Redwood Trust, Inc. (NYSE:RWT) Stock Position Lowered by AlphaCentric Advisors LLC

AlphaCentric Advisors LLC lowered its position in Redwood Trust, Inc. (NYSE:RWT - Free Report) by 63.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 288,343 shares of the real estate investment trust's stock after selling 500,000 shares during the period. Redwood Trust makes up about 1.7% of AlphaCentric Advisors LLC's investment portfolio, making the stock its 15th biggest position. AlphaCentric Advisors LLC owned approximately 0.22% of Redwood Trust worth $2,229,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC increased its position 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 buying an additional 2,043 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new stake in Redwood Trust in the 2nd quarter worth approximately $69,000. MQS Management LLC purchased a new stake in Redwood Trust in the 1st quarter worth approximately $72,000. Algert Global LLC purchased a new position in shares of Redwood Trust during the 2nd quarter worth $86,000. Finally, Ameritas Investment Partners Inc. boosted its holdings in shares of Redwood Trust by 26.5% during the first quarter. Ameritas Investment Partners Inc. now owns 14,324 shares of the real estate investment trust's stock worth $91,000 after purchasing an additional 3,000 shares during the last quarter. 74.34% of the stock is owned by institutional investors and hedge funds.

Redwood Trust Price Performance

Shares of NYSE:RWT traded down $0.01 during trading hours on Tuesday, hitting $7.22. 839,784 shares of the company's stock traded hands, compared to its average volume of 1,082,301. The company has a debt-to-equity ratio of 13.75, a quick ratio of 50.47 and a current ratio of 50.47. The company's fifty day simple moving average is $7.59 and its two-hundred day simple moving average is $6.97. Redwood Trust, Inc. has a 52 week low of $5.45 and a 52 week high of $8.15. The company has a market cap of $954.60 million, a price-to-earnings ratio of 13.16 and a beta of 1.59.

Redwood Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were given a $0.17 dividend. This is a positive change from Redwood Trust's previous quarterly dividend of $0.16. The ex-dividend date was Monday, September 23rd. This represents a $0.68 annualized dividend and a yield of 9.42%. Redwood Trust's payout ratio is 123.64%.

Analyst Upgrades and Downgrades

RWT has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Redwood Trust from $7.50 to $8.00 and gave the stock an "overweight" rating in a report on Thursday, October 17th. JMP Securities upped their price target on Redwood Trust from $8.50 to $9.00 and gave the stock a "market outperform" rating in a report on Friday, October 4th. Wedbush boosted their price target on Redwood Trust from $6.50 to $7.00 and gave the stock a "neutral" rating in a research note on Friday, August 2nd. Raymond James lifted their price objective on Redwood Trust from $8.50 to $9.50 and gave the stock a "strong-buy" rating in a report on Thursday, September 19th. Finally, Wells Fargo & Company increased their target price on Redwood Trust from $7.50 to $8.50 and gave the company an "equal weight" rating in a research note on Friday, September 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Redwood Trust 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.