Clear Harbor Asset Management LLC Invests $722,000 in Redwood Trust, Inc. (NYSE:RWT)

Clear Harbor Asset Management LLC purchased a new stake in shares of Redwood Trust, Inc. (NYSE:RWT - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 93,350 shares of the real estate investment trust's stock, valued at approximately $722,000. Clear Harbor Asset Management LLC owned 0.07% of Redwood Trust as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Redwood Trust by 13.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,103,231 shares of the real estate investment trust's stock valued at $7,182,000 after acquiring an additional 127,143 shares during the period. SG Americas Securities LLC bought a new position in shares of Redwood Trust during the 2nd quarter valued at approximately $242,000. Illinois Municipal Retirement Fund grew its stake in shares of Redwood Trust by 4.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 69,768 shares of the real estate investment trust's stock valued at $444,000 after acquiring an additional 2,993 shares during the period. Van ECK Associates Corp grew its stake in shares of Redwood Trust by 21.7% during the 2nd quarter. Van ECK Associates Corp now owns 976,283 shares of the real estate investment trust's stock valued at $6,336,000 after acquiring an additional 174,317 shares during the period. Finally, Wulff Hansen & CO. lifted its holdings in Redwood Trust by 549.0% in the 2nd quarter. Wulff Hansen & CO. now owns 128,463 shares of the real estate investment trust's stock worth $834,000 after purchasing an additional 108,669 shares in the last quarter. 74.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on RWT. Piper Sandler boosted their price target on Redwood Trust from $6.50 to $7.50 and gave the stock a "neutral" rating in a report on Monday, August 5th. Wedbush boosted their price target on Redwood Trust from $6.50 to $7.00 and gave the stock a "neutral" rating in a report on Friday, August 2nd. Wells Fargo & Company boosted their price target on Redwood Trust from $7.50 to $8.50 and gave the stock an "equal weight" rating in a report on Friday, September 20th. JPMorgan Chase & Co. boosted their price target on Redwood Trust from $7.50 to $8.00 and gave the stock an "overweight" rating in a report on Thursday, October 17th. Finally, Raymond James boosted their price target on Redwood Trust from $8.50 to $9.50 and gave the stock a "strong-buy" rating in a report on Thursday, September 19th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $8.19.

Redwood Trust Trading Up 0.3 %

Shares of NYSE RWT traded up $0.02 during trading hours on Monday, hitting $7.54. 587,116 shares of the company traded hands, compared to its average volume of 1,086,866. The stock has a market capitalization of $996.43 million, a price-to-earnings ratio of 107.57 and a beta of 1.58. The company has a current ratio of 50.47, a quick ratio of 50.47 and a debt-to-equity ratio of 12.97. The company's 50 day moving average price is $7.57 and its 200 day moving average price is $6.90. 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 released its earnings results on Thursday, August 1st. The real estate investment trust reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.01. Redwood Trust had a return on equity of 4.93% and a net margin of 4.45%. During the same quarter in the prior year, the company posted $0.14 EPS. On average, equities research analysts anticipate that Redwood Trust, Inc. will post 0.52 earnings per share for the current fiscal year.

Redwood Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 9.02%. The ex-dividend date of this dividend was Monday, September 23rd. This is an increase from Redwood Trust's previous quarterly dividend of $0.16. Redwood Trust's dividend payout ratio is 971.43%.

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.