Clearbridge Investments LLC Makes New $12.04 Million Investment in Redwood Trust, Inc. (NYSE:RWT)

Clearbridge Investments LLC bought a new stake in shares of Redwood Trust, Inc. (NYSE:RWTGet Rating) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,561,311 shares of the real estate investment trust’s stock, valued at approximately $12,038,000. Clearbridge Investments LLC owned 1.30% of Redwood Trust as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of RWT. Venture Visionary Partners LLC bought a new position in shares of Redwood Trust during the 2nd quarter valued at approximately $27,000. Steward Partners Investment Advisory LLC lifted its stake in shares of Redwood Trust by 43.2% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 6,386 shares of the real estate investment trust’s stock valued at $67,000 after buying an additional 1,927 shares in the last quarter. Journey Advisory Group LLC purchased a new stake in shares of Redwood Trust during the 2nd quarter valued at approximately $91,000. Meeder Asset Management Inc. lifted its stake in shares of Redwood Trust by 13.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 15,163 shares of the real estate investment trust’s stock valued at $117,000 after buying an additional 1,782 shares in the last quarter. Finally, B. Riley Wealth Management Inc. lifted its stake in shares of Redwood Trust by 14.9% during the 1st quarter. B. Riley Wealth Management Inc. now owns 11,969 shares of the real estate investment trust’s stock valued at $126,000 after buying an additional 1,552 shares in the last quarter. 69.49% of the stock is owned by institutional investors.

Redwood Trust Trading Up 0.9 %

Redwood Trust stock opened at $7.65 on Friday. The firm’s fifty day moving average price is $6.70 and its 200-day moving average price is $7.78. The company has a debt-to-equity ratio of 8.38, a quick ratio of 5.11 and a current ratio of 5.11. Redwood Trust, Inc. has a fifty-two week low of $5.51 and a fifty-two week high of $14.04.

Redwood Trust declared that its board has approved a stock buyback plan on Thursday, July 28th that allows the company to buyback $125.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to reacquire up to 11.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

Redwood Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 23rd were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 12.03%. The ex-dividend date of this dividend was Thursday, September 22nd. Redwood Trust’s dividend payout ratio is currently -129.58%.

Wall Street Analysts Forecast Growth

RWT has been the topic of a number of recent research reports. StockNews.com initiated coverage on shares of Redwood Trust in a research note on Wednesday, October 12th. They set a “sell” rating on the stock. BTIG Research cut shares of Redwood Trust to a “neutral” rating in a research note on Tuesday, September 6th. Piper Sandler lowered their target price on shares of Redwood Trust from $10.50 to $8.50 and set an “overweight” rating on the stock in a research note on Friday, September 30th. Wedbush began coverage on shares of Redwood Trust in a research note on Tuesday, October 4th. They issued an “outperform” rating and a $9.00 target price on the stock. Finally, Raymond James lowered their target price on shares of Redwood Trust from $13.50 to $11.50 and set a “strong-buy” rating on the stock in a research note on Tuesday, October 18th. One analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $9.86.

Redwood Trust Company Profile

(Get Rating)

Redwood Trust, Inc, together with its subsidiaries, operates as a specialty finance company in the United States. The company operates through three segments: Residential Mortgage Banking, Business Purpose Mortgage Banking, and Investment Portfolio. The Residential 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.

Further Reading

Institutional Ownership by Quarter for Redwood Trust (NYSE:RWT)

Receive News & Ratings for Redwood Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Redwood Trust and related companies with MarketBeat.com's FREE daily email newsletter.