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

Inspire Investing LLC lowered its stake in Redwood Trust, Inc. (NYSE:RWT) by 2.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 52,995 shares of the real estate investment trust’s stock after selling 1,469 shares during the quarter. Inspire Investing LLC’s holdings in Redwood Trust were worth $410,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. GAMMA Investing LLC boosted its holdings in Redwood Trust by 65.4% in the 3rd quarter. GAMMA Investing LLC now owns 5,169 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 2,043 shares during the period. Concurrent Investment Advisors LLC purchased a new position in shares of Redwood Trust in the second quarter valued at $69,000. MQS Management LLC acquired a new stake in Redwood Trust during the 1st quarter valued at $72,000. Algert Global LLC purchased a new stake in Redwood Trust during the 2nd quarter worth $86,000. Finally, Ameritas Investment Partners Inc. lifted its holdings in Redwood Trust by 26.5% in the 1st quarter. Ameritas Investment Partners Inc. now owns 14,324 shares of the real estate investment trust’s stock worth $91,000 after buying an additional 3,000 shares in the last quarter. 74.34% of the stock is currently owned by hedge funds and other institutional investors.

Redwood Trust Stock Up 0.3 %

Shares of NYSE:RWT opened at $7.69 on Friday. The company’s fifty day moving average is $7.52 and its two-hundred day moving average is $6.84. The company has a debt-to-equity ratio of 12.97, a quick ratio of 50.47 and a current ratio of 50.47. Redwood Trust, Inc. has a 1-year low of $5.45 and a 1-year high of $8.15. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 45.21 and a beta of 1.58.

Redwood Trust (NYSE:RWT) last released its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.13 earnings per share 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 quarter last year, the business earned $0.14 EPS. Equities analysts anticipate that Redwood Trust, Inc. will post 0.5 EPS for the current year.

Redwood Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were paid a dividend of $0.17 per share. 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 8.85%. The ex-dividend date of this dividend was Monday, September 23rd. Redwood Trust’s dividend payout ratio is presently 400.00%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RWT. Wells Fargo & Company raised their target price on Redwood Trust from $7.50 to $8.50 and gave the company an “equal weight” rating in a research note on Friday, September 20th. JPMorgan Chase & Co. upped their target price on Redwood Trust from $7.50 to $8.00 and gave the company an “overweight” rating in a research report on Thursday. Piper Sandler increased their target price on Redwood Trust from $6.50 to $7.50 and gave the company a “neutral” rating in a research note on Monday, August 5th. Wedbush lifted their price target on shares of Redwood Trust from $6.50 to $7.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, Raymond James increased 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, September 19th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $8.19.

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.