Creative Planning Invests $73,000 in Redwood Trust, Inc. (NYSE:RWT)

Creative Planning bought a new position in shares of Redwood Trust, Inc. (NYSE:RWT) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 11,531 shares of the real estate investment trust’s stock, valued at approximately $73,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. raised its position in shares of Redwood Trust by 164.5% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,859 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 2,400 shares during the last quarter. US Bancorp DE increased its holdings in Redwood Trust by 76.5% in the first quarter. US Bancorp DE now owns 4,846 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 2,100 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Redwood Trust by 195.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 5,467 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 3,617 shares during the last quarter. Quarry LP increased its holdings in Redwood Trust by 736.7% in the first quarter. Quarry LP now owns 5,614 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 4,943 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY increased its holdings in Redwood Trust by 29.6% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 7,213 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 1,649 shares during the last quarter. Institutional investors own 69.94% of the company’s stock.

Redwood Trust Stock Up 0.9 %

Shares of Redwood Trust stock opened at $6.74 on Friday. Redwood Trust, Inc. has a 1 year low of $5.47 and a 1 year high of $8.72. The business has a 50-day moving average of $7.37 and a two-hundred day moving average of $6.83. The company has a market capitalization of $769.98 million, a P/E ratio of -8.22 and a beta of 1.38. The company has a debt-to-equity ratio of 9.44, a current ratio of 6.85 and a quick ratio of 6.85.

Redwood Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 22nd were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, September 21st. This represents a $0.64 annualized dividend and a dividend yield of 9.50%. Redwood Trust’s dividend payout ratio is currently -78.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. StockNews.com assumed coverage on Redwood Trust in a report on Thursday, October 5th. They issued a “hold” rating for the company. JMP Securities upped their price objective on Redwood Trust from $8.00 to $9.00 and gave the company a “market outperform” rating in a report on Friday, September 15th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $8.50.

Redwood Trust Company Profile

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.