Jane Street Group LLC Has $1.08 Million Position in Redwood Trust, Inc. (NYSE:RWT)

Jane Street Group LLC trimmed its stake in shares of Redwood Trust, Inc. (NYSE:RWT) by 31.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,453 shares of the real estate investment trust’s stock after selling 63,205 shares during the quarter. Jane Street Group LLC owned approximately 0.11% of Redwood Trust worth $1,078,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RWT. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Redwood Trust by 28.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,198 shares of the real estate investment trust’s stock valued at $164,000 after purchasing an additional 5,514 shares in the last quarter. Concurrent Investment Advisors LLC bought a new stake in Redwood Trust during the 2nd quarter worth approximately $69,000. Van ECK Associates Corp increased its position in Redwood Trust by 21.7% in the 2nd quarter. Van ECK Associates Corp now owns 976,283 shares of the real estate investment trust’s stock valued at $6,336,000 after acquiring an additional 174,317 shares during the period. Rhumbline Advisers raised its stake in shares of Redwood Trust by 1.6% during the second quarter. Rhumbline Advisers now owns 390,185 shares of the real estate investment trust’s stock valued at $2,532,000 after acquiring an additional 6,242 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Redwood Trust by 7.8% during the second quarter. Victory Capital Management Inc. now owns 33,849 shares of the real estate investment trust’s stock worth $220,000 after purchasing an additional 2,450 shares during the period. Institutional investors own 74.34% of the company’s stock.

Redwood Trust Stock Performance

NYSE RWT opened at $6.44 on Tuesday. The company has a market cap of $851.80 million, a P/E ratio of 11.71 and a beta of 1.57. The company has a fifty day simple moving average of $7.09 and a 200 day simple moving average of $7.18. The company has a current ratio of 44.36, a quick ratio of 44.36 and a debt-to-equity ratio of 14.55. Redwood Trust, Inc. has a 12-month low of $5.45 and a 12-month high of $8.15.

Redwood Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 23rd were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from Redwood Trust’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 11.18%. Redwood Trust’s payout ratio is presently 130.91%.

Analyst Ratings Changes

Several research analysts have commented on RWT shares. Raymond James lifted 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, September 19th. StockNews.com upgraded Redwood Trust from a “sell” rating to a “hold” rating in a report on Monday, November 11th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $7.00 price target (down previously from $8.00) on shares of Redwood Trust in a research report on Monday, December 9th. JMP Securities increased their price objective on shares of Redwood Trust from $8.50 to $9.00 and gave the stock a “market outperform” rating in a research report on Friday, October 4th. Finally, Wells Fargo & Company lifted their target price on shares of Redwood Trust from $7.50 to $8.50 and gave the stock an “equal weight” rating in a research note on Friday, September 20th. Five equities research 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 stock. According to data from MarketBeat, the company 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.