State Street Corp Has $40.12 Million Position in Redwood Trust, Inc. (NYSE:RWT)

State Street Corp increased its position in shares of Redwood Trust, Inc. (NYSE:RWT - Free Report) by 2.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,189,667 shares of the real estate investment trust's stock after purchasing an additional 102,274 shares during the period. State Street Corp owned 3.92% of Redwood Trust worth $40,116,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RWT. Brown Brothers Harriman & Co. bought a new stake in shares of Redwood Trust in the 3rd quarter worth approximately $39,000. GAMMA Investing LLC boosted its stake in shares of Redwood Trust by 65.4% during the 3rd quarter. GAMMA Investing LLC now owns 5,169 shares of the real estate investment trust's stock worth $40,000 after acquiring an additional 2,043 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new position in shares of Redwood Trust in the 2nd quarter worth $69,000. Creative Planning acquired a new stake in shares of Redwood Trust during the third quarter worth $91,000. Finally, Verition Fund Management LLC purchased a new stake in shares of Redwood Trust during the third quarter valued at $101,000. 74.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on RWT. 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, December 9th. Wells Fargo & Company upped their price target on shares of Redwood Trust from $7.50 to $8.50 and gave the company an "equal weight" rating in a research 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 stock a "market outperform" rating in a research note on Friday, October 4th. Raymond James boosted their target price on shares of Redwood Trust from $8.50 to $9.50 and gave the company a "strong-buy" rating in a research note on Thursday, September 19th. Finally, StockNews.com raised Redwood Trust from a "sell" rating to a "hold" rating in a research report on Monday, November 11th. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Redwood Trust currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.03.

Redwood Trust Stock Up 2.0 %

Shares of NYSE RWT traded up $0.13 during mid-day trading on Friday, reaching $6.77. The company had a trading volume of 7,392,117 shares, compared to its average volume of 1,095,135. The company has a debt-to-equity ratio of 14.55, a quick ratio of 44.36 and a current ratio of 44.36. Redwood Trust, Inc. has a twelve month low of $5.45 and a twelve month high of $8.15. The stock's 50 day moving average is $7.21 and its 200-day moving average is $7.17. The stock has a market capitalization of $895.45 million, a PE ratio of 12.31 and a beta of 1.57.

Redwood Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 23rd will be given a $0.18 dividend. This is a positive change from Redwood Trust's previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 10.64%. The ex-dividend date of this dividend is Monday, December 23rd. Redwood Trust's dividend payout ratio is presently 130.91%.

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.