LSV Asset Management raised its position in shares of Redwood Trust, Inc. (NYSE:RWT - Free Report) by 17.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,115,204 shares of the real estate investment trust's stock after buying an additional 163,104 shares during the period. LSV Asset Management owned about 0.84% of Redwood Trust worth $7,282,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. BNP Paribas Financial Markets grew its holdings in Redwood Trust by 7.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 28,909 shares of the real estate investment trust's stock worth $223,000 after acquiring an additional 1,932 shares during the last quarter. Illinois Municipal Retirement Fund grew its stake in shares of Redwood Trust by 3.4% during the fourth quarter. Illinois Municipal Retirement Fund now owns 72,744 shares of the real estate investment trust's stock valued at $475,000 after purchasing an additional 2,383 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Redwood Trust by 4.6% during the third quarter. Franklin Resources Inc. now owns 72,486 shares of the real estate investment trust's stock valued at $548,000 after purchasing an additional 3,206 shares during the last quarter. KBC Group NV increased its holdings 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 purchasing an additional 4,788 shares in the last quarter. Finally, Legal & General Group Plc raised its position in Redwood Trust by 2.2% in the 4th quarter. Legal & General Group Plc now owns 361,935 shares of the real estate investment trust's stock worth $2,363,000 after purchasing an additional 7,925 shares during the last quarter. Institutional investors and hedge funds own 74.34% of the company's stock.
Redwood Trust Trading Up 4.2 %
Shares of Redwood Trust stock traded up $0.23 during trading on Friday, hitting $5.54. 1,035,238 shares of the company were exchanged, compared to its average volume of 952,034. The company has a debt-to-equity ratio of 14.09, a current ratio of 44.36 and a quick ratio of 44.36. The firm has a market capitalization of $736.06 million, a P/E ratio of 16.77 and a beta of 1.15. The firm's fifty day moving average price is $6.05 and its 200 day moving average price is $6.64. Redwood Trust, Inc. has a 1-year low of $4.68 and a 1-year high of $8.15.
Redwood Trust (NYSE:RWT - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.03). The firm had revenue of $27.60 million for the quarter, compared to analyst estimates of $26.00 million. Redwood Trust had a net margin of 9.35% and a return on equity of 6.91%. As a group, sell-side analysts expect that Redwood Trust, Inc. will post 0.78 earnings per share for the current fiscal year.
Redwood Trust Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 24th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 13.01%. The ex-dividend date was Monday, March 24th. Redwood Trust's payout ratio is presently 218.18%.
Wall Street Analyst Weigh In
A number of research analysts have commented on the company. StockNews.com upgraded Redwood Trust from a "sell" rating to a "hold" rating in a research report on Wednesday, March 5th. JMP Securities decreased their price target on Redwood Trust from $8.00 to $7.50 and set a "market outperform" rating on the stock in a report on Thursday. Jones Trading dropped their price objective on Redwood Trust from $8.00 to $7.00 and set a "buy" rating for the company in a report on Thursday. Finally, JPMorgan Chase & Co. cut their target price on shares of Redwood Trust from $6.50 to $5.50 and set a "neutral" rating on the stock in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Redwood Trust presently has an average rating of "Moderate Buy" and a consensus price target of $7.50.
Check Out Our Latest Stock Report on RWT
About Redwood Trust
(
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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