Angel Oak Capital Advisors LLC Takes $1.73 Million Position in Redwood Trust, Inc. (NYSE:RWT)

Angel Oak Capital Advisors LLC purchased a new position in Redwood Trust, Inc. (NYSE:RWT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 264,257 shares of the real estate investment trust’s stock, valued at approximately $1,726,000. Redwood Trust makes up 2.3% of Angel Oak Capital Advisors LLC’s investment portfolio, making the stock its 7th largest holding. Angel Oak Capital Advisors LLC owned approximately 0.20% of Redwood Trust at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Creative Planning acquired a new position in Redwood Trust during the third quarter worth $91,000. Clear Harbor Asset Management LLC acquired a new stake in shares of Redwood Trust during the 3rd quarter worth about $722,000. Golden State Equity Partners lifted its holdings in Redwood Trust by 19.3% during the 3rd quarter. Golden State Equity Partners now owns 70,562 shares of the real estate investment trust’s stock valued at $545,000 after purchasing an additional 11,396 shares during the last quarter. Ceredex Value Advisors LLC boosted its position in Redwood Trust by 22.8% in the third quarter. Ceredex Value Advisors LLC now owns 1,113,600 shares of the real estate investment trust’s stock valued at $8,608,000 after buying an additional 207,088 shares in the last quarter. Finally, Concurrent Investment Advisors LLC boosted its position in Redwood Trust by 269.9% in the third quarter. Concurrent Investment Advisors LLC now owns 39,273 shares of the real estate investment trust’s stock valued at $304,000 after buying an additional 28,655 shares in the last quarter. Institutional investors own 74.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RWT. JMP Securities reiterated a “market outperform” rating and issued a $8.00 target price on shares of Redwood Trust in a research note on Friday. JPMorgan Chase & Co. cut their price objective on Redwood Trust from $7.00 to $6.50 and set a “neutral” rating for the company in a research report on Tuesday, January 21st. Finally, StockNews.com cut Redwood Trust from a “hold” rating to a “sell” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $7.84.

Redwood Trust Trading Down 1.5 %

RWT stock opened at $6.37 on Tuesday. The company has a quick ratio of 44.36, a current ratio of 44.36 and a debt-to-equity ratio of 14.55. Redwood Trust, Inc. has a twelve month low of $5.45 and a twelve month high of $8.15. The company has a market cap of $843.49 million, a P/E ratio of 11.57 and a beta of 1.57. The business has a fifty day moving average of $6.55 and a 200-day moving average of $7.08.

Redwood Trust (NYSE:RWT) last announced its quarterly earnings data on Thursday, February 13th. The real estate investment trust reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.03). The firm had revenue of $27.60 million for the quarter, compared to the consensus estimate of $26.00 million. Redwood Trust had a return on equity of 6.01% and a net margin of 9.35%. As a group, equities research analysts expect that Redwood Trust, Inc. will post 0.55 EPS for the current year.

Redwood Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 23rd were paid a $0.18 dividend. The ex-dividend date was Monday, December 23rd. This is a boost from Redwood Trust’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 11.31%. Redwood Trust’s dividend payout ratio (DPR) is presently 130.91%.

About Redwood Trust

Redwood Trust, Inc, together with its subsidiaries, operates as a specialty finance company in the United States. The company operates through three segments: Residential Consumer Mortgage Banking, Residential Investor Mortgage Banking, and Investment Portfolio. The Residential Consumer Mortgage Banking segment operates a mortgage loan conduit that acquires residential loans from third-party originators for subsequent sale, securitization, or transfer to its investment portfolio.