Charles Schwab Investment Management Inc. Sells 174,932 Shares of Redwood Trust, Inc. (NYSE:RWT)

Charles Schwab Investment Management Inc. reduced its stake in Redwood Trust, Inc. (NYSE:RWT) by 9.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,608,143 shares of the real estate investment trust’s stock after selling 174,932 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.22% of Redwood Trust worth $12,431,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of RWT. Intech Investment Management LLC increased its position in Redwood Trust by 182.1% during the 3rd quarter. Intech Investment Management LLC now owns 48,929 shares of the real estate investment trust’s stock worth $378,000 after buying an additional 31,582 shares during the period. Apollon Wealth Management LLC grew its stake in shares of Redwood Trust by 7.2% in the third quarter. Apollon Wealth Management LLC now owns 77,972 shares of the real estate investment trust’s stock valued at $603,000 after acquiring an additional 5,259 shares in the last quarter. Concurrent Investment Advisors LLC increased its position in Redwood Trust by 269.9% during the third quarter. Concurrent Investment Advisors LLC now owns 39,273 shares of the real estate investment trust’s stock worth $304,000 after acquiring an additional 28,655 shares during the period. Ceredex Value Advisors LLC raised its stake in Redwood Trust by 22.8% in the 3rd quarter. Ceredex Value Advisors LLC now owns 1,113,600 shares of the real estate investment trust’s stock worth $8,608,000 after purchasing an additional 207,088 shares in the last quarter. Finally, Golden State Equity Partners boosted its holdings in Redwood Trust by 19.3% in the 3rd quarter. Golden State Equity Partners now owns 70,562 shares of the real estate investment trust’s stock valued at $545,000 after purchasing an additional 11,396 shares during the period. 74.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Raymond James raised their target price on shares of Redwood Trust from $8.50 to $9.50 and gave the stock a “strong-buy” rating in a report on Thursday, September 19th. JPMorgan Chase & Co. raised their price objective on Redwood Trust from $7.50 to $8.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Wells Fargo & Company upped their target price on Redwood Trust from $7.50 to $8.50 and gave the company an “equal weight” rating in a research report on Friday, September 20th. StockNews.com raised Redwood Trust from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Finally, JMP Securities boosted their price target on Redwood Trust from $8.50 to $9.00 and gave the company a “market outperform” rating in a research note on Friday, October 4th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $8.16.

Redwood Trust Stock Up 1.6 %

Shares of NYSE RWT opened at $7.20 on Monday. The company has a market cap of $952.32 million, a price-to-earnings ratio of 13.09 and a beta of 1.57. The company has a current ratio of 44.36, a quick ratio of 44.36 and a debt-to-equity ratio of 14.55. Redwood Trust, Inc. has a 12 month low of $5.45 and a 12 month high of $8.15. The stock has a 50-day moving average price of $7.34 and a two-hundred day moving average price of $7.13.

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 given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 9.44%. This is a boost from Redwood Trust’s previous quarterly dividend of $0.16. The ex-dividend date was Monday, September 23rd. Redwood Trust’s dividend payout ratio is currently 123.64%.

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.