Van ECK Associates Corp boosted its stake in shares of Redwood Trust, Inc. (NYSE:RWT – Free Report) by 18.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,085,593 shares of the real estate investment trust’s stock after purchasing an additional 165,281 shares during the period. Van ECK Associates Corp owned approximately 0.82% of Redwood Trust worth $7,089,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Brown Brothers Harriman & Co. purchased a new stake in Redwood Trust in the 3rd quarter worth $39,000. Sovran Advisors LLC acquired a new stake in Redwood Trust during the fourth quarter worth about $63,000. KBC Group NV raised its position in shares of Redwood Trust by 86.7% during the 4th quarter. KBC Group NV now owns 10,313 shares of the real estate investment trust’s stock valued at $67,000 after buying an additional 4,788 shares during the period. Creative Planning acquired a new position in Redwood Trust in the third quarter valued at approximately $91,000. Finally, Verition Fund Management LLC purchased a new position in Redwood Trust in the third quarter worth approximately $101,000. 74.34% of the stock is currently owned by hedge funds and other institutional investors.
Redwood Trust Price Performance
RWT opened at $6.37 on Tuesday. The company has a market capitalization of $843.49 million, a P/E ratio of 11.57 and a beta of 1.57. The company has a 50-day moving average of $6.55 and a 200-day moving average of $7.08. The company has a debt-to-equity ratio of 14.55, a quick ratio of 44.36 and a current ratio of 44.36. Redwood Trust, Inc. has a 1-year low of $5.45 and a 1-year high of $8.15.
Redwood Trust Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 23rd were paid a dividend of $0.18 per share. This is an increase from Redwood Trust’s previous quarterly dividend of $0.17. The ex-dividend date was Monday, December 23rd. This represents a $0.72 annualized dividend and a yield of 11.31%. Redwood Trust’s dividend payout ratio is presently 130.91%.
Analyst Ratings Changes
A number of research firms have commented on RWT. JMP Securities reaffirmed a “market outperform” rating and issued a $8.00 target price on shares of Redwood Trust in a research report on Friday. StockNews.com downgraded shares of Redwood Trust from a “hold” rating to a “sell” rating in a report on Monday. Finally, JPMorgan Chase & Co. decreased their price target on Redwood Trust from $7.00 to $6.50 and set a “neutral” rating on the stock in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $7.84.
View Our Latest Research Report on RWT
Redwood Trust Company 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.
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