Redwood Trust, Inc. $RWT Shares Purchased by Westbourne Investments Inc.

by · The Markets Daily

Westbourne Investments Inc. boosted its stake in Redwood Trust, Inc. (NYSE:RWT – Free Report) by 26.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,800 shares of the real estate investment trust’s stock after acquiring an additional 7,446 shares during the period. Westbourne Investments Inc.’s holdings in Redwood Trust were worth $212,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Redwood Trust by 6.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,835,003 shares of the real estate investment trust’s stock valued at $11,138,000 after acquiring an additional 108,750 shares during the period. LSV Asset Management increased its position in Redwood Trust by 58.9% in the 1st quarter. LSV Asset Management now owns 1,772,345 shares of the real estate investment trust’s stock valued at $10,758,000 after acquiring an additional 657,141 shares during the period. Ceredex Value Advisors LLC increased its position in Redwood Trust by 24.4% in the 1st quarter. Ceredex Value Advisors LLC now owns 1,479,950 shares of the real estate investment trust’s stock valued at $8,983,000 after acquiring an additional 289,900 shares during the period. Charles Schwab Investment Management Inc. increased its position in Redwood Trust by 2.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,447,700 shares of the real estate investment trust’s stock valued at $8,788,000 after acquiring an additional 36,547 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Redwood Trust by 7.3% in the 1st quarter. Bank of New York Mellon Corp now owns 1,076,392 shares of the real estate investment trust’s stock valued at $6,534,000 after acquiring an additional 72,765 shares during the period. Institutional investors and hedge funds own 74.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RWT shares. Keefe, Bruyette & Woods dropped their price target on Redwood Trust from $6.50 to $5.75 and set a “market perform” rating on the stock in a research report on Tuesday, August 5th. JMP Securities dropped their target price on Redwood Trust from $7.50 to $7.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 31st. UBS Group boosted their target price on Redwood Trust from $6.50 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. Finally, Wall Street Zen cut Redwood Trust from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 2nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $7.25.

View Our Latest Report on Redwood Trust

Redwood Trust Price Performance

RWT stock opened at $6.03 on Wednesday. Redwood Trust, Inc. has a 1 year low of $4.68 and a 1 year high of $8.15. The firm has a market cap of $779.20 million, a P/E ratio of -9.42 and a beta of 1.37. The stock’s 50 day moving average price is $5.99 and its 200 day moving average price is $5.89. The company has a debt-to-equity ratio of 20.00, a quick ratio of 40.39 and a current ratio of 40.39.

Redwood Trust (NYSE:RWT – Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). Redwood Trust had a positive return on equity of 8.70% and a negative net margin of 6.93%.The business had revenue of ($38.10) million for the quarter, compared to analysts’ expectations of $31.00 million. On average, sell-side analysts expect that Redwood Trust, Inc. will post 0.78 earnings per share for the current fiscal year.

Redwood Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 23rd will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 11.9%. The ex-dividend date of this dividend is Tuesday, September 23rd. Redwood Trust’s dividend payout ratio is currently -112.50%.

Redwood Trust Profile

(Free Report)

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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