MQS Management LLC Takes Position in Redwood Trust, Inc. (NYSE:RWT)

MQS Management LLC bought a new stake in Redwood Trust, Inc. (NYSE:RWT) during the 1st quarter, Holdings Channel reports. The fund bought 11,286 shares of the real estate investment trust’s stock, valued at approximately $72,000.

Several other hedge funds also recently modified their holdings of RWT. SG Americas Securities LLC boosted its stake in shares of Redwood Trust by 25.9% in the 4th quarter. SG Americas Securities LLC now owns 17,807 shares of the real estate investment trust’s stock valued at $132,000 after purchasing an additional 3,662 shares during the last quarter. Kingswood Wealth Advisors LLC acquired a new stake in shares of Redwood Trust in the 4th quarter valued at approximately $197,000. State of Alaska Department of Revenue raised its position in shares of Redwood Trust by 2.4% in the 4th quarter. State of Alaska Department of Revenue now owns 72,984 shares of the real estate investment trust’s stock valued at $540,000 after acquiring an additional 1,715 shares during the period. International Assets Investment Management LLC raised its position in shares of Redwood Trust by 641.0% in the 4th quarter. International Assets Investment Management LLC now owns 3,705 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 3,205 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Redwood Trust by 1,944.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 976,088 shares of the real estate investment trust’s stock valued at $7,233,000 after acquiring an additional 928,337 shares during the period. Institutional investors own 74.34% of the company’s stock.

Analyst Upgrades and Downgrades

RWT has been the topic of a number of analyst reports. Keefe, Bruyette & Woods cut their price target on shares of Redwood Trust from $7.75 to $7.25 and set an “outperform” rating on the stock in a research report on Wednesday, April 10th. JMP Securities lifted their price objective on shares of Redwood Trust from $8.00 to $8.50 and gave the company a “market outperform” rating in a report on Friday, July 19th. Wedbush reiterated a “neutral” rating and issued a $6.50 price objective on shares of Redwood Trust in a report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. raised their target price on shares of Redwood Trust from $7.00 to $7.50 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.69.

Insider Transactions at Redwood Trust

In other news, CFO Brooke Carillo bought 15,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was bought at an average price of $6.25 per share, with a total value of $93,750.00. Following the completion of the acquisition, the chief financial officer now owns 56,772 shares of the company’s stock, valued at $354,825. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.50% of the company’s stock.

Redwood Trust Stock Performance

Shares of RWT traded up $0.05 during midday trading on Thursday, reaching $7.30. 1,062,080 shares of the stock were exchanged, compared to its average volume of 1,240,968. Redwood Trust, Inc. has a twelve month low of $5.45 and a twelve month high of $8.30. The company has a quick ratio of 9.09, a current ratio of 9.09 and a debt-to-equity ratio of 10.66. The company has a market cap of $964.70 million, a P/E ratio of 104.29 and a beta of 1.58. The stock’s 50 day simple moving average is $6.62 and its 200 day simple moving average is $6.44.

Redwood Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 21st were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 8.77%. The ex-dividend date of this dividend was Friday, June 21st. Redwood Trust’s dividend payout ratio is currently 914.29%.

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.