Rhumbline Advisers Buys 6,242 Shares of Redwood Trust, Inc. (NYSE:RWT)

Rhumbline Advisers increased its holdings in Redwood Trust, Inc. (NYSE:RWT) by 1.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 390,185 shares of the real estate investment trust’s stock after purchasing an additional 6,242 shares during the period. Rhumbline Advisers owned approximately 0.30% of Redwood Trust worth $2,532,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC acquired a new position in shares of Redwood Trust in the 2nd quarter worth approximately $69,000. MQS Management LLC acquired a new position in Redwood Trust during the first quarter worth $72,000. Ameritas Investment Partners Inc. lifted its holdings in shares of Redwood Trust by 26.5% during the first quarter. Ameritas Investment Partners Inc. now owns 14,324 shares of the real estate investment trust’s stock valued at $91,000 after acquiring an additional 3,000 shares during the period. Quest Partners LLC acquired a new stake in shares of Redwood Trust in the 4th quarter valued at $107,000. Finally, Raymond James Trust N.A. grew its holdings in shares of Redwood Trust by 53.5% in the 2nd quarter. Raymond James Trust N.A. now owns 18,118 shares of the real estate investment trust’s stock worth $118,000 after purchasing an additional 6,318 shares during the last quarter. Institutional investors own 74.34% of the company’s stock.

Redwood Trust Stock Up 0.5 %

NYSE:RWT opened at $7.99 on Thursday. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 114.14 and a beta of 1.58. The company has a debt-to-equity ratio of 12.97, a quick ratio of 50.47 and a current ratio of 50.47. The stock’s fifty day moving average price is $7.33 and its two-hundred day moving average price is $6.62. Redwood Trust, Inc. has a 52-week low of $5.45 and a 52-week high of $8.15.

Redwood Trust (NYSE:RWT) last issued its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.01. Redwood Trust had a return on equity of 4.93% and a net margin of 4.45%. During the same quarter last year, the firm earned $0.14 EPS. On average, analysts anticipate that Redwood Trust, Inc. will post 0.5 EPS for the current year.

Redwood Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 23rd will be given a dividend of $0.17 per share. The ex-dividend date is Monday, September 23rd. This is an increase from Redwood Trust’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 8.51%. Redwood Trust’s dividend payout ratio is presently 971.43%.

Analysts Set New Price Targets

A number of equities analysts have commented on RWT shares. Wedbush boosted their price target on shares of Redwood Trust from $6.50 to $7.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Piper Sandler increased their price target on Redwood Trust from $6.50 to $7.50 and gave the stock a “neutral” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. raised their price target on Redwood Trust from $7.00 to $7.50 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Finally, JMP Securities boosted their price objective on Redwood Trust from $8.00 to $8.50 and gave the stock a “market outperform” rating in a research note on Friday, July 19th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Redwood Trust currently has an average rating of “Moderate Buy” and a consensus price target of $7.81.

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.