Inspire Investing LLC Decreases Stake in Redwood Trust, Inc. (NYSE:RWT)

Inspire Investing LLC reduced its position in Redwood Trust, Inc. (NYSE:RWT) by 3.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 54,464 shares of the real estate investment trust’s stock after selling 2,053 shares during the period. Inspire Investing LLC’s holdings in Redwood Trust were worth $353,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its position in shares of Redwood Trust by 7.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,798,260 shares of the real estate investment trust’s stock valued at $13,325,000 after purchasing an additional 127,435 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Redwood Trust by 13.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,103,231 shares of the real estate investment trust’s stock valued at $7,182,000 after acquiring an additional 127,143 shares during the period. Wellington Management Group LLP lifted its position in shares of Redwood Trust by 164.4% during the fourth quarter. Wellington Management Group LLP now owns 11,314,715 shares of the real estate investment trust’s stock worth $83,842,000 after acquiring an additional 7,035,524 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Redwood Trust in the second quarter worth $242,000. Finally, Illinois Municipal Retirement Fund boosted its holdings in shares of Redwood Trust by 4.5% in the first quarter. Illinois Municipal Retirement Fund now owns 69,768 shares of the real estate investment trust’s stock worth $444,000 after acquiring an additional 2,993 shares during the period. 74.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RWT has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on Redwood Trust from $7.00 to $7.50 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Raymond James boosted their price objective on shares of Redwood Trust from $8.50 to $9.50 and gave the company a “strong-buy” rating in a research note on Thursday. JMP Securities upped their target price on shares of Redwood Trust from $8.00 to $8.50 and gave the stock a “market outperform” rating in a report on Friday, July 19th. Wells Fargo & Company raised their price target on shares of Redwood Trust from $7.50 to $8.50 and gave the company an “equal weight” rating in a report on Friday. Finally, Piper Sandler upped their price target on shares of Redwood Trust from $6.50 to $7.50 and gave the stock a “neutral” rating in a report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $8.08.

Redwood Trust Stock Performance

NYSE:RWT opened at $7.93 on Monday. Redwood Trust, Inc. has a 1-year low of $5.45 and a 1-year high of $8.15. The company has a debt-to-equity ratio of 12.97, a current ratio of 50.47 and a quick ratio of 50.47. The business has a 50 day moving average of $7.37 and a 200 day moving average of $6.65. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 113.29 and a beta of 1.58.

Redwood Trust (NYSE:RWT) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. Redwood Trust had a net margin of 4.45% and a return on equity of 4.93%. During the same period in the previous year, the business posted $0.14 earnings per share. On average, sell-side analysts predict that Redwood Trust, Inc. will post 0.5 earnings per share for the current fiscal year.

Redwood Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 23rd will be issued a $0.17 dividend. The ex-dividend date is Monday, September 23rd. This represents a $0.68 annualized dividend and a dividend yield of 8.58%. This is an increase from Redwood Trust’s previous quarterly dividend of $0.16. Redwood Trust’s payout ratio is currently 971.43%.

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.