Janney Montgomery Scott LLC Sells 4,742 Shares of Redwood Trust, Inc. (NYSE:RWT)

Janney Montgomery Scott LLC decreased its holdings in shares of Redwood Trust, Inc. (NYSE:RWT) by 13.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 29,283 shares of the real estate investment trust’s stock after selling 4,742 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Redwood Trust were worth $187,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of RWT. Benjamin F. Edwards & Company Inc. grew its stake 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 valued at $26,000 after buying an additional 2,400 shares during the last quarter. US Bancorp DE boosted its holdings in shares of 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 period. Allspring Global Investments Holdings LLC boosted its holdings in shares of 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 period. Quarry LP boosted its holdings in shares of 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 period. Finally, Metropolitan Life Insurance Co NY boosted its holdings in shares of 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 period. Institutional investors own 69.94% of the company’s stock.

Redwood Trust Stock Performance

Shares of RWT opened at $6.93 on Friday. Redwood Trust, Inc. has a 12 month low of $5.47 and a 12 month high of $8.72. The stock has a fifty day moving average price of $7.26 and a 200-day moving average price of $6.83. The company has a current ratio of 7.94, a quick ratio of 6.85 and a debt-to-equity ratio of 9.24. The firm has a market cap of $791.68 million, a PE ratio of -10.34 and a beta of 1.45.

Redwood Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 22nd were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 9.24%. The ex-dividend date was Thursday, September 21st. Redwood Trust’s payout ratio is -95.52%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports 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 boosted their price target 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 equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.