Barclays PLC Lowers Stock Holdings in Redwood Trust, Inc. (NYSE:RWT)

Barclays PLC reduced its stake in shares of Redwood Trust, Inc. (NYSE:RWT) by 79.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 218,900 shares of the real estate investment trust’s stock after selling 861,811 shares during the period. Barclays PLC owned 0.17% of Redwood Trust worth $1,692,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. Wellington Management Group LLP raised its position in shares of Redwood Trust by 6.9% in the 3rd quarter. Wellington Management Group LLP now owns 14,611,264 shares of the real estate investment trust’s stock worth $112,945,000 after buying an additional 941,223 shares during the period. State Street Corp raised its holdings in shares of Redwood Trust by 2.0% in the 3rd 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 during the period. Geode Capital Management LLC lifted its stake in shares of Redwood Trust by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,038,438 shares of the real estate investment trust’s stock valued at $23,492,000 after purchasing an additional 25,444 shares in the last quarter. Clear Harbor Asset Management LLC purchased a new stake in shares of Redwood Trust during the 3rd quarter worth about $722,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Redwood Trust by 37.2% during the 3rd 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 purchasing an additional 79,094 shares during the period. Hedge funds and other institutional investors own 74.34% of the company’s stock.

Redwood Trust Trading Down 3.4 %

NYSE:RWT opened at $6.16 on Friday. The stock has a market cap of $814.76 million, a price-to-earnings ratio of 11.20 and a beta of 1.57. Redwood Trust, Inc. has a one year low of $5.45 and a one year 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 business’s 50-day simple moving average is $6.90 and its 200 day simple moving average is $7.17.

Redwood Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 23rd were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 11.69%. This is a positive change from Redwood Trust’s previous quarterly dividend of $0.17. The ex-dividend date was Monday, December 23rd. Redwood Trust’s dividend payout ratio is presently 130.91%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RWT. Raymond James lifted their price target on shares of Redwood Trust from $8.50 to $9.50 and gave the company a “strong-buy” rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. restated a “neutral” rating and set a $7.00 target price (down previously from $8.00) on shares of Redwood Trust in a report on Monday, December 9th. JMP Securities increased their price target on Redwood Trust from $8.50 to $9.00 and gave the company a “market outperform” rating in a report on Friday, October 4th. StockNews.com upgraded Redwood Trust from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company increased 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. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $8.03.

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.