Angel Oak Capital Advisors LLC purchased a new position in shares of Redwood Trust, Inc. (NYSE:RWT - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 264,257 shares of the real estate investment trust's stock, valued at approximately $1,726,000. Redwood Trust comprises approximately 2.3% of Angel Oak Capital Advisors LLC's portfolio, making the stock its 7th largest position. Angel Oak Capital Advisors LLC owned about 0.20% of Redwood Trust at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brown Brothers Harriman & Co. acquired a new stake in shares of Redwood Trust in the third quarter valued at $39,000. Sovran Advisors LLC acquired a new stake in Redwood Trust in the 4th quarter valued at about $63,000. KBC Group NV lifted its position in shares of Redwood Trust by 86.7% during the fourth quarter. KBC Group NV now owns 10,313 shares of the real estate investment trust's stock worth $67,000 after purchasing an additional 4,788 shares in the last quarter. Creative Planning acquired a new position in shares of Redwood Trust during the third quarter worth approximately $91,000. Finally, Verition Fund Management LLC bought a new position in Redwood Trust in the 3rd quarter worth approximately $101,000. 74.34% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have commented on RWT shares. StockNews.com lowered Redwood Trust from a "hold" rating to a "sell" rating in a research report on Monday. JPMorgan Chase & Co. lowered 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, JMP Securities reiterated a "market outperform" rating and set a $8.00 price target on shares of Redwood Trust in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Redwood Trust has a consensus rating of "Hold" and an average target price of $7.84.
View Our Latest Analysis on RWT
Redwood Trust Trading Down 0.1 %
Shares of Redwood Trust stock traded down $0.01 during trading hours on Friday, hitting $6.43. The company's stock had a trading volume of 670,736 shares, compared to its average volume of 854,922. The company has a market capitalization of $851.44 million, a PE ratio of 19.47 and a beta of 1.57. The company has a debt-to-equity ratio of 14.09, a current ratio of 44.36 and a quick ratio of 44.36. The stock has a 50 day moving average of $6.52 and a 200 day moving average of $7.07. Redwood Trust, Inc. has a 12 month low of $5.45 and a 12 month high of $8.15.
Redwood Trust (NYSE:RWT - Get Free Report) last posted its earnings results on Thursday, February 13th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.03). Redwood Trust had a return on equity of 6.91% and a net margin of 9.35%. The business had revenue of $27.60 million for the quarter, compared to the consensus estimate of $26.00 million. Analysts predict that Redwood Trust, Inc. will post 0.78 earnings per share for the current year.
Redwood Trust Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 23rd were given a $0.18 dividend. This is a boost from Redwood Trust's previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 11.21%. The ex-dividend date of this dividend was Monday, December 23rd. Redwood Trust's payout ratio is currently 218.19%.
About Redwood Trust
(
Free Report)
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.
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