State of New Jersey Common Pension Fund D Has $1.16 Million Stock Holdings in Redwood Trust, Inc. (NYSE:RWT)

State of New Jersey Common Pension Fund D decreased its stake in Redwood Trust, Inc. (NYSE:RWT) by 20.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,000 shares of the real estate investment trust’s stock after selling 17,500 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Redwood Trust were worth $1,157,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Rhumbline Advisers increased its stake in shares of Redwood Trust by 15.8% in the first quarter. Rhumbline Advisers now owns 280,130 shares of the real estate investment trust’s stock valued at $4,524,000 after buying an additional 38,175 shares during the period. Northern Trust Corp increased its stake in shares of Redwood Trust by 2.1% in the fourth quarter. Northern Trust Corp now owns 1,077,432 shares of the real estate investment trust’s stock valued at $16,237,000 after buying an additional 22,069 shares during the period. Texas Permanent School Fund increased its stake in shares of Redwood Trust by 20.8% in the first quarter. Texas Permanent School Fund now owns 65,597 shares of the real estate investment trust’s stock valued at $1,059,000 after buying an additional 11,306 shares during the period. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Redwood Trust in the fourth quarter valued at about $444,000. Finally, Kennedy Capital Management Inc. acquired a new stake in shares of Redwood Trust in the first quarter valued at about $4,441,000. 94.89% of the stock is owned by institutional investors.

Separately, Zacks Investment Research raised Redwood Trust from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Thursday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $18.00.

NYSE RWT traded up $0.01 during trading hours on Friday, hitting $16.73. 6,006 shares of the company’s stock were exchanged, compared to its average volume of 504,529. The firm has a 50-day moving average of $16.43. Redwood Trust, Inc. has a 1-year low of $14.29 and a 1-year high of $17.16. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 9.38 and a beta of 0.67. The company has a current ratio of 4.25, a quick ratio of 4.25 and a debt-to-equity ratio of 5.30.

Redwood Trust (NYSE:RWT) last released its earnings results on Thursday, August 1st. The real estate investment trust reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. Redwood Trust had a return on equity of 10.86% and a net margin of 24.71%. The business had revenue of $32.00 million during the quarter, compared to analysts’ expectations of $42.20 million. During the same quarter last year, the firm posted $0.41 earnings per share. The firm’s revenue was down 8.6% on a year-over-year basis. As a group, equities research analysts forecast that Redwood Trust, Inc. will post 1.49 EPS for the current year.

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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Institutional Ownership by Quarter for Redwood Trust (NYSE:RWT)

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