Redwood Trust, Inc. (NYSE:RWT) Shares Bought by Brighton Jones LLC

Brighton Jones LLC raised its stake in shares of Redwood Trust, Inc. (NYSE:RWT) by 59.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,124 shares of the real estate investment trust’s stock after purchasing an additional 27,764 shares during the quarter. Brighton Jones LLC owned about 0.06% of Redwood Trust worth $481,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Louisiana State Employees Retirement System raised its stake in Redwood Trust by 2.2% in 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 acquiring an additional 1,400 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted 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 purchasing an additional 1,847 shares during the period. Mutual of America Capital Management LLC boosted its position in Redwood Trust by 9.1% in the first 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% during the 4th quarter. Principal Financial Group Inc. now owns 617,725 shares of the real estate investment trust’s stock worth $4,577,000 after buying an additional 2,296 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Redwood Trust by 7.8% during the 2nd quarter. Victory Capital Management Inc. now owns 33,849 shares of the real estate investment trust’s stock worth $220,000 after buying an additional 2,450 shares during the last quarter. Hedge funds and other institutional investors own 74.34% of the company’s stock.

Redwood Trust Stock Performance

RWT opened at $7.93 on Friday. The firm’s fifty day simple moving average is $7.37 and its two-hundred day simple moving average is $6.65. Redwood Trust, Inc. has a 52-week low of $5.45 and a 52-week high of $8.15. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 113.29 and a beta of 1.58. The company has a quick ratio of 50.47, a current ratio of 50.47 and a debt-to-equity ratio of 12.97.

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

Redwood Trust Increases Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on RWT shares. Piper Sandler increased their price objective on shares of Redwood Trust from $6.50 to $7.50 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Wells Fargo & Company lifted their price objective on Redwood Trust from $7.50 to $8.50 and gave the company an “equal weight” rating in a research note on Friday. Raymond James raised their target price on Redwood Trust from $8.50 to $9.50 and gave the stock a “strong-buy” rating in a report on Thursday. Wedbush upped their price objective on Redwood Trust from $6.50 to $7.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, JMP Securities lifted their target price on shares of Redwood Trust from $8.00 to $8.50 and gave the company a “market outperform” rating in a report on Friday, July 19th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $8.08.

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.