Redwood Trust, Inc. (NYSE:RWT) Stock Position Raised by Evanson Asset Management LLC

Evanson Asset Management LLC increased its holdings in shares of Redwood Trust, Inc. (NYSE:RWT) by 16.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,000 shares of the real estate investment trust’s stock after acquiring an additional 2,000 shares during the quarter. Evanson Asset Management LLC’s holdings in Redwood Trust were worth $108,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of RWT. Wellington Management Group LLP raised its position in shares of Redwood Trust by 164.4% during the 4th quarter. Wellington Management Group LLP now owns 11,314,715 shares of the real estate investment trust’s stock worth $83,842,000 after purchasing an additional 7,035,524 shares during the period. Vanguard Group Inc. increased its position in Redwood Trust by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 12,973,503 shares of the real estate investment trust’s stock worth $96,134,000 after buying an additional 78,222 shares during the period. Quadrature Capital Ltd lifted its stake in Redwood Trust by 122.8% in the fourth quarter. Quadrature Capital Ltd now owns 40,374 shares of the real estate investment trust’s stock valued at $299,000 after buying an additional 22,254 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Redwood Trust by 9.8% during the first quarter. State of Alaska Department of Revenue now owns 80,107 shares of the real estate investment trust’s stock valued at $510,000 after acquiring an additional 7,123 shares during the period. Finally, Insight Folios Inc grew its position in shares of Redwood Trust by 4.6% during the first quarter. Insight Folios Inc now owns 89,028 shares of the real estate investment trust’s stock worth $567,000 after acquiring an additional 3,917 shares during the last quarter. Institutional investors own 74.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RWT. Wells Fargo & Company lifted their price objective on shares of Redwood Trust from $7.50 to $8.50 and gave the company an “equal weight” rating in a research report on Friday, September 20th. Piper Sandler lifted their price target on Redwood Trust from $6.50 to $7.50 and gave the company a “neutral” rating in a report on Monday, August 5th. JMP Securities increased their price objective on Redwood Trust from $8.50 to $9.00 and gave the stock a “market outperform” rating in a report on Friday, October 4th. Wedbush lifted their target price on Redwood Trust from $6.50 to $7.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, Raymond James increased their price target on Redwood Trust from $8.50 to $9.50 and gave the stock a “strong-buy” rating in a research note on Thursday, September 19th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $8.14.

Redwood Trust Price Performance

NYSE:RWT opened at $7.55 on Wednesday. The company has a quick ratio of 50.47, a current ratio of 50.47 and a debt-to-equity ratio of 12.97. The business’s 50-day moving average price is $7.44 and its 200 day moving average price is $6.77. Redwood Trust, Inc. has a 52-week low of $5.45 and a 52-week high of $8.15. The firm has a market cap of $997.76 million, a P/E ratio of 107.86 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, topping the consensus estimate 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 company posted $0.14 EPS. As a group, 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 declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were issued a $0.17 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $0.68 annualized dividend and a dividend yield of 9.01%. This is a boost from Redwood Trust’s previous quarterly dividend of $0.16. Redwood Trust’s dividend payout ratio is currently 971.43%.

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.