Boston Partners raised its holdings in Redwood Trust, Inc. (NYSE:RWT - Free Report) by 8.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,707,027 shares of the real estate investment trust's stock after purchasing an additional 206,698 shares during the period. Boston Partners owned about 2.04% of Redwood Trust worth $17,561,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in RWT. Intech Investment Management LLC raised 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 acquiring an additional 31,582 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new stake in shares of Redwood Trust in the 3rd quarter valued at about $39,000. BNP Paribas Financial Markets lifted its position in shares of 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 last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Redwood Trust by 18.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,725 shares of the real estate investment trust's stock worth $230,000 after purchasing an additional 4,527 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Redwood Trust by 37.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 291,563 shares of the real estate investment trust's stock valued at $2,254,000 after buying an additional 79,094 shares in the last quarter. 74.34% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts have recently commented on RWT shares. JMP Securities reiterated 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 shares of Redwood Trust from a "sell" rating to a "hold" rating in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. lowered 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 note on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $7.75.
Get Our Latest Research Report on Redwood Trust
Redwood Trust Stock Performance
NYSE:RWT traded down $0.02 during midday trading on Tuesday, reaching $6.16. 854,261 shares of the company traded hands, compared to its average volume of 887,168. The firm has a market capitalization of $816.32 million, a price-to-earnings ratio of 18.67 and a beta of 1.63. The company has a fifty day moving average price of $6.44 and a 200 day moving average price of $6.94. The company has a debt-to-equity ratio of 14.09, a current ratio of 44.36 and a quick ratio of 44.36. Redwood Trust, Inc. has a twelve month low of $5.46 and a twelve month high of $8.15.
Redwood Trust (NYSE:RWT - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.03). Redwood Trust had a net margin of 9.35% and a return on equity of 6.91%. The firm had revenue of $27.60 million for the quarter, compared to analyst estimates of $26.00 million. On average, analysts expect that Redwood Trust, Inc. will post 0.78 EPS for the current fiscal year.
Redwood Trust Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 24th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 11.69%. The ex-dividend date of this dividend is Monday, March 24th. Redwood Trust's dividend payout ratio (DPR) is 218.18%.
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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