California Public Employees Retirement System reduced its position in Redwood Trust, Inc. (NYSE:RWT) by 4.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 224,700 shares of the real estate investment trust’s stock after selling 9,400 shares during the period. California Public Employees Retirement System owned approximately 0.29% of Redwood Trust worth $3,732,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in RWT. SG Americas Securities LLC bought a new stake in Redwood Trust during the first quarter worth about $107,000. Ameritas Investment Partners Inc. acquired a new position in shares of Redwood Trust during the first quarter valued at approximately $109,000. TFS Capital LLC acquired a new position in shares of Redwood Trust during the first quarter valued at approximately $185,000. Comerica Bank raised its position in shares of Redwood Trust by 0.8% in the first quarter. Comerica Bank now owns 11,286 shares of the real estate investment trust’s stock valued at $196,000 after buying an additional 95 shares during the period. Finally, Eqis Capital Management Inc. raised its position in shares of Redwood Trust by 19.5% in the first quarter. Eqis Capital Management Inc. now owns 11,996 shares of the real estate investment trust’s stock valued at $199,000 after buying an additional 1,959 shares during the period. Institutional investors own 85.08% of the company’s stock.
Redwood Trust, Inc. (RWT) opened at 17.17 on Tuesday. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 9.76 and a beta of 0.89. The company has a 50-day moving average of $16.90 and a 200-day moving average of $16.38. Redwood Trust, Inc. has a 1-year low of $13.22 and a 1-year high of $17.43.
Redwood Trust (NYSE:RWT) last released its quarterly earnings data on Thursday, May 4th. The real estate investment trust reported $0.36 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. Redwood Trust had a net margin of 48.45% and a return on equity of 13.22%. The firm had revenue of $62 million for the quarter, compared to the consensus estimate of $34.89 million. During the same period in the previous year, the company earned $0.28 earnings per share. On average, equities analysts predict that Redwood Trust, Inc. will post $1.49 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 16th were issued a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, June 14th. This represents a $1.12 annualized dividend and a dividend yield of 6.52%. Redwood Trust’s dividend payout ratio is currently 62.22%.
Several research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Redwood Trust from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. BidaskClub upgraded shares of Redwood Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Finally, ValuEngine lowered shares of Redwood Trust from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $16.75.
In other Redwood Trust news, Director Karen R. Pallotta purchased 3,027 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The shares were acquired at an average cost of $16.53 per share, for a total transaction of $50,036.31. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Andrew P. Stone sold 3,730 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $17.24, for a total transaction of $64,305.20. Following the completion of the transaction, the general counsel now owns 49,626 shares in the company, valued at $855,552.24. The disclosure for this sale can be found here. 2.33% of the stock is owned by insiders.
Redwood Trust Company Profile
Redwood Trust, Inc, through its subsidiaries, focuses on investing in mortgage and other real estate related assets. The Company is engaged in mortgage banking activities. The Company operates through three segments: Residential Investments, Residential Mortgage Banking and Commercial. The Residential Investments segment includes a portfolio of investments in residential mortgage-backed securities (RMBS) retained from its Sequoia securitizations.
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