State Street Corp lowered its stake in shares of Redwood Trust, Inc. (NYSE:RWT) by 1.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,517,684 shares of the real estate investment trust’s stock after selling 20,163 shares during the period. State Street Corp owned about 1.97% of Redwood Trust worth $25,208,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in RWT. SG Americas Securities LLC bought a new stake in shares of Redwood Trust during the first quarter valued at about $107,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Redwood Trust during the first quarter worth $109,000. TFS Capital LLC acquired a new stake in shares of Redwood Trust during the first quarter worth $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. 85.71% of the stock is owned by institutional investors.
Redwood Trust, Inc. (RWT) opened at 16.75 on Friday. The stock has a market capitalization of $1.29 billion, a PE ratio of 9.79 and a beta of 0.89. The firm has a 50-day moving average of $17.07 and a 200-day moving average of $16.76. Redwood Trust, Inc. has a 52-week low of $13.22 and a 52-week high of $17.45.
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 for the quarter, missing analysts’ consensus estimates of $0.37 by $0.02. The business 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 business posted $0.48 EPS. On average, equities analysts expect that Redwood Trust, Inc. will post $1.49 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.12 dividend on an annualized basis and a yield of 6.69%. Redwood Trust’s payout ratio is presently 64.00%.
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A number of brokerages recently weighed in on RWT. BidaskClub cut shares of Redwood Trust from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Zacks Investment Research cut shares of Redwood Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Finally, ValuEngine cut shares of Redwood Trust from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st.
In other news, Director Karen R. Pallotta bought 3,027 shares of the stock in a transaction that occurred on Monday, May 22nd. The shares were acquired at an average cost of $16.53 per share, for a total transaction of $50,036.31. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.33% of the company’s stock.
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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