US Bancorp DE lowered its position in shares of Redwood Trust, Inc. (NYSE:RWT) by 3.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,741 shares of the real estate investment trust’s stock after selling 2,370 shares during the period. US Bancorp DE owned approximately 0.09% of Redwood Trust worth $1,205,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in Redwood Trust during the first quarter worth about $107,000. Ameritas Investment Partners Inc. bought a new stake in shares of Redwood Trust during the first quarter worth approximately $109,000. TFS Capital LLC bought a new stake in shares of Redwood Trust during the first quarter worth approximately $185,000. Comerica Bank boosted its stake in shares of Redwood Trust by 0.8% in the first quarter. Comerica Bank now owns 11,286 shares of the real estate investment trust’s stock worth $196,000 after buying an additional 95 shares during the period. Finally, Eqis Capital Management Inc. boosted its stake in shares of Redwood Trust by 19.5% in the first quarter. Eqis Capital Management Inc. now owns 11,996 shares of the real estate investment trust’s stock worth $199,000 after buying an additional 1,959 shares during the period. Institutional investors own 85.71% of the company’s stock.
Shares of Redwood Trust, Inc. (NYSE RWT) opened at 16.75 on Friday. The company’s 50-day moving average price is $17.07 and its 200-day moving average price is $16.76. Redwood Trust, Inc. has a 1-year low of $13.22 and a 1-year high of $17.45. The company has a market capitalization of $1.29 billion, a PE ratio of 9.79 and a beta of 0.89.
Redwood Trust (NYSE:RWT) last issued its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by $0.02. Redwood Trust had a net margin of 46.04% and a return on equity of 12.02%. The business had revenue of $60 million during the quarter, compared to analyst estimates of $33.59 million. During the same period last year, the firm posted $0.48 earnings per share. On average, equities analysts expect that Redwood Trust, Inc. will post $1.49 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 6.69%. The ex-dividend date is Thursday, September 14th. Redwood Trust’s dividend payout ratio (DPR) is presently 64.00%.
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A number of analysts have recently commented on the company. ValuEngine cut Redwood Trust from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Zacks Investment Research cut Redwood Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Finally, BidaskClub raised Redwood Trust from a “hold” rating to a “buy” rating in a research note on Friday, August 4th.
In other news, Director Karen R. Pallotta acquired 3,027 shares of the firm’s stock in a transaction dated Monday, May 22nd. The stock was purchased at an average price of $16.53 per share, for a total transaction of $50,036.31. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.33% of the stock is currently owned by insiders.
Redwood Trust Company Profile
Redwood Trust, Inc, through its subsidiaries, focuses on investing in mortgage and other real estate related assets. The Company is engaged in mortgage banking activities. The Company operates through three segments: Residential Investments, Residential Mortgage Banking and Commercial. The Residential Investments segment includes a portfolio of investments in residential mortgage-backed securities (RMBS) retained from its Sequoia securitizations.
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