Bank of New York Mellon Corp Has $6.55 Million Stake in Redwood Trust, Inc. (NYSE:RWT)

Bank of New York Mellon Corp lifted its stake in shares of Redwood Trust, Inc. (NYSE:RWT) by 9.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,003,627 shares of the real estate investment trust’s stock after purchasing an additional 89,335 shares during the quarter. Bank of New York Mellon Corp owned about 0.76% of Redwood Trust worth $6,554,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in RWT. Brown Brothers Harriman & Co. bought a new position in Redwood Trust in the 3rd quarter valued at about $39,000. Sovran Advisors LLC bought a new position in shares of Redwood Trust in the fourth quarter worth $63,000. KBC Group NV grew its position in Redwood Trust by 86.7% in the fourth quarter. KBC Group NV now owns 10,313 shares of the real estate investment trust’s stock worth $67,000 after acquiring an additional 4,788 shares in the last quarter. Verition Fund Management LLC purchased a new stake in Redwood Trust during the third quarter valued at about $101,000. Finally, CIBC Asset Management Inc purchased a new stake in Redwood Trust during the fourth quarter valued at about $86,000. Institutional investors own 74.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on RWT shares. JPMorgan Chase & Co. lowered their price objective on shares of Redwood Trust from $7.00 to $6.50 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. JMP Securities reaffirmed a “market outperform” rating and set a $8.00 target price on shares of Redwood Trust in a research note on Friday, February 14th. Finally, StockNews.com upgraded shares of Redwood Trust from a “sell” rating to a “hold” rating in a report on Wednesday, March 5th. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Redwood Trust currently has a consensus rating of “Moderate Buy” and an average target price of $7.75.

Redwood Trust Trading Up 3.5 %

Shares of Redwood Trust stock opened at $6.39 on Monday. The company’s fifty day simple moving average is $6.44 and its 200-day simple moving average is $6.99. The stock has a market capitalization of $846.14 million, a PE ratio of 19.35 and a beta of 1.63. Redwood Trust, Inc. has a 1-year low of $5.45 and a 1-year high of $8.15. The company has a debt-to-equity ratio of 14.09, a current ratio of 44.36 and a quick ratio of 44.36.

Redwood Trust (NYSE:RWT) last announced its quarterly earnings data on Thursday, February 13th. The real estate investment trust reported $0.13 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.03). The firm had revenue of $27.60 million for the quarter, compared to the consensus estimate of $26.00 million. Redwood Trust had a net margin of 9.35% and a return on equity of 6.91%. As a group, equities analysts anticipate that Redwood Trust, Inc. will post 0.78 earnings per share for the current year.

Redwood Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 24th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Monday, March 24th. This represents a $0.72 dividend on an annualized basis and a yield of 11.28%. Redwood Trust’s dividend payout ratio is currently 218.18%.

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.