Farmers & Merchants Investments Inc. lowered its stake in shares of Redwood Trust, Inc. (NYSE:RWT) by 0.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 167,398 shares of the real estate investment trust’s stock after selling 1,105 shares during the period. Farmers & Merchants Investments Inc. owned about 0.22% of Redwood Trust worth $2,852,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Redwood Trust during the fourth quarter valued at about $11,939,000. First Trust Advisors LP raised its stake in shares of Redwood Trust by 1,457.8% in the first quarter. First Trust Advisors LP now owns 480,693 shares of the real estate investment trust’s stock valued at $7,984,000 after buying an additional 449,836 shares during the period. IronBridge Capital Management LP raised its stake in Redwood Trust by 105.7% in the first quarter. IronBridge Capital Management LP now owns 718,273 shares of the real estate investment trust’s stock worth $11,931,000 after buying an additional 369,068 shares during the last quarter. UBS Group AG raised its stake in Redwood Trust by 33.8% in the first quarter. UBS Group AG now owns 1,062,183 shares of the real estate investment trust’s stock worth $17,643,000 after buying an additional 268,238 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Redwood Trust by 3.8% in the first quarter. Vanguard Group Inc. now owns 6,165,829 shares of the real estate investment trust’s stock worth $102,414,000 after buying an additional 224,548 shares during the last quarter. 85.71% of the stock is currently owned by institutional investors.
Shares of Redwood Trust, Inc. (NYSE:RWT) traded up 0.42% during mid-day trading on Friday, reaching $16.75. 303,312 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $17.07 and a 200 day moving average of $16.76. Redwood Trust, Inc. has a one year low of $13.22 and a one year high of $17.45. The firm has a market capitalization of $1.29 billion, a P/E ratio of 9.79 and a beta of 0.89.
Redwood Trust (NYSE:RWT) last released 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 Zacks’ consensus estimate of $0.37 by $0.02. The firm had revenue of $60 million for the quarter, compared to the consensus estimate of $33.59 million. Redwood Trust had a net margin of 46.04% and a return on equity of 12.02%. During the same quarter in the prior year, the firm earned $0.48 earnings per share. On average, analysts forecast that Redwood Trust, Inc. will post $1.49 EPS for the current fiscal year.
The company 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 dividend of $0.28 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.69%. Redwood Trust’s dividend payout ratio is currently 64.00%.
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RWT has been the topic of a number of research reports. Zacks Investment Research lowered shares of Redwood Trust from a “buy” rating to a “hold” rating in a report on Wednesday, May 10th. BidaskClub raised shares of Redwood Trust from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Finally, ValuEngine upgraded shares of Redwood Trust from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 25th.
In other news, Director Karen R. Pallotta purchased 3,027 shares of the business’s stock in a transaction on Monday, May 22nd. The stock was acquired at an average cost of $16.53 per share, for a total transaction of $50,036.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.33% of the company’s stock.
About Redwood Trust
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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