Ceredex Value Advisors LLC Increases Stock Position in Redwood Trust, Inc. (NYSE:RWT)

Ceredex Value Advisors LLC lifted its stake in shares of Redwood Trust, Inc. (NYSE:RWT - Free Report) by 22.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,113,600 shares of the real estate investment trust's stock after acquiring an additional 207,088 shares during the period. Ceredex Value Advisors LLC owned 0.84% of Redwood Trust worth $8,608,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Redwood Trust by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 12,973,503 shares of the real estate investment trust's stock valued at $96,134,000 after purchasing an additional 78,222 shares during the period. State of Alaska Department of Revenue raised its stake in Redwood Trust by 9.8% during the 1st quarter. State of Alaska Department of Revenue now owns 80,107 shares of the real estate investment trust's stock worth $510,000 after buying an additional 7,123 shares during the period. Maryland State Retirement & Pension System boosted its holdings in Redwood Trust by 9.9% in the first quarter. Maryland State Retirement & Pension System now owns 47,385 shares of the real estate investment trust's stock worth $302,000 after acquiring an additional 4,268 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in 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 acquiring an additional 127,143 shares during the period. Finally, Mutual of America Capital Management LLC grew its stake in Redwood Trust by 9.1% in the first quarter. Mutual of America Capital Management LLC now owns 22,653 shares of the real estate investment trust's stock valued at $144,000 after acquiring an additional 1,889 shares during the period. Institutional investors and hedge funds own 74.34% of the company's stock.

Redwood Trust Stock Performance

Shares of Redwood Trust stock traded down $0.05 during mid-day trading on Friday, hitting $7.27. 1,477,152 shares of the stock were exchanged, compared to its average volume of 685,066. Redwood Trust, Inc. has a 12 month low of $5.45 and a 12 month high of $8.15. The company has a 50-day simple moving average of $7.59 and a 200 day simple moving average of $6.96. The company has a market capitalization of $961.24 million, a P/E ratio of 13.22 and a beta of 1.59. The company has a debt-to-equity ratio of 13.75, a quick ratio of 50.47 and a current ratio of 50.47.

Redwood Trust (NYSE:RWT - Get Free Report) last issued its quarterly earnings results 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 return on equity of 5.93% and a net margin of 12.59%. During the same quarter last year, the company earned $0.14 EPS. Sell-side 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 announced 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 represents a $0.68 dividend on an annualized basis and a dividend yield of 9.35%. This is a boost from Redwood Trust's previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Monday, September 23rd. Redwood Trust's payout ratio is presently 123.64%.

Wall Street Analysts Forecast Growth

RWT has been the topic of a number of recent research reports. Wells Fargo & Company increased their target price on 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 raised their price objective on shares of Redwood Trust from $8.50 to $9.00 and gave the company a "market outperform" rating in a research note on Friday, October 4th. Piper Sandler boosted their target price on shares of Redwood Trust from $6.50 to $7.50 and gave the stock a "neutral" rating in a research report on Monday, August 5th. StockNews.com lowered shares of Redwood Trust from a "hold" rating to a "sell" rating in a report on Friday. Finally, Wedbush lifted their price target on Redwood Trust from $6.50 to $7.00 and gave the company a "neutral" rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have given 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.com, the company has a consensus rating of "Moderate Buy" and an average target price of $8.19.

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.