Redwood Trust, Inc. (NYSE:RWT) Holdings Boosted by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in shares of Redwood Trust, Inc. (NYSE:RWT) by 0.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,038,438 shares of the real estate investment trust’s stock after purchasing an additional 25,444 shares during the quarter. Geode Capital Management LLC owned approximately 2.30% of Redwood Trust worth $23,492,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP lifted its stake in 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 valued at $112,945,000 after buying an additional 941,223 shares during the last quarter. NFC Investments LLC increased its holdings in shares of Redwood Trust by 127.7% in the 3rd quarter. NFC Investments LLC now owns 484,975 shares of the real estate investment trust’s stock worth $3,749,000 after acquiring an additional 271,975 shares during the period. Ceredex Value Advisors LLC boosted its stake in Redwood Trust by 22.8% during the 3rd quarter. Ceredex Value Advisors LLC now owns 1,113,600 shares of the real estate investment trust’s stock valued at $8,608,000 after purchasing an additional 207,088 shares during the period. Van ECK Associates Corp grew its position 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 during the last quarter. Finally, Systematic Financial Management LP acquired a new stake in shares of Redwood Trust in the third quarter valued at approximately $1,217,000. Institutional investors own 74.34% of the company’s stock.

Redwood Trust Stock Down 0.8 %

Shares of Redwood Trust stock opened at $6.57 on Friday. Redwood Trust, Inc. has a 12-month low of $5.45 and a 12-month high of $8.15. The stock has a market capitalization of $868.99 million, a P/E ratio of 11.95 and a beta of 1.57. The company has a quick ratio of 44.36, a current ratio of 44.36 and a debt-to-equity ratio of 14.55. The stock has a 50 day moving average price of $7.11 and a two-hundred day moving average price of $7.17.

Redwood Trust Increases Dividend

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on RWT shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $7.00 target price (down previously from $8.00) on shares of Redwood Trust in a research note on Monday, December 9th. 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 note on Friday, September 20th. JMP Securities increased their target price on shares of Redwood Trust from $8.50 to $9.00 and gave the company a “market outperform” rating in a research report on Friday, October 4th. StockNews.com raised shares of Redwood Trust from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Raymond James raised 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. Five research 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.