State Street Corp Buys 102,274 Shares of Redwood Trust, Inc. (NYSE:RWT)

State Street Corp grew its position in Redwood Trust, Inc. (NYSE:RWT - Free Report) by 2.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,189,667 shares of the real estate investment trust's stock after acquiring an additional 102,274 shares during the quarter. State Street Corp owned 3.92% of Redwood Trust worth $40,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of RWT. Brown Brothers Harriman & Co. acquired a new position in Redwood Trust during the 3rd quarter valued at approximately $39,000. GAMMA Investing LLC lifted its holdings 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 valued at $40,000 after purchasing an additional 2,043 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new position in Redwood Trust in the 2nd quarter worth approximately $69,000. Creative Planning purchased a new stake in Redwood Trust in the 3rd quarter valued at $91,000. Finally, Verition Fund Management LLC acquired a new stake in Redwood Trust during the third quarter worth about $101,000. Institutional investors own 74.34% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RWT. StockNews.com upgraded shares of Redwood Trust from a "sell" rating to a "hold" rating in a report on Monday, November 11th. JPMorgan Chase & Co. reissued 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, December 9th. Wells Fargo & Company upped their price target on Redwood Trust from $7.50 to $8.50 and gave the stock an "equal weight" rating in a research note on Friday, September 20th. JMP Securities lifted their price target 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, Raymond James upped their price target on Redwood Trust from $8.50 to $9.50 and gave the stock a "strong-buy" rating in a report on Thursday, September 19th. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $8.03.

Redwood Trust Price Performance

NYSE:RWT traded up $0.13 during trading hours on Friday, reaching $6.77. 7,392,117 shares of the company's stock were exchanged, compared to its average volume of 1,095,135. The company has a quick ratio of 44.36, a current ratio of 44.36 and a debt-to-equity ratio of 14.55. Redwood Trust, Inc. has a 12 month low of $5.45 and a 12 month high of $8.15. The company has a market capitalization of $895.45 million, a P/E ratio of 12.31 and a beta of 1.57. The business's 50-day simple moving average is $7.21 and its two-hundred day simple moving average is $7.16.

Redwood Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 23rd will be given a dividend of $0.18 per share. The ex-dividend date is Monday, December 23rd. This is an increase from Redwood Trust's previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 10.64%. Redwood Trust's payout ratio is presently 130.91%.

Redwood Trust 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.