Van ECK Associates Corp Has $7.09 Million Stake in Redwood Trust, Inc. (NYSE:RWT)

Van ECK Associates Corp increased its stake in shares of Redwood Trust, Inc. (NYSE:RWT - Free Report) by 18.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,085,593 shares of the real estate investment trust's stock after purchasing an additional 165,281 shares during the quarter. Van ECK Associates Corp owned approximately 0.82% of Redwood Trust worth $7,089,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its stake in shares of Redwood Trust by 6.9% during the third quarter. Wellington Management Group LLP now owns 14,611,264 shares of the real estate investment trust's stock valued at $112,945,000 after purchasing an additional 941,223 shares in the last quarter. State Street Corp raised its holdings in Redwood Trust by 2.0% in the 3rd quarter. State Street Corp now owns 5,189,667 shares of the real estate investment trust's stock valued at $40,116,000 after buying an additional 102,274 shares during the last quarter. Geode Capital Management LLC boosted its position in Redwood Trust by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,038,438 shares of the real estate investment trust's stock worth $23,492,000 after buying an additional 25,444 shares during the period. Ceredex Value Advisors LLC grew its holdings in Redwood Trust by 22.8% during the 3rd quarter. Ceredex Value Advisors LLC now owns 1,113,600 shares of the real estate investment trust's stock worth $8,608,000 after acquiring an additional 207,088 shares during the last quarter. Finally, NFC Investments LLC increased its position in Redwood Trust by 127.7% in the 3rd quarter. NFC Investments LLC now owns 484,975 shares of the real estate investment trust's stock valued at $3,749,000 after acquiring an additional 271,975 shares during the period. 74.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RWT has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their price target on shares of Redwood Trust from $7.00 to $6.50 and set a "neutral" rating on the stock in a report on Tuesday, January 21st. StockNews.com downgraded Redwood Trust from a "hold" rating to a "sell" rating in a report on Monday. Finally, JMP Securities reiterated a "market outperform" rating and issued a $8.00 price target on shares of Redwood Trust in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $7.84.

Redwood Trust Trading Down 0.1 %

Redwood Trust stock traded down $0.01 during trading hours on Friday, reaching $6.43. 670,736 shares of the company's stock were exchanged, compared to its average volume of 854,922. The firm's 50 day simple moving average is $6.52 and its 200 day simple moving average is $7.07. Redwood Trust, Inc. has a twelve month low of $5.45 and a twelve month high of $8.15. The company has a quick ratio of 44.36, a current ratio of 44.36 and a debt-to-equity ratio of 14.09. The firm has a market capitalization of $851.44 million, a PE ratio of 19.47 and a beta of 1.57.

Redwood Trust (NYSE:RWT - Get Free Report) last announced its earnings results on Thursday, February 13th. The real estate investment trust reported $0.13 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.03). The business had revenue of $27.60 million for the quarter, compared to the consensus estimate of $26.00 million. Redwood Trust had a net margin of 9.35% and a return on equity of 6.91%. Research analysts predict that Redwood Trust, Inc. will post 0.78 earnings per share for the current year.

Redwood Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 23rd were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $0.72 annualized dividend and a dividend yield of 11.21%. This is a positive change from Redwood Trust's previous quarterly dividend of $0.17. Redwood Trust's payout ratio is currently 218.19%.

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.