GAMMA Investing LLC Buys 2,043 Shares of Redwood Trust, Inc. (NYSE:RWT)

GAMMA Investing LLC increased its position in Redwood Trust, Inc. (NYSE:RWT) by 65.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,169 shares of the real estate investment trust’s stock after acquiring an additional 2,043 shares during the quarter. GAMMA Investing LLC’s holdings in Redwood Trust were worth $40,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of RWT. Wellington Management Group LLP grew its position in shares of Redwood Trust by 164.4% during the 4th quarter. Wellington Management Group LLP now owns 11,314,715 shares of the real estate investment trust’s stock valued at $83,842,000 after purchasing an additional 7,035,524 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Redwood Trust by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 12,973,503 shares of the real estate investment trust’s stock worth $96,134,000 after buying an additional 78,222 shares during the last quarter. Quadrature Capital Ltd lifted its holdings in shares of Redwood Trust by 122.8% during the 4th quarter. Quadrature Capital Ltd now owns 40,374 shares of the real estate investment trust’s stock worth $299,000 after acquiring an additional 22,254 shares during the last quarter. State of Alaska Department of Revenue grew its position in Redwood Trust by 9.8% in the first quarter. State of Alaska Department of Revenue now owns 80,107 shares of the real estate investment trust’s stock worth $510,000 after acquiring an additional 7,123 shares in the last quarter. Finally, Insight Folios Inc grew its position in Redwood Trust by 4.6% in the first quarter. Insight Folios Inc now owns 89,028 shares of the real estate investment trust’s stock worth $567,000 after acquiring an additional 3,917 shares in the last quarter. Hedge funds and other institutional investors own 74.34% of the company’s stock.

Redwood Trust Trading Down 0.5 %

NYSE RWT opened at $7.66 on Friday. The stock has a market cap of $1.01 billion, a P/E ratio of 45.06 and a beta of 1.58. Redwood Trust, Inc. has a fifty-two week low of $5.45 and a fifty-two week high of $8.15. The stock has a 50 day simple moving average of $7.51 and a two-hundred day simple moving average of $6.83. The company has a debt-to-equity ratio of 12.97, a quick ratio of 50.47 and a current ratio of 50.47.

Redwood Trust (NYSE:RWT) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.13 EPS 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 period last year, the business earned $0.14 earnings per share. On average, analysts forecast that Redwood Trust, Inc. will post 0.5 earnings per share for the current year.

Redwood Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were paid a $0.17 dividend. This is an increase from Redwood Trust’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 8.88%. The ex-dividend date of this dividend was Monday, September 23rd. Redwood Trust’s dividend payout ratio is presently 400.00%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on RWT shares. Wells Fargo & Company lifted their price target on Redwood Trust from $7.50 to $8.50 and gave the stock an “equal weight” rating in a research note on Friday, September 20th. Piper Sandler upped their target price on Redwood Trust from $6.50 to $7.50 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Raymond James lifted their price target 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, September 19th. JMP Securities upped their price objective on shares of Redwood Trust from $8.50 to $9.00 and gave the company a “market outperform” rating in a research note on Friday, October 4th. Finally, Wedbush lifted their target price on shares of Redwood Trust from $6.50 to $7.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Three 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’s stock. According to data from MarketBeat.com, Redwood Trust presently has an average rating of “Moderate Buy” and a consensus price target of $8.19.

Redwood Trust 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.