Redwood Trust, Inc. (NYSE:RWT) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its position in Redwood Trust, Inc. (NYSE:RWT - Free Report) by 9.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,003,627 shares of the real estate investment trust's stock after buying an additional 89,335 shares during the period. Bank of New York Mellon Corp owned about 0.76% of Redwood Trust worth $6,554,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Apollon Wealth Management LLC grew its holdings in Redwood Trust by 7.2% in the 3rd quarter. Apollon Wealth Management LLC now owns 77,972 shares of the real estate investment trust's stock valued at $603,000 after buying an additional 5,259 shares during the period. Intech Investment Management LLC grew its holdings in Redwood Trust by 182.1% in the third quarter. Intech Investment Management LLC now owns 48,929 shares of the real estate investment trust's stock valued at $378,000 after purchasing an additional 31,582 shares during the period. Brown Brothers Harriman & Co. acquired a new position in Redwood Trust during the third quarter worth approximately $39,000. BNP Paribas Financial Markets raised its stake in Redwood Trust by 7.2% during the third quarter. BNP Paribas Financial Markets now owns 28,909 shares of the real estate investment trust's stock worth $223,000 after purchasing an additional 1,932 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Redwood Trust by 18.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,725 shares of the real estate investment trust's stock valued at $230,000 after purchasing an additional 4,527 shares during the last quarter. Hedge funds and other institutional investors own 74.34% of the company's stock.

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Redwood Trust Stock Up 0.1 %

Redwood Trust stock traded up $0.01 during midday trading on Thursday, hitting $6.41. 289,339 shares of the stock were exchanged, compared to its average volume of 900,484. Redwood Trust, Inc. has a 1 year low of $5.46 and a 1 year high of $8.15. 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 firm has a market cap of $848.79 million, a P/E ratio of 19.45 and a beta of 1.63. The company has a 50 day moving average price of $6.44 and a two-hundred day moving average price of $6.97.

Redwood Trust (NYSE:RWT - Get Free Report) last announced 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 analysts' expectations of $26.00 million. On average, sell-side analysts predict that Redwood Trust, Inc. will post 0.78 earnings per share for the current fiscal year.

Redwood Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 24th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 11.24%. The ex-dividend date of this dividend is Monday, March 24th. Redwood Trust's payout ratio is currently 218.18%.

Analysts Set New Price Targets

Several brokerages recently weighed in on RWT. JMP Securities reaffirmed a "market outperform" rating and issued a $8.00 target price on shares of Redwood Trust in a research report on Friday, February 14th. StockNews.com raised Redwood Trust from a "sell" rating to a "hold" rating in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Redwood Trust from $7.00 to $6.50 and set a "neutral" rating for the company in a research report on Tuesday, January 21st. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $7.75.

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.