Choreo LLC Has $161,000 Holdings in Redwood Trust, Inc. (NYSE:RWT)

Choreo LLC increased its stake in shares of Redwood Trust, Inc. (NYSE:RWT) by 47.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,228 shares of the real estate investment trust’s stock after acquiring an additional 8,152 shares during the period. Choreo LLC’s holdings in Redwood Trust were worth $161,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Louisiana State Employees Retirement System increased its holdings in Redwood Trust by 2.2% during the 2nd quarter. Louisiana State Employees Retirement System now owns 66,500 shares of the real estate investment trust’s stock worth $432,000 after purchasing an additional 1,400 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its holdings in shares of Redwood Trust by 8.2% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 24,292 shares of the real estate investment trust’s stock worth $180,000 after buying an additional 1,847 shares in the last quarter. Mutual of America Capital Management LLC raised its position in Redwood Trust by 9.1% in the 1st quarter. Mutual of America Capital Management LLC now owns 22,653 shares of the real estate investment trust’s stock valued at $144,000 after buying an additional 1,889 shares during the last quarter. Principal Financial Group Inc. raised its position in Redwood Trust by 0.4% in the 4th quarter. Principal Financial Group Inc. now owns 617,725 shares of the real estate investment trust’s stock valued at $4,577,000 after buying an additional 2,296 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Redwood Trust by 7.8% in the 2nd quarter. Victory Capital Management Inc. now owns 33,849 shares of the real estate investment trust’s stock valued at $220,000 after acquiring an additional 2,450 shares in the last quarter. 74.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RWT has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on shares of Redwood Trust from $7.00 to $7.50 and gave the company an “overweight” rating in a report on Tuesday, July 16th. JMP Securities lifted their price target on shares of Redwood Trust from $8.00 to $8.50 and gave the company a “market outperform” rating in a research note on Friday, July 19th. Raymond James increased their price objective on shares of Redwood Trust from $8.50 to $9.50 and gave the stock a “strong-buy” rating in a research note on Thursday. Wedbush lifted their target price on Redwood Trust from $6.50 to $7.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Finally, Piper Sandler upped their target price on Redwood Trust from $6.50 to $7.50 and gave the stock a “neutral” rating in a report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $8.08.

Redwood Trust Price Performance

Shares of NYSE RWT opened at $7.93 on Friday. The company has a quick ratio of 50.47, a current ratio of 50.47 and a debt-to-equity ratio of 12.97. The business’s 50 day moving average price is $7.37 and its two-hundred day moving average price is $6.64. The company has a market cap of $1.05 billion, a PE ratio of 113.29 and a beta of 1.58. Redwood Trust, Inc. has a twelve month low of $5.45 and a twelve month high of $8.15.

Redwood Trust (NYSE:RWT) last posted its earnings results on Thursday, August 1st. The real estate investment trust reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. Redwood Trust had a return on equity of 4.93% and a net margin of 4.45%. During the same quarter last year, the firm posted $0.14 EPS. On average, analysts predict that Redwood Trust, Inc. will post 0.5 EPS for the current year.

Redwood Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 23rd will be given a $0.17 dividend. The ex-dividend date is Monday, September 23rd. This is a positive change from Redwood Trust’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 8.58%. Redwood Trust’s dividend payout ratio is presently 914.29%.

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.