RWT - Redwood Trust, Inc.

NYSE - NYSE Delayed Price. Currency in USD
17.50
-0.05 (-0.28%)
At close: 4:02PM EST
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Previous Close17.55
Open17.56
Bid0.00 x 1300
Ask0.00 x 1400
Day's Range17.39 - 17.56
52 Week Range15.24 - 17.57
Volume962,959
Avg. Volume884,668
Market Cap1.972B
Beta (5Y Monthly)0.61
PE Ratio (TTM)14.84
EPS (TTM)1.18
Earnings DateFeb 23, 2020 - Feb 27, 2020
Forward Dividend & Yield1.20 (6.84%)
Ex-Dividend DateDec 12, 2019
1y Target Est18.10
  • Thomson Reuters StreetEvents

    Edited Transcript of RWT earnings conference call or presentation 30-Oct-19 9:00pm GMT

    Q3 2019 Redwood Trust Inc Earnings Call

  • These are Wall Street’s top dividend stock picks for 2020
    MarketWatch

    These are Wall Street’s top dividend stock picks for 2020

    DEEP DIVE U.S. stocks with attractive dividend yields have performed very well this year, for obvious reasons: Interest rates have declined at home and investors in Europe and Japan — where government and central-bank policies have pushed bond yields well into the negative — are desperate to find investments that will give them income.

  • Hedge Funds Have Never Been More Bullish On Redwood Trust, Inc. (RWT)
    Insider Monkey

    Hedge Funds Have Never Been More Bullish On Redwood Trust, Inc. (RWT)

    It seems that the masses and most of the financial media hate hedge funds and what they do, but why is this hatred of hedge funds so prominent? At the end of the day, these asset management firms do not gamble the hard-earned money of the people who are on the edge of poverty. Truth […]

  • Redwood Trust Closes First Single-Family Rental Securitization Since The Acquisition Of CoreVest; CoreVest's Tenth Securitization Since 2015
    PR Newswire

    Redwood Trust Closes First Single-Family Rental Securitization Since The Acquisition Of CoreVest; CoreVest's Tenth Securitization Since 2015

    MILL VALLEY, Calif. , Nov. 22, 2019 /PRNewswire/ --   Redwood Trust, Inc.  (NYSE: RWT) today announced it closed its first securitization backed by single-family rental (SFR) loans since its October 15 ...

  • 3 Buy-Rated Dividend Stocks Yielding More Than 7%
    TipRanks

    3 Buy-Rated Dividend Stocks Yielding More Than 7%

    These dividend stocks tick both boxes: a very high yield and a bullish outlook from the Street. This is pretty crucial as not all dividend stocks make appealing investing propositions. Looking for those with a bullish analysis from the Street is one way to sort the wheat from the chaff.We’ve used the TipRanks' Stock Screener tool to pick out three buy-rated stocks with dividends exceeding 7%. This puts their yield 3.5x higher than the S&P average of 2.1%, and makes them a sure source of income of return-minded investors. The stocks come from the real estate investment trust and energy sectors, two segments of the market that have – for different reasons – developed a reputation for high-yield dividend returns.“A commitment to a dividend can indicate a strong business and a management priority on returning cash to shareholders, both important drivers of long-term stock appreciation” writes JP Morgan. So with this bullish analysis in mind, let’s take a look at these 3 high-yield dividend stocks:Apple Hospitality REIT (APLE)We’ll start in the real estate sector. Real Estate Investment Trusts, or REITs, are companies formed to realize the gains inherent in the real estate business. The REIT owns, and usually oversees the operations of groups of real estate investments. REITs can focus on commercial properties, office spaces, residential properties, hotels, warehouses, retail spaces, or any combination of these. Some REITs focus solely on property equity, others focus on mortgages, and some invest in both to varying degrees. By law, REITs are required to return as much as 90% of their profits to shareholders.Apple Hospitality, as its name suggests, focuses on hotel and other properties in the hospitality industry. The company owns 235 hotels with over 30,000 guest rooms, and has a presence in 87 markets across 34 states. In its recent Q3 release, APLE reported a return to shareholders for the previous 12 months in excess of $370 million. $100 million of that was in share buybacks, and $270 million was paid in dividends.The company’s current dividend yield is 7.33%, with a quarterly payment of 30 cents per share, annualizing to $1.20. The payout ratio is 150%, a decidedly unhealthy number – the ratio indicates that the company is paying out 50% more in dividends than it is seeing in earnings. Normally, that would be an unsustainable situation, but REITs are a special case. As pointed out above, these companies are required to pay out a high percentage of their profits as dividends. APLE shares are up 15% year-to-date, however; while that is lower than the broader market’s 23% gain, it is sufficient to keep the payout ratio sustainable.B. Riley FBR analyst Bryan Maher points out the advantages of APLE in its sector: “[T]he REIT has struck a very good balance between delivering consistent earnings results, a conservative balance sheet, and a well-covered dividend, all while implementing a steady capital recycling (upgrade) program. And, while it might not be the most exciting REIT in the U.S., APLE shareholders can count on their $1.20/share annual dividend even if the economy were to experience a modest downdraft.” That steady, reliable return is key in REIT investing. Maher gives APLE an $18 price target, with a 9.9% upside. (To watch Maher's track record, click here)APLE is not widely covered by the Street’s analyst corps; among those who do cover the stock, however, the consensus is a Moderate Buy. APLE shows an average price target of $18.00, implying room for a 10% upside from the current trading value of $16.37. (See Apple Hospitality stock analysis on TipRanks)Redwood Trust (RWT)Our second company with a 7%+ dividend yield is another REIT. Redwood focuses on mortgage activities, investing its capital in residential mortgage funds and engaging in mortgage banking. The company’s main source of real estate income is from prime jumbo residential loans. The residential mortgage banking side of the operation acquires and sells packages of such residential loans.The model is usually profitable, and Redwood has beaten its earnings expectations twice in the past four quarters. The most recent quarter, however, reported at the end of October, showed a miss. EPS came in at 37 cents per share, below both the forecast of 38 cents and the year-ago quarter’s earnings of 39 cents. Revenues, at $34 million, were just about half the year-ago figure of $67 million, and 23.6% below the quarterly forecast.The earnings miss does not hurt the dividend, however. At 7.35%, and with an annual payout of $1.20, RWT’s dividend is almost exactly the same as APLE’s. The difference is in the payout ratio. RWT pays out 30 cents per quarter, and just reported earnings of 37 cents per share, leading to a payout ratio of 78%.5-star analyst Steven Delaney, of JMP Securities, reviewed RWT, just after the company’s earnings release. He set a $17.50 price target, and wrote of the stock, “Redwood Trust announced third quarter 2019 results that were marked by solid, albeit sequentially lower, core earnings and continued book value stability… We maintain our Market Outperform rating and our price target of $17.50, as we continue to believe the company should trade at a material premium to peers due to its unique market positioning and reputation.” His price target indicates room for a 7.7% upside. (To watch Delaney's track record, click here)Redwood Trust stock has a resounding “yes” on Wall Street. TipRanks analytics show that out of three analysts, all three are bullish. The price target of $17.83 shows a potential upside of about 10%. (See Redwood Trust stock analysis on TipRanks)Crestwood Equity Partners (CEQP)With our third high-yield dividend stock, we move into the oil industry. Crestwood is a midstream service provider with operations in 19 states. The company’s primary focus is in the Bakken Shale, the Delaware Permian Basin, and the Marcellus Shale. As a midstream operator, Crestwood doesn’t engage in drilling activities; the company’s operations are in three segments: Gathering & Processing, Storage & Transportation, and Marketing, Supply & Logistics.To support its high dividend, Crestwood can stand on a Q3 net income of $33.6 million. The adjusted EBITDA figure, $140.9 million, was a healthy 39% higher than the year-ago quarter. Year-to-date earnings were revised upwards, to the $520 to $535 million range. From an investor perspective, the best news was the dividend, declared at 60 cents per share to be paid out on November 14 to shareholders of record as of November 7.CEO Robert Phillips was upbeat in the company’s earnings call, saying, “So far, 2019 has been another stand-out year for Crestwood as we near the end of a successful three-year, approximately $1.0 billion, capital investment program in the Bakken, Powder River and Delaware Basins.” Rising income and a reliable dividend simply underscore the CEO’s optimism.SunTrust Robinson analyst Tristan Richardson agrees that the Phillips’ positive outlook is justified. In his recent report on CEQP, Richardson writes, “CEQP has not only executed on its large projects, setting the table for a strong exit to the year, but also was able to message a capital allocation strategy that resonates with what we see as the best path to outperformance in midstream. Operationally, core growth areas are performing in-line to better than guided as growth projects set the stage for volume acceleration.” He sets a $40 price target on this stock, indicating confidence in a 25% upside potential. (To watch Richardson's track record, click here)Richardson is in-line with the analyst consensus on this stock, a Strong Buy based on 3 buys and 1 hold set in recent months. The average price target of $41.50 implies an upside of 30% from the share price of $31.94. (See Crestwood’s price targets and analyst ratings on TipRanks).

  • Redwood Trust Declares $0.30 Per Share Dividend For The Fourth Quarter Of 2019
    PR Newswire

    Redwood Trust Declares $0.30 Per Share Dividend For The Fourth Quarter Of 2019

    MILL VALLEY, Calif. , Nov. 7, 2019 /PRNewswire/ -- Redwood Trust, Inc. (NYSE: RWT), a leading innovator in housing credit investing, today announced that its Board of Directors authorized the declaration ...

  • Redwood Trust (RWT) Misses Q3 Earnings and Revenue Estimates
    Zacks

    Redwood Trust (RWT) Misses Q3 Earnings and Revenue Estimates

    Redwood Trust (RWT) delivered earnings and revenue surprises of -2.63% and -23.60%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?

  • Redwood Trust Reports Third Quarter 2019 Financial Results
    PR Newswire

    Redwood Trust Reports Third Quarter 2019 Financial Results

    MILL VALLEY, Calif. , Oct. 30, 2019 /PRNewswire/ -- Redwood Trust, Inc. (NYSE:RWT), a leading innovator in housing credit investing, today reported its financial results for the quarter ended September 30, ...

  • Here’s What Hedge Funds Think About Redwood Trust, Inc. (RWT)
    Insider Monkey

    Here’s What Hedge Funds Think About Redwood Trust, Inc. (RWT)

    Is Redwood Trust, Inc. (NYSE:RWT) a good investment right now? We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy League graduates, expert networks, and get tips from investment bankers and industry insiders. Sure they sometimes fail miserably, but their consensus stock picks […]

  • Redwood Trust Announces Date Of Third Quarter 2019 Financial Results Conference Call And Webcast
    PR Newswire

    Redwood Trust Announces Date Of Third Quarter 2019 Financial Results Conference Call And Webcast

    Redwood Trust, Inc. (RWT) is a specialty finance company focused on making credit-sensitive investments in residential mortgages and related assets and engaging in mortgage banking activities. Redwood Trust was established in 1994, is internally managed, and structured as a real estate investment trust ("REIT") for tax purposes.

  • Moody's

    Redwood Residential Acquisition Corporation -- Moody's affirms Redwood Residential Acquisition Corporation as an Average aggregator of expanded credit residential mortgage loans

    Moody's Investors Service (Moody's) has affirmed Redwood Residential Acquisition Corporation's (Redwood) expanded credit residential mortgage aggregator assessment as Average. Redwood aggregated approximately 1,700 expanded credit residential mortgage loans, amounting to approximately $1.3 billion, during the 12 month review period ending 31 March 2019. The Loan Performance assessment as well as the underwriting component of the Ability assessment are Average mainly due to a lack of statistically significant data for the expanded credit products.

  • CoreVest Announces Acquisition by Redwood Trust
    PR Newswire

    CoreVest Announces Acquisition by Redwood Trust

    NEW YORK and IRVINE, Calif. , Oct. 16, 2019 /PRNewswire/ -- CoreVest American Finance, LLC ("CoreVest") announced that Redwood Trust, Inc. (NYSE: RWT) has purchased CoreVest American Finance ...

  • If You Had Bought Redwood Trust (NYSE:RWT) Stock Three Years Ago, You Could Pocket A 20% Gain Today
    Simply Wall St.

    If You Had Bought Redwood Trust (NYSE:RWT) Stock Three Years Ago, You Could Pocket A 20% Gain Today

    Investors can buy low cost index fund if they want to receive the average market return. But if you invest in...

  • Redwood Trust Announces Agreement To Acquire CoreVest, Expanding The Scale Of Its Business-Purpose Lending Platform
    PR Newswire

    Redwood Trust Announces Agreement To Acquire CoreVest, Expanding The Scale Of Its Business-Purpose Lending Platform

    MILL VALLEY, Calif., Oct. 14, 2019 /PRNewswire/ -- Redwood Trust, Inc. (RWT) today announced it has entered into a definitive agreement to acquire CoreVest American Finance Lender LLC, a leading nationwide originator and portfolio manager of business-purpose residential loans (BPLs), and several of its affiliates ("CoreVest"), from certain affiliates of Fortress Investment Group's credit funds business ("Fortress Sellers") and CoreVest Management Partners LLC ("Management Seller" and together with the Fortress Sellers, "Sellers"). The acquisition includes the CoreVest operating platform and over $900 million of related financial assets. Under the terms of the agreement, Redwood will acquire CoreVest's operating platform and assets – including its business-purpose loan portfolio and subordinate bonds from CoreVest-sponsored securitizations – from the Sellers.

  • Moody's

    Sequoia Mortgage Trust 2019-CH3 -- Moody's assigns definitive ratings to Prime RMBS issued by Sequoia Mortgage Trust 2019-CH3

    Moody's Investors Service ("Moody's") has assigned defintive ratings to the classes of residential mortgage-backed securities (RMBS) issued by Sequoia Mortgage Trust ("SEMT") 2019-CH3, except for the interest-only classes. The certificates are backed by one pool of prime quality, first-lien mortgage loans. SEMT 2019-CH3 is the ninth securitization that includes loans acquired by Redwood Residential Acquisition Corporation ("Redwood" or "Seller"), a subsidiary of Redwood Trust, Inc., under its expanded credit prime loan program called "Redwood Choice".

  • Redwood Trust Announces Pricing Of 5.75% Exchangeable Senior Notes Due 2025
    PR Newswire

    Redwood Trust Announces Pricing Of 5.75% Exchangeable Senior Notes Due 2025

    MILL VALLEY, Calif., Sept. 19, 2019 /PRNewswire/ -- Redwood Trust, Inc. ("Redwood") (RWT) today announced that its indirect wholly owned subsidiary, RWT Holdings, Inc. ("Holdings"), priced $175,000,000 aggregate principal amount of its 5.75% exchangeable senior notes due 2025 (the "Notes") in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). The initial purchasers have a 13-day option to purchase up to an additional $26,250,000 aggregate principal amount of the Notes in connection with the offering. The Notes will be senior unsecured obligations of Holdings and will be fully and unconditionally guaranteed by Redwood.

  • Redwood Trust Announces Offering Of Exchangeable Senior Notes Due 2025
    PR Newswire

    Redwood Trust Announces Offering Of Exchangeable Senior Notes Due 2025

    MILL VALLEY, Calif. , Sept. 19, 2019 /PRNewswire/ -- Redwood Trust, Inc. ("Redwood") (NYSE: RWT)   today announced that its indirect wholly owned subsidiary, RWT Holdings, Inc. ("Holdings"), ...

  • Redwood Trust Announces Pricing Of Upsized Public Offering Of Common Stock
    PR Newswire

    Redwood Trust Announces Pricing Of Upsized Public Offering Of Common Stock

    MILL VALLEY, Calif., Sept. 3, 2019 /PRNewswire/ -- Redwood Trust, Inc. ("Redwood") (RWT) today announced the upsizing and pricing of its previously announced underwritten public offering. Redwood will sell 12,500,000 shares of its common stock at a public offering price of $16.08 per share, resulting in gross proceeds of $201 million. In connection with the offering, Redwood has granted the underwriters a 30-day option to purchase up to an additional 1,875,000 shares of its common stock.

  • Redwood Trust Announces Proposed Public Offering Of Common Stock
    PR Newswire

    Redwood Trust Announces Proposed Public Offering Of Common Stock

    MILL VALLEY, Calif., Sept. 3, 2019 /PRNewswire/ -- Redwood Trust, Inc. ("Redwood") (RWT) today announced that it intends to offer 11,000,000 shares of its common stock in an underwritten public offering.  Redwood expects to grant the underwriters a 30-day option to purchase up to an additional 1,650,000 shares of its common stock in the offering. All of the shares of common stock will be offered and sold by Redwood.

  • Redwood Trust Provides Its Perspective For Potential Changes Related To The Expiration Of The Qualified Mortgage "QM" Patch
    PR Newswire

    Redwood Trust Provides Its Perspective For Potential Changes Related To The Expiration Of The Qualified Mortgage "QM" Patch

    MILL VALLEY, Calif. , Aug. 29, 2019 /PRNewswire/ --  Redwood Trust, Inc.  (NYSE: RWT), a leading innovator in housing credit investing, published its perspective for potential changes related to the expiration ...

  • How Redwood Trust, Inc. (NYSE:RWT) Could Add Value To Your Portfolio
    Simply Wall St.

    How Redwood Trust, Inc. (NYSE:RWT) Could Add Value To Your Portfolio

    Building up an investment case requires looking at a stock holistically. Today I've chosen to put the spotlight on...

  • Thomson Reuters StreetEvents

    Edited Transcript of RWT earnings conference call or presentation 1-Aug-19 9:00pm GMT

    Q2 2019 Redwood Trust Inc Earnings Call

  • Redwood Trust Declares $0.30 Per Share Dividend For The Third Quarter Of 2019
    PR Newswire

    Redwood Trust Declares $0.30 Per Share Dividend For The Third Quarter Of 2019

    MILL VALLEY, Calif. , Aug. 7, 2019 /PRNewswire/ -- Redwood Trust, Inc. (NYSE: RWT), a leading innovator in housing credit investing, today announced that its Board of Directors authorized the declaration ...

  • Redwood Trust (RWT) Q2 2019 Earnings Call Transcript
    Motley Fool

    Redwood Trust (RWT) Q2 2019 Earnings Call Transcript

    RWT earnings call for the period ending June 30, 2019.

  • Redwood Trust (RWT) Tops Q2 Earnings Estimates
    Zacks

    Redwood Trust (RWT) Tops Q2 Earnings Estimates

    Redwood Trust (RWT) delivered earnings and revenue surprises of 8.33% and -21.95%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?