State Street Corp lifted its position in shares of Redwood Trust, Inc. (NYSE:RWT) by 6.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,611,297 shares of the real estate investment trust’s stock after purchasing an additional 93,613 shares during the period. State Street Corp owned 2.09% of Redwood Trust worth $27,454,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in shares of Redwood Trust during the first quarter valued at approximately $107,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Redwood Trust during the 2nd quarter valued at $232,000. Eqis Capital Management Inc. grew its position in shares of Redwood Trust by 21.5% during the 2nd quarter. Eqis Capital Management Inc. now owns 14,576 shares of the real estate investment trust’s stock valued at $248,000 after acquiring an additional 2,580 shares during the period. Legal & General Group Plc lifted its stake in shares of Redwood Trust by 48.4% during the 2nd quarter. Legal & General Group Plc now owns 16,897 shares of the real estate investment trust’s stock valued at $288,000 after buying an additional 5,510 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of Redwood Trust by 87.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 17,381 shares of the real estate investment trust’s stock valued at $296,000 after buying an additional 8,101 shares in the last quarter. Institutional investors and hedge funds own 83.94% of the company’s stock.
A number of analysts have recently weighed in on the stock. ValuEngine downgraded shares of Redwood Trust from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. BidaskClub cut shares of Redwood Trust from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Zacks Investment Research lowered shares of Redwood Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Finally, Deutsche Bank AG dropped their price target on shares of Redwood Trust from $18.50 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, November 8th.
Redwood Trust, Inc. (NYSE:RWT) opened at $15.01 on Wednesday. Redwood Trust, Inc. has a 52 week low of $14.29 and a 52 week high of $17.45. The company has a market cap of $1,159.04, a PE ratio of 10.81 and a beta of 0.92. The company has a debt-to-equity ratio of 2.91, a quick ratio of 3.36 and a current ratio of 3.36.
Redwood Trust (NYSE:RWT) last announced its quarterly earnings data on Monday, November 6th. The real estate investment trust reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.04). Redwood Trust had a net margin of 41.62% and a return on equity of 9.87%. The business had revenue of $35.00 million during the quarter, compared to analyst estimates of $36.86 million. During the same quarter last year, the firm posted $0.58 EPS. The company’s revenue for the quarter was down 10.3% on a year-over-year basis. equities analysts predict that Redwood Trust, Inc. will post 1.39 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 7.46%. The ex-dividend date of this dividend is Thursday, December 14th. Redwood Trust’s dividend payout ratio (DPR) is presently 70.89%.
Redwood Trust Profile
Redwood Trust, Inc, through its subsidiaries, focuses on investing in mortgage and other real estate related assets. The Company is engaged in mortgage banking activities. The Company operates through three segments: Residential Investments, Residential Mortgage Banking and Commercial. The Residential Investments segment includes a portfolio of investments in residential mortgage-backed securities (RMBS) retained from its Sequoia securitizations.
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