Wellington Management Group LLP lifted its position in shares of Redwood Trust, Inc. (NYSE:RWT – Free Report) by 6.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,611,264 shares of the real estate investment trust’s stock after buying an additional 941,223 shares during the period. Wellington Management Group LLP owned approximately 11.05% of Redwood Trust worth $112,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in Redwood Trust during the second quarter worth $242,000. Nisa Investment Advisors LLC increased its position in shares of Redwood Trust by 7.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 93,427 shares of the real estate investment trust’s stock worth $606,000 after purchasing an additional 6,192 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings 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 valued at $432,000 after buying an additional 1,400 shares during the period. Ceredex Value Advisors LLC lifted its position in Redwood Trust by 48.8% in the second quarter. Ceredex Value Advisors LLC now owns 906,512 shares of the real estate investment trust’s stock valued at $5,883,000 after buying an additional 297,100 shares during the last quarter. Finally, Raymond James Trust N.A. boosted its stake in Redwood Trust by 53.5% during the second quarter. Raymond James Trust N.A. now owns 18,118 shares of the real estate investment trust’s stock worth $118,000 after buying an additional 6,318 shares during the period. Hedge funds and other institutional investors own 74.34% of the company’s stock.
A number of equities research analysts have recently issued reports on RWT shares. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $7.00 price target (down from $8.00) on shares of Redwood Trust in a research note on Monday. StockNews.com upgraded Redwood Trust from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. JMP Securities lifted their price objective on Redwood Trust from $8.50 to $9.00 and gave the company a “market outperform” rating in a research note on Friday, October 4th. Raymond James increased their target price on Redwood Trust from $8.50 to $9.50 and gave the stock a “strong-buy” rating in a research note on Thursday, September 19th. Finally, Wells Fargo & Company lifted their target price on Redwood Trust from $7.50 to $8.50 and gave the company an “equal weight” rating in a research report on Friday, September 20th. Five investment 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 has an average rating of “Moderate Buy” and an average target price of $8.03.
Get Our Latest Research Report on Redwood Trust
NYSE:RWT opened at $7.00 on Tuesday. The stock has a fifty day moving average price of $7.32 and a 200 day moving average price of $7.14. 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. The firm has a market cap of $925.23 million, a PE ratio of 12.72 and a beta of 1.57.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, September 23rd. 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 dividend yield of 9.72%. Redwood Trust’s payout ratio is currently 123.64%.
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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