California Public Employees Retirement System lowered its position in Redwood Trust, Inc. (NYSE:RWT) by 4.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 173,040 shares of the real estate investment trust’s stock after selling 7,546 shares during the period. California Public Employees Retirement System owned approximately 0.20% of Redwood Trust worth $2,608,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RWT. BlackRock Inc. grew its holdings in Redwood Trust by 107.4% during the 3rd quarter. BlackRock Inc. now owns 14,320,399 shares of the real estate investment trust’s stock valued at $232,562,000 after buying an additional 7,415,493 shares during the last quarter. Vanguard Group Inc lifted its stake in shares of Redwood Trust by 19.7% during the 3rd quarter. Vanguard Group Inc now owns 7,796,662 shares of the real estate investment trust’s stock worth $126,618,000 after purchasing an additional 1,284,601 shares during the period. Vanguard Group Inc. lifted its stake in shares of Redwood Trust by 19.7% during the 3rd quarter. Vanguard Group Inc. now owns 7,796,662 shares of the real estate investment trust’s stock worth $126,618,000 after purchasing an additional 1,284,601 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Redwood Trust during the 3rd quarter worth $15,023,000. Finally, Philadelphia Financial Management of San Francisco LLC purchased a new position in shares of Redwood Trust during the 3rd quarter worth $10,678,000. Institutional investors and hedge funds own 81.55% of the company’s stock.
Several research analysts recently weighed in on the company. Nomura assumed coverage on Redwood Trust in a research report on Wednesday, March 27th. They issued a “buy” rating and a $17.50 target price on the stock. Credit Suisse Group assumed coverage on Redwood Trust in a research report on Tuesday, February 5th. They issued an “outperform” rating and a $18.00 target price on the stock. JMP Securities raised Redwood Trust from a “market perform” rating to an “outperform” rating and set a $17.00 target price on the stock in a research report on Monday, March 4th. Finally, Zacks Investment Research lowered Redwood Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, February 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $17.71.
NYSE:RWT traded down $0.07 during mid-day trading on Monday, hitting $16.21. The company had a trading volume of 305,800 shares, compared to its average volume of 1,112,433. The company has a debt-to-equity ratio of 5.92, a current ratio of 3.88 and a quick ratio of 3.88. Redwood Trust, Inc. has a 1 year low of $14.29 and a 1 year high of $17.50. The firm has a market capitalization of $1.57 billion, a PE ratio of 9.11 and a beta of 0.65.
Redwood Trust (NYSE:RWT) last announced its earnings results on Thursday, February 14th. The real estate investment trust reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.02. The company had revenue of $35.00 million during the quarter, compared to the consensus estimate of $37.63 million. Redwood Trust had a return on equity of 13.10% and a net margin of 26.49%. The company’s revenue was up .0% on a year-over-year basis. During the same period last year, the firm earned $0.35 earnings per share. Equities analysts anticipate that Redwood Trust, Inc. will post 1.49 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.30 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.20 dividend on an annualized basis and a yield of 7.40%. Redwood Trust’s dividend payout ratio (DPR) is 67.42%.
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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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