Jennison Associates LLC Makes New Investment in Redwood Trust, Inc. (NYSE:RWT)

Jennison Associates LLC bought a new stake in Redwood Trust, Inc. (NYSE:RWT - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 77,793 shares of the real estate investment trust's stock, valued at approximately $508,000. Jennison Associates LLC owned about 0.06% of Redwood Trust as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RWT. Brown Brothers Harriman & Co. acquired a new position in shares of Redwood Trust in the third quarter valued at approximately $39,000. GAMMA Investing LLC boosted its position in Redwood Trust by 65.4% in the 3rd quarter. GAMMA Investing LLC now owns 5,169 shares of the real estate investment trust's stock valued at $40,000 after buying an additional 2,043 shares during the period. KBC Group NV grew its stake in shares of Redwood Trust by 86.7% in the fourth quarter. KBC Group NV now owns 10,313 shares of the real estate investment trust's stock worth $67,000 after acquiring an additional 4,788 shares in the last quarter. Creative Planning purchased a new stake in shares of Redwood Trust during the third quarter worth $91,000. Finally, Verition Fund Management LLC acquired a new stake in shares of Redwood Trust in the third quarter valued at $101,000. Hedge funds and other institutional investors own 74.34% of the company's stock.

Redwood Trust Stock Down 0.5 %

RWT stock traded down $0.04 during trading on Tuesday, hitting $6.61. 469,329 shares of the company's stock were exchanged, compared to its average volume of 796,697. The business has a 50-day moving average price of $6.61 and a two-hundred day moving average price of $7.11. The company has a current ratio of 44.36, a quick ratio of 44.36 and a debt-to-equity ratio of 14.55. The stock has a market capitalization of $875.29 million, a price-to-earnings ratio of 12.01 and a beta of 1.57. Redwood Trust, Inc. has a 52-week low of $5.45 and a 52-week high of $8.15.

Redwood Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 23rd were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 10.90%. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from Redwood Trust's previous quarterly dividend of $0.17. Redwood Trust's payout ratio is currently 130.91%.

Analysts Set New Price Targets

RWT has been the topic of several recent research reports. JPMorgan Chase & Co. cut their price target on Redwood Trust from $7.00 to $6.50 and set a "neutral" rating on the stock in a report on Tuesday, January 21st. StockNews.com upgraded shares of Redwood Trust from a "sell" rating to a "hold" rating in a research note on Monday, November 11th. Finally, JMP Securities reduced their target price on shares of Redwood Trust from $9.00 to $8.00 and set a "market outperform" rating on the stock in a report on Thursday, January 23rd. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $7.84.

Redwood Trust Company Profile

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.