Teachers Retirement System of The State of Kentucky acquired a new position in Redwood Trust, Inc. (NYSE:RWT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 23,200 shares of the real estate investment trust’s stock, valued at approximately $377,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. IFP Advisors Inc raised its stake in shares of Redwood Trust by 560.6% in the third quarter. IFP Advisors Inc now owns 6,606 shares of the real estate investment trust’s stock worth $107,000 after buying an additional 5,606 shares during the period. Aperio Group LLC raised its stake in shares of Redwood Trust by 35.1% in the second quarter. Aperio Group LLC now owns 23,328 shares of the real estate investment trust’s stock worth $384,000 after buying an additional 6,062 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Redwood Trust by 44.9% in the third quarter. Nisa Investment Advisors LLC now owns 30,000 shares of the real estate investment trust’s stock worth $487,000 after buying an additional 9,300 shares during the period. Stevens Capital Management LP bought a new position in shares of Redwood Trust in the second quarter worth about $166,000. Finally, HL Financial Services LLC bought a new position in shares of Redwood Trust in the second quarter worth about $169,000. 92.78% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:RWT opened at $16.58 on Friday. The company has a debt-to-equity ratio of 4.54, a current ratio of 4.63 and a quick ratio of 4.63. Redwood Trust, Inc. has a 12-month low of $14.32 and a 12-month high of $17.50. The stock has a market cap of $1.37 billion, a P/E ratio of 9.42 and a beta of 0.67.
Redwood Trust (NYSE:RWT) last released its earnings results on Wednesday, November 7th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.02. Redwood Trust had a return on equity of 12.82% and a net margin of 35.10%. The firm had revenue of $35.00 million during the quarter, compared to analysts’ expectations of $37.57 million. During the same quarter last year, the business posted $0.35 earnings per share. The firm’s revenue was up .0% on a year-over-year basis. As a group, research analysts anticipate that Redwood Trust, Inc. will post 1.77 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 7.24%. The ex-dividend date is Thursday, December 13th. Redwood Trust’s dividend payout ratio is currently 86.33%.
In other Redwood Trust news, Director Horvath D. Debora bought 6,035 shares of the business’s stock in a transaction that occurred on Friday, November 16th. The stock was purchased at an average price of $16.57 per share, for a total transaction of $99,999.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.84% of the company’s stock.
Several research analysts have recently commented on RWT shares. ValuEngine raised Redwood Trust from a “sell” rating to a “hold” rating in a research note on Thursday, August 30th. Zacks Investment Research upgraded Redwood Trust from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research report on Friday, August 10th. Finally, Raymond James started coverage on Redwood Trust in a research report on Friday, October 12th. They set an “outperform” rating and a $18.50 target price for the company. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Redwood Trust presently has an average rating of “Hold” and a consensus target price of $17.88.
About Redwood Trust
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.
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