Raymond James & Associates Purchases 27,238 Shares of Redwood Trust, Inc. (NYSE:RWT)

Raymond James & Associates grew its position in shares of Redwood Trust, Inc. (NYSE:RWTGet Rating) by 3.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 789,736 shares of the real estate investment trust’s stock after purchasing an additional 27,238 shares during the quarter. Raymond James & Associates owned about 0.66% of Redwood Trust worth $4,533,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. raised its holdings in Redwood Trust by 27.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 417,603 shares of the real estate investment trust’s stock worth $2,397,000 after purchasing an additional 90,101 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Redwood Trust in the 3rd quarter valued at $320,000. Captrust Financial Advisors bought a new stake in shares of Redwood Trust in the 2nd quarter valued at $117,000. Legal & General Group Plc increased its stake in shares of Redwood Trust by 4.9% in the 2nd quarter. Legal & General Group Plc now owns 403,961 shares of the real estate investment trust’s stock valued at $3,115,000 after acquiring an additional 18,764 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Redwood Trust by 255.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 975,708 shares of the real estate investment trust’s stock valued at $7,523,000 after acquiring an additional 701,326 shares in the last quarter. Institutional investors own 71.73% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RWT shares. JMP Securities lowered their price objective on shares of Redwood Trust from $11.00 to $9.00 and set a “market outperform” rating for the company in a research note on Thursday, October 20th. Piper Sandler decreased their price target on shares of Redwood Trust from $10.50 to $8.50 and set an “overweight” rating for the company in a research note on Friday, September 30th. StockNews.com started coverage on shares of Redwood Trust in a research note on Wednesday, October 12th. They set a “sell” rating for the company. Wedbush started coverage on shares of Redwood Trust in a research note on Tuesday, October 4th. They set an “outperform” rating and a $9.00 price target for the company. Finally, Raymond James decreased their price target on shares of Redwood Trust from $13.50 to $11.50 and set a “strong-buy” rating for the company in a research note on Tuesday, October 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $9.86.

Redwood Trust Price Performance

Shares of NYSE:RWT opened at $7.63 on Wednesday. The company’s 50-day moving average is $7.37 and its 200 day moving average is $7.35. The company has a debt-to-equity ratio of 8.38, a quick ratio of 5.11 and a current ratio of 5.11. The company has a market capitalization of $864.86 million, a P/E ratio of -10.75 and a beta of 1.27. Redwood Trust, Inc. has a fifty-two week low of $5.51 and a fifty-two week high of $12.72.

Redwood Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 28th. Investors of record on Tuesday, December 20th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 12.06%. The ex-dividend date of this dividend was Monday, December 19th. Redwood Trust’s dividend payout ratio (DPR) is currently -129.58%.

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.

See Also

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

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