Barclays PLC Sells 861,811 Shares of Redwood Trust, Inc. (NYSE:RWT)

Barclays PLC decreased its holdings in Redwood Trust, Inc. (NYSE:RWT) by 79.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 218,900 shares of the real estate investment trust’s stock after selling 861,811 shares during the quarter. Barclays PLC owned 0.17% of Redwood Trust worth $1,692,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Wellington Management Group LLP increased its stake in shares of Redwood Trust by 6.9% in the third quarter. Wellington Management Group LLP now owns 14,611,264 shares of the real estate investment trust’s stock worth $112,945,000 after purchasing an additional 941,223 shares in the last quarter. State Street Corp grew its position in shares of Redwood Trust by 2.0% during the third quarter. State Street Corp now owns 5,189,667 shares of the real estate investment trust’s stock worth $40,116,000 after purchasing an additional 102,274 shares in the last quarter. Clear Harbor Asset Management LLC bought a new stake in Redwood Trust during the 3rd quarter valued at approximately $722,000. Van ECK Associates Corp lifted its holdings in Redwood Trust by 21.7% in the 2nd quarter. Van ECK Associates Corp now owns 976,283 shares of the real estate investment trust’s stock worth $6,336,000 after purchasing an additional 174,317 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Redwood Trust by 37.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 291,563 shares of the real estate investment trust’s stock worth $2,254,000 after acquiring an additional 79,094 shares during the last quarter. 74.34% of the stock is owned by hedge funds and other institutional investors.

Redwood Trust Price Performance

NYSE RWT opened at $6.57 on Friday. The company has a market cap of $868.99 million, a PE ratio of 11.95 and a beta of 1.57. Redwood Trust, Inc. has a 52-week low of $5.45 and a 52-week high of $8.15. The company has a debt-to-equity ratio of 14.55, a quick ratio of 44.36 and a current ratio of 44.36. The firm’s 50 day moving average price is $7.11 and its 200-day moving average price is $7.17.

Redwood Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 23rd will be issued a $0.18 dividend. The ex-dividend date of this dividend is Monday, December 23rd. This is an increase from Redwood Trust’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.96%. Redwood Trust’s dividend payout ratio (DPR) is currently 130.91%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on RWT shares. JMP Securities boosted their target price on Redwood Trust from $8.50 to $9.00 and gave the stock a “market outperform” rating in a research report on Friday, October 4th. StockNews.com raised Redwood Trust from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. 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 report on Friday, September 20th. 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 research report on Thursday, September 19th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $7.00 price target (down previously from $8.00) on shares of Redwood Trust in a report on Monday, December 9th. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Redwood Trust currently has an average rating of “Moderate Buy” and a consensus target price of $8.03.

Redwood Trust Company 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.