Raymond James Financial Services Advisors Inc. Has $2.40 Million Stock Holdings in Redwood Trust, Inc. (NYSE:RWT)

Raymond James Financial Services Advisors Inc. increased its stake in shares of Redwood Trust, Inc. (NYSE:RWTGet Rating) by 27.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 417,603 shares of the real estate investment trust’s stock after acquiring an additional 90,101 shares during the period. Raymond James Financial Services Advisors Inc. owned about 0.35% of Redwood Trust worth $2,397,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Venture Visionary Partners LLC bought a new stake in shares of Redwood Trust during the 2nd quarter worth approximately $27,000. Steward Partners Investment Advisory LLC grew its holdings in Redwood Trust by 50.4% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 9,607 shares of the real estate investment trust’s stock valued at $74,000 after buying an additional 3,221 shares in the last quarter. AlphaCrest Capital Management LLC acquired a new stake in shares of Redwood Trust during the second quarter worth $87,000. Journey Advisory Group LLC acquired a new position in shares of Redwood Trust in the second quarter valued at about $91,000. Finally, Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in Redwood Trust in the 2nd quarter worth about $99,000. 71.73% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Andrew P. Stone sold 7,000 shares of the firm’s stock in a transaction on Tuesday, December 20th. The shares were sold at an average price of $6.86, for a total transaction of $48,020.00. Following the completion of the transaction, the insider now owns 106,821 shares of the company’s stock, valued at $732,792.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Collin L. Cochrane sold 11,706 shares of the stock in a transaction on Tuesday, December 20th. The shares were sold at an average price of $6.86, for a total transaction of $80,303.16. Following the completion of the sale, the chief accounting officer now directly owns 56,899 shares in the company, valued at $390,327.14. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Andrew P. Stone sold 7,000 shares of Redwood Trust stock in a transaction on Tuesday, December 20th. The stock was sold at an average price of $6.86, for a total transaction of $48,020.00. Following the transaction, the insider now directly owns 106,821 shares of the company’s stock, valued at approximately $732,792.06. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

Redwood Trust Trading Up 0.9 %

Shares of RWT stock opened at $7.61 on Tuesday. Redwood Trust, Inc. has a twelve month low of $5.51 and a twelve month high of $12.87. The stock’s fifty day simple moving average is $7.35 and its 200 day simple moving average is $7.36. The company has a quick ratio of 5.11, a current ratio of 5.11 and a debt-to-equity ratio of 8.38. The firm has a market capitalization of $862.59 million, a P/E ratio of -10.72 and a beta of 1.27.

Redwood Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 28th. Investors of record on Tuesday, December 20th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Monday, December 19th. This represents a $0.92 annualized dividend and a yield of 12.09%. Redwood Trust’s dividend payout ratio is presently -129.58%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on RWT shares. Credit Suisse Group reduced their price target on Redwood Trust to $9.00 in a research report on Thursday, October 13th. StockNews.com assumed coverage on shares of Redwood Trust in a report on Wednesday, October 12th. They set a “sell” rating for the company. Piper Sandler decreased their price objective 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 Redwood Trust in a research note on Tuesday, October 4th. They set an “outperform” rating and a $9.00 target price for the company. Finally, Raymond James decreased their price target on 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 research analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Redwood Trust presently has a consensus rating of “Moderate Buy” and an average target price of $9.86.

Redwood Trust Profile

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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.

See Also

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

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