MQS Management LLC bought a new stake in Redwood Trust, Inc. (NYSE:RWT – Free Report) 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.
See Also
- Five stocks we like better than Redwood Trust
- How Can Investors Benefit From After-Hours Trading
- Viking Therapeutics: Pharma Stock Soars on Positive Earnings
- Bank Stocks – Best Bank Stocks to Invest In
- Top 3 Small Cap Stocks Emerging as Rotation Winners
- 3 REITs to Buy and Hold for the Long Term
- Bargain Alert: 3 Stocks Worth Watching While The Market Cools
Want to see what other hedge funds are holding RWT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Redwood Trust, Inc. (NYSE:RWT – Free Report).
Receive News & Ratings for Redwood Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Redwood Trust and related companies with MarketBeat.com's FREE daily email newsletter.