Charles Schwab Investment Management Inc. Has $12.43 Million Stock Holdings in Redwood Trust, Inc. (NYSE:RWT)

Charles Schwab Investment Management Inc. cut its position in shares of Redwood Trust, Inc. (NYSE:RWT - Free Report) by 9.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,608,143 shares of the real estate investment trust's stock after selling 174,932 shares during the period. Charles Schwab Investment Management Inc. owned about 1.22% of Redwood Trust worth $12,431,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of RWT. GAMMA Investing LLC lifted its stake in Redwood Trust by 65.4% during the third quarter. GAMMA Investing LLC now owns 5,169 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 2,043 shares during the period. Concurrent Investment Advisors LLC acquired a new position in shares of Redwood Trust in the 2nd quarter worth approximately $69,000. Creative Planning acquired a new position in shares of Redwood Trust in the 3rd quarter worth approximately $91,000. Algert Global LLC bought a new position in shares of Redwood Trust during the 2nd quarter worth approximately $86,000. Finally, Evanson Asset Management LLC boosted its stake in Redwood Trust by 16.7% in the 3rd quarter. Evanson Asset Management LLC now owns 14,000 shares of the real estate investment trust's stock valued at $108,000 after buying an additional 2,000 shares in the last quarter. 74.34% of the stock is currently owned by institutional investors.

Redwood Trust Price Performance

NYSE:RWT traded down $0.21 during mid-day trading on Monday, reaching $7.00. 1,176,581 shares of the company were exchanged, compared to its average volume of 1,060,604. The company has a quick ratio of 44.36, a current ratio of 44.36 and a debt-to-equity ratio of 14.55. The stock has a market cap of $925.23 million, a PE ratio of 13.09 and a beta of 1.57. Redwood Trust, Inc. has a 12 month low of $5.45 and a 12 month high of $8.15. The company has a fifty day moving average of $7.34 and a 200 day moving average of $7.13.

Redwood Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were paid a dividend of $0.17 per share. This is a boost from Redwood Trust's previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 9.72%. The ex-dividend date was Monday, September 23rd. Redwood Trust's dividend payout ratio is 123.64%.

Analysts Set New Price Targets

RWT has been the subject of several recent analyst reports. StockNews.com upgraded Redwood Trust from a "sell" rating to a "hold" rating in a research note on Monday, November 11th. Wells Fargo & Company upped their target price on shares of Redwood Trust from $7.50 to $8.50 and gave the stock an "equal weight" rating in a report on Friday, September 20th. JMP Securities lifted their price target on shares of Redwood Trust from $8.50 to $9.00 and gave the company a "market outperform" rating in a report on Friday, October 4th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $7.00 price target (down from $8.00) on shares of Redwood Trust in a research report on Monday. Finally, Raymond James raised their price objective on shares of Redwood Trust from $8.50 to $9.50 and gave the stock a "strong-buy" rating in a report on Thursday, September 19th. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $8.03.

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.