Charles Schwab Investment Management Inc. reduced its stake in Redwood Trust, Inc. (NYSE:RWT - Free Report) by 12.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,411,153 shares of the real estate investment trust's stock after selling 196,990 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.06% of Redwood Trust worth $9,215,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. Brown Brothers Harriman & Co. acquired a new stake in Redwood Trust during the 3rd quarter worth approximately $39,000. Sovran Advisors LLC acquired a new stake in shares of Redwood Trust during the fourth quarter worth $63,000. KBC Group NV boosted its position 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 valued at $67,000 after acquiring an additional 4,788 shares during the period. Verition Fund Management LLC acquired a new position in shares of Redwood Trust in the third quarter valued at about $101,000. Finally, CIBC Asset Management Inc bought a new position in Redwood Trust during the fourth quarter worth about $86,000. 74.34% of the stock is currently owned by institutional investors and hedge funds.
Redwood Trust Price Performance
Shares of RWT traded down $0.04 during trading hours on Wednesday, reaching $6.13. The stock had a trading volume of 725,716 shares, compared to its average volume of 886,591. The stock has a market capitalization of $811.69 million, a PE ratio of 18.56 and a beta of 1.63. Redwood Trust, Inc. has a 12 month low of $5.46 and a 12 month high of $8.15. The company has a debt-to-equity ratio of 14.09, a quick ratio of 44.36 and a current ratio of 44.36. The company's 50-day moving average is $6.44 and its two-hundred day moving average is $6.94.
Redwood Trust (NYSE:RWT - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The real estate investment trust reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.16 by ($0.03). The firm had revenue of $27.60 million during the quarter, compared to the consensus estimate of $26.00 million. Redwood Trust had a net margin of 9.35% and a return on equity of 6.91%. Research analysts expect that Redwood Trust, Inc. will post 0.78 EPS for the current year.
Redwood Trust Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 24th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 11.76%. The ex-dividend date is Monday, March 24th. Redwood Trust's dividend payout ratio (DPR) is currently 218.18%.
Analysts Set New Price Targets
A number of research analysts have issued reports on RWT shares. JMP Securities restated a "market outperform" rating and set 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 report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. reduced their target price on Redwood Trust from $7.00 to $6.50 and set a "neutral" rating on the stock in a report on Tuesday, January 21st. Five equities 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 company. Based on data from MarketBeat.com, Redwood Trust currently has a consensus rating of "Moderate Buy" and an average price target of $7.75.
Get Our Latest Analysis on RWT
About Redwood Trust
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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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