Redwood Trust, Inc. (NYSE:RWT) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC reduced its position in shares of Redwood Trust, Inc. (NYSE:RWT – Get Rating) by 76.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,108 shares of the real estate investment trust’s stock after selling 71,096 shares during the period. Hsbc Holdings PLC’s holdings in Redwood Trust were worth $128,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Prudential Financial Inc. lifted its position in shares of Redwood Trust by 0.5% during the second quarter. Prudential Financial Inc. now owns 301,444 shares of the real estate investment trust’s stock worth $2,924,000 after purchasing an additional 1,500 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Redwood Trust by 5.0% in the third quarter. Arizona State Retirement System now owns 32,690 shares of the real estate investment trust’s stock worth $188,000 after buying an additional 1,554 shares during the last quarter. Meeder Asset Management Inc. increased its stake in shares of Redwood Trust by 13.3% in the second quarter. Meeder Asset Management Inc. now owns 15,163 shares of the real estate investment trust’s stock worth $117,000 after buying an additional 1,782 shares during the last quarter. Wealthspire Advisors LLC increased its stake in shares of Redwood Trust by 2.9% in the second quarter. Wealthspire Advisors LLC now owns 70,507 shares of the real estate investment trust’s stock worth $544,000 after buying an additional 2,020 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Redwood Trust by 1.5% in the second quarter. UBS Asset Management Americas Inc. now owns 158,225 shares of the real estate investment trust’s stock worth $1,220,000 after buying an additional 2,275 shares during the last quarter. 71.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Collin L. Cochrane sold 11,706 shares of the company’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 of the company’s stock, valued at $390,327.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Redwood Trust news, CAO Collin L. Cochrane sold 11,706 shares of the company’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 directly owns 56,899 shares of the company’s stock, valued at approximately $390,327.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Andrew P. Stone sold 7,000 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 106,821 shares of the company’s stock, valued at $732,792.06. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Redwood Trust Stock Down 5.1 %

Redwood Trust stock opened at $6.89 on Friday. The firm has a market capitalization of $782.64 million, a P/E ratio of -4.75 and a beta of 1.36. The company has a 50-day simple moving average of $7.74 and a 200-day simple moving average of $7.28. Redwood Trust, Inc. has a one year low of $5.51 and a one year high of $11.03. The company has a debt-to-equity ratio of 8.97, a quick ratio of 5.29 and a current ratio of 5.29.

Wall Street Analysts Forecast Growth

RWT has been the subject of a number of research analyst reports. Raymond James dropped their price target on shares of Redwood Trust from $11.00 to $10.00 and set a “strong-buy” rating for the company in a research note on Sunday, March 5th. Keefe, Bruyette & Woods lowered their target price on shares of Redwood Trust from $9.00 to $8.50 and set an “outperform” rating for the company in a research note on Tuesday, February 14th. Wells Fargo & Company boosted their target price on shares of Redwood Trust from $7.50 to $8.50 and gave the company an “equal weight” rating in a research note on Friday, February 10th. JMP Securities boosted their target price on shares of Redwood Trust from $9.00 to $9.50 and gave the company a “market outperform” rating in a research note on Tuesday, February 7th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $9.00 target price on shares of Redwood Trust in a research note on Thursday. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $9.44.

About Redwood Trust

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Redwood Trust, Inc is a financial company, which focuses on several distinct areas of housing credit. It operates through the following segments: Residential Lending, Business Purpose Lending, Third-Party Investments, and Corporate. The Residential Lending segment consists of a mortgage loan conduit that acquires residential loans from third-party originators for subsequent sale, securitization, or transfer into the investment portfolio.