Public Employees Retirement System of Ohio reduced its position in shares of Redwood Trust, Inc. (NYSE:RWT) by 4.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,890 shares of the real estate investment trust’s stock after selling 298 shares during the period. Public Employees Retirement System of Ohio’s holdings in Redwood Trust were worth $114,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in RWT. SG Americas Securities LLC bought a new stake in shares of Redwood Trust during the first quarter worth approximately $107,000. Ameritas Investment Partners Inc. acquired a new position in shares of Redwood Trust during the first quarter valued at about $109,000. TFS Capital LLC acquired a new position in shares of Redwood Trust during the first quarter valued at about $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 in the last quarter. 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 in the last quarter. 85.71% of the stock is owned by institutional investors.
Shares of Redwood Trust, Inc. (NYSE:RWT) traded up 1.07% during trading on Monday, hitting $17.01. The company had a trading volume of 102,009 shares. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 9.94 and a beta of 0.89. Redwood Trust, Inc. has a 12-month low of $13.22 and a 12-month high of $17.45. The stock has a 50-day moving average of $17.13 and a 200 day moving average of $16.73.
Redwood Trust (NYSE:RWT) last issued its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.02. The business had revenue of $60 million during the quarter, compared to the consensus estimate of $33.59 million. Redwood Trust had a return on equity of 12.02% and a net margin of 46.04%. During the same quarter in the previous year, the firm posted $0.48 earnings per share. On average, analysts predict that Redwood Trust, Inc. will post $1.49 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.28 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.12 dividend on an annualized basis and a yield of 6.65%. Redwood Trust’s payout ratio is currently 64.00%.
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RWT has been the subject of several research analyst reports. BidaskClub upgraded Redwood Trust from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. ValuEngine lowered Redwood Trust from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. Finally, Zacks Investment Research upgraded Redwood Trust from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Tuesday, May 9th.
In other Redwood Trust news, Director Karen R. Pallotta bought 3,027 shares of the stock in a transaction on Monday, May 22nd. The stock was acquired at an average cost of $16.53 per share, for a total transaction of $50,036.31. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.33% of the company’s stock.
About Redwood Trust
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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