Redwood Trust, Inc. $RWT Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its stake in Redwood Trust, Inc. (NYSE:RWT) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,280,441 shares of the real estate investment trust’s stock after selling 327,167 shares during the quarter. Vanguard Group Inc. owned about 11.05% of Redwood Trust worth $82,684,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CWM LLC grew its stake in shares of Redwood Trust by 270.5% in the second quarter. CWM LLC now owns 6,168 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 4,503 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Redwood Trust by 331.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 7,915 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 6,082 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Redwood Trust by 136.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,823 shares of the real estate investment trust’s stock worth $64,000 after acquiring an additional 6,255 shares during the period. Benjamin Edwards Inc. acquired a new stake in Redwood Trust in the third quarter valued at approximately $72,000. Finally, Lighthouse Investment Partners LLC purchased a new stake in shares of Redwood Trust during the second quarter valued at approximately $74,000. Institutional investors and hedge funds own 74.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on RWT shares. JPMorgan Chase & Co. upgraded shares of Redwood Trust from a “neutral” rating to an “overweight” rating and set a $6.00 target price for the company in a research note on Friday, January 23rd. JonesTrading reiterated a “buy” rating and issued a $6.25 price objective on shares of Redwood Trust in a report on Tuesday. Zacks Research raised shares of Redwood Trust from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. Wall Street Zen upgraded Redwood Trust from a “sell” rating to a “hold” rating in a research note on Sunday, February 15th. Finally, Keefe, Bruyette & Woods lifted their target price on Redwood Trust from $5.75 to $7.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $6.96.

Redwood Trust Price Performance

Shares of RWT stock opened at $6.06 on Friday. The firm has a fifty day moving average of $5.83 and a two-hundred day moving average of $5.73. The firm has a market cap of $757.44 million, a P/E ratio of -9.93 and a beta of 1.55. Redwood Trust, Inc. has a 1-year low of $4.68 and a 1-year high of $6.97. The company has a debt-to-equity ratio of 24.34, a current ratio of 55.15 and a quick ratio of 57.77.

Redwood Trust (NYSE:RWT) last issued its earnings results on Wednesday, February 11th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.02). The company had revenue of $86.86 million during the quarter, compared to analyst estimates of $24.88 million. Redwood Trust had a negative net margin of 5.93% and a positive return on equity of 12.00%. As a group, research analysts anticipate that Redwood Trust, Inc. will post 0.78 earnings per share for the current fiscal year.

Redwood Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 23rd were given a $0.18 dividend. The ex-dividend date was Tuesday, December 23rd. This represents a $0.72 annualized dividend and a dividend yield of 11.9%. Redwood Trust’s dividend payout ratio (DPR) is presently -118.03%.

Redwood Trust Company Profile

Redwood Trust, Inc (NYSE:RWT) is a publicly traded real estate investment trust specializing in the U.S. residential mortgage market. Headquartered in Mill Valley, California, the company focuses on investing in a diversified portfolio of residential mortgage assets, including whole loans, agency and non-agency mortgage-backed securities, and structured credit products.

The company’s core activities encompass the acquisition, financing, and management of prime residential mortgage whole loans and mortgage-backed securities.