White Pine Investment CO decreased its holdings in shares of Redwood Trust, Inc. (NYSE:RWT) by 2.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 321,135 shares of the real estate investment trust’s stock after selling 6,500 shares during the period. Redwood Trust makes up 2.7% of White Pine Investment CO’s portfolio, making the stock its 12th biggest holding. White Pine Investment CO owned 0.39% of Redwood Trust worth $5,289,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. MetLife Investment Advisors LLC acquired a new position in shares of Redwood Trust in the fourth quarter worth about $497,000. Global X Management Co. LLC boosted its holdings in shares of Redwood Trust by 39.6% in the first quarter. Global X Management Co. LLC now owns 792,304 shares of the real estate investment trust’s stock worth $12,257,000 after buying an additional 224,755 shares during the period. SG Americas Securities LLC acquired a new position in shares of Redwood Trust in the first quarter worth about $148,000. LSV Asset Management boosted its holdings in shares of Redwood Trust by 6.9% in the first quarter. LSV Asset Management now owns 264,100 shares of the real estate investment trust’s stock worth $4,085,000 after buying an additional 17,000 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Redwood Trust by 7.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 618,397 shares of the real estate investment trust’s stock worth $9,567,000 after buying an additional 42,122 shares during the period. Institutional investors own 79.29% of the company’s stock.
Redwood Trust opened at $16.04 on Friday, according to Marketbeat.com. The company has a quick ratio of 3.37, a current ratio of 3.74 and a debt-to-equity ratio of 3.82. The company has a market capitalization of $1.33 billion, a PE ratio of 9.40 and a beta of 0.66. Redwood Trust, Inc. has a 52-week low of $14.29 and a 52-week high of $17.50.
Redwood Trust (NYSE:RWT) last posted its quarterly earnings results on Tuesday, August 7th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $55.00 million during the quarter. Redwood Trust had a net margin of 37.60% and a return on equity of 12.65%. During the same period last year, the company earned $0.35 earnings per share. sell-side analysts predict that Redwood Trust, Inc. will post 1.78 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.48%. The ex-dividend date is Thursday, September 13th. Redwood Trust’s dividend payout ratio (DPR) is 86.33%.
Several brokerages have commented on RWT. Zacks Investment Research cut shares of Redwood Trust from a “buy” rating to a “hold” rating in a report on Wednesday, July 11th. ValuEngine cut shares of Redwood Trust from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Compass Point set a $18.00 target price on shares of Redwood Trust and gave the stock a “hold” rating in a report on Wednesday. Finally, Deutsche Bank raised their target price on shares of Redwood Trust to $17.00 and gave the stock a “buy” rating in a report on Tuesday, May 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. Redwood Trust presently has an average rating of “Buy” and a consensus price target of $17.67.
Redwood Trust Company Profile
Redwood Trust, Inc, together with its subsidiaries, engages in mortgage banking activities 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, and issued by third parties and other credit risk-related investments; and invests in residential loans held for investment and mortgage servicing rights associated with residential loans.
Further Reading: Book Value Per Share – BVPS
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