stock price touched $7.86-2 or saw a rise of 2.29%. Year-to-date, Redwood Trust, Inc. shares have moved -53.57%, while the 5-day performance has seen it change 6.52%. Over the past 30 days, the shares of Redwood Trust, Inc. (NYSE:RWT) have changed 6.52%. Short interest in the company has seen 11.14 Million shares shorted with days to cover at 5.13.
Wall Street analysts have a consensus price target for the stock at $8.25, which means that the shares’ value could jump 7.42% from current levels. The projected low price target is $7 while the price target rests at a high of $10. In that case, then, we find that the current price level is +30.21% off the targeted high while a plunge would see the stock lose -8.85% from current levels.
Redwood Trust, Inc. (RWT) estimates and forecasts
Figures show that Redwood Trust, Inc. shares have underperformed across the wider relevant industry. The company’s shares have gained +6.08% over the past 6 months, with this year growth rate of -280.38%, compared to -19.1% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are -32.4% and -46.7% for the next quarter. Revenue growth from the last financial year stood is estimated to be +1.5%.
4 analysts offering their estimates for the company have set an average revenue estimate of $37.8 Million for the current quarter. 4 have an estimated revenue figure of $38.87 Million for the next quarter concluding in December 01, 2020. Year-ago sales stood $34Million and $45Million respectively for this quarter and the next, and analysts expect sales will grow by 11.2% for the current quarter and -13.6% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was +0.8% over the past 5 years. Earnings growth for 2020 is a modest +14.1% while over the next 5 years, the company’s earnings are expected to increase by 0.36%.
Redwood Trust, Inc. is expected to release its next earnings report between October 28 and November 02 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.56 at a share yield of 7.01%. The company’s dividend yield has gone up over the past 12 months, with a 5 Year Average Dividend Yield of 8.74%.
Redwood Trust, Inc. (NYSE:RWT)’s Major holders
Insiders own 1.45% of the company shares, while shares held by institutions stand at 92.23% with a share float percentage of 93.58%. Investors are also buoyed by the number of investors in a company, with Redwood Trust, Inc. having a total of 304 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 19.79 Million shares worth more than $138.55 Million. As of June 29, 2020, Blackrock Inc. held 17.22% of shares outstanding.
The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 11.57 Million shares as of June 29, 2020. The firm’s total holdings are worth over $81.02 Million and represent 10.07% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are iShares Core S&P Smallcap ETF and Vanguard Total Stock Market Index Fund. As of June 29, 2020, the former fund manager holds about 6.19% shares in the company for having 7119867 shares of worth $49.84 Million while later fund manager owns 3.23 Million shares of worth $22.62 Million as of June 29, 2020, which makes it owner of about 2.81% of company’s outstanding stock.