Raymond James & Associates Has $7.70 Million Stock Position in Redwood Trust, Inc. (NYSE:RWT)

Raymond James & Associates decreased its position in shares of Redwood Trust, Inc. (NYSE:RWT - Free Report) by 12.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 995,528 shares of the real estate investment trust's stock after selling 139,026 shares during the period. Raymond James & Associates owned 0.75% of Redwood Trust worth $7,695,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Redwood Trust by 19.5% in the first quarter. Vanguard Group Inc. now owns 15,504,440 shares of the real estate investment trust's stock worth $98,763,000 after buying an additional 2,530,937 shares during the period. Ceredex Value Advisors LLC grew its position in Redwood Trust by 48.8% during the 2nd quarter. Ceredex Value Advisors LLC now owns 906,512 shares of the real estate investment trust's stock worth $5,883,000 after purchasing an additional 297,100 shares in the last quarter. Van ECK Associates Corp raised its stake in 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 purchasing an additional 174,317 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Redwood Trust by 13.0% in the first 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 purchasing an additional 127,143 shares in the last quarter. Finally, Wulff Hansen & CO. boosted its position in shares of Redwood Trust by 549.0% in the second quarter. Wulff Hansen & CO. now owns 128,463 shares of the real estate investment trust's stock worth $834,000 after buying an additional 108,669 shares during the period. 74.34% of the stock is currently owned by institutional investors and hedge funds.

Redwood Trust Stock Performance

RWT stock traded down $0.31 during midday trading on Thursday, hitting $7.33. The stock had a trading volume of 1,034,947 shares, compared to its average volume of 1,084,770. Redwood Trust, Inc. has a 52 week low of $5.45 and a 52 week high of $8.15. 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 stock has a 50-day simple moving average of $7.59 and a 200 day simple moving average of $6.93. The firm has a market capitalization of $968.02 million, a price-to-earnings ratio of 104.64 and a beta of 1.58.

Redwood Trust (NYSE:RWT - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.01. Redwood Trust had a net margin of 4.45% and a return on equity of 4.93%. During the same quarter in the prior year, the business posted $0.14 earnings per share. As a group, equities research analysts anticipate that Redwood Trust, Inc. will post 0.52 earnings per share for the current year.

Redwood Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 9.28%. This is an increase from Redwood Trust's previous quarterly dividend of $0.16. The ex-dividend date was Monday, September 23rd. Redwood Trust's payout ratio is presently 971.43%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on RWT shares. Raymond James increased their price target on shares of Redwood Trust from $8.50 to $9.50 and gave the stock a "strong-buy" rating in a research report on Thursday, September 19th. Wells Fargo & Company boosted their price target on shares of Redwood Trust from $7.50 to $8.50 and gave the company an "equal weight" rating in a report on Friday, September 20th. Piper Sandler increased their price objective on Redwood Trust from $6.50 to $7.50 and gave the stock a "neutral" rating in a report on Monday, August 5th. JMP Securities boosted their target price on Redwood Trust from $8.50 to $9.00 and gave the company a "market outperform" rating in a research note on Friday, October 4th. Finally, JPMorgan Chase & Co. lifted their price target on Redwood Trust from $7.50 to $8.00 and gave the company an "overweight" rating in a report on Thursday, October 17th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $8.19.

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.