Wellington Management Group LLP Buys 941,223 Shares of Redwood Trust, Inc. (NYSE:RWT)

Wellington Management Group LLP raised its stake in shares of Redwood Trust, Inc. (NYSE:RWT - Free Report) by 6.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,611,264 shares of the real estate investment trust's stock after purchasing an additional 941,223 shares during the quarter. Wellington Management Group LLP owned 11.05% of Redwood Trust worth $112,945,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of RWT. Brown Brothers Harriman & Co. bought a new position in shares of Redwood Trust in the third quarter worth about $39,000. GAMMA Investing LLC raised its position in Redwood Trust by 65.4% in the 3rd quarter. GAMMA Investing LLC now owns 5,169 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 2,043 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new position in Redwood Trust during the 2nd quarter worth $69,000. Algert Global LLC bought a new position in Redwood Trust in the second quarter valued at about $86,000. Finally, Creative Planning acquired a new stake in Redwood Trust in the third quarter worth about $91,000. 74.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. JMP Securities upped their target price on shares of Redwood Trust from $8.50 to $9.00 and gave the company a "market outperform" rating in a research report on Friday, October 4th. StockNews.com raised Redwood Trust from a "sell" rating to a "hold" rating in a research note on Monday, November 11th. Wells Fargo & Company boosted their target price on Redwood Trust from $7.50 to $8.50 and gave the stock an "equal weight" rating in a research report on Friday, September 20th. Raymond James increased their price target on shares of Redwood Trust from $8.50 to $9.50 and gave the company a "strong-buy" rating in a research report on Thursday, September 19th. Finally, JPMorgan Chase & Co. restated a "neutral" rating and set a $7.00 price objective (down previously from $8.00) on shares of Redwood Trust in a report on Monday. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $8.03.

Redwood Trust Stock Down 0.3 %

Shares of RWT traded down $0.02 during midday trading on Tuesday, hitting $6.97. The stock had a trading volume of 750,135 shares, compared to its average volume of 1,059,300. The firm has a market cap of $921.92 million, a price-to-earnings ratio of 12.67 and a beta of 1.57. The company has a 50 day simple moving average of $7.32 and a two-hundred day simple moving average of $7.14. The company has a debt-to-equity ratio of 14.55, a current ratio of 44.36 and a quick ratio of 44.36. Redwood Trust, Inc. has a twelve month low of $5.45 and a twelve month high of $8.15.

Redwood Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 9.76%. 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 (DPR) is 123.64%.

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.