Mirae Asset Global Investments Co. Ltd. Buys 928,337 Shares of Redwood Trust, Inc. (NYSE:RWT)

Mirae Asset Global Investments Co. Ltd. increased its stake in Redwood Trust, Inc. (NYSE:RWT) by 1,944.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 976,088 shares of the real estate investment trust’s stock after buying an additional 928,337 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.85% of Redwood Trust worth $7,233,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of RWT. Vanguard Group Inc. increased its stake in shares of Redwood Trust by 1.2% during the first quarter. Vanguard Group Inc. now owns 12,245,804 shares of the real estate investment trust’s stock valued at $128,948,000 after purchasing an additional 150,771 shares in the last quarter. State Street Corp increased its stake in shares of Redwood Trust by 1.9% during the third quarter. State Street Corp now owns 4,359,312 shares of the real estate investment trust’s stock valued at $25,022,000 after purchasing an additional 79,780 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Redwood Trust by 157.1% during the third quarter. Wellington Management Group LLP now owns 4,279,191 shares of the real estate investment trust’s stock valued at $30,511,000 after purchasing an additional 2,614,898 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its stake in shares of Redwood Trust by 15.6% during the third quarter. Adage Capital Partners GP L.L.C. now owns 3,777,300 shares of the real estate investment trust’s stock valued at $26,932,000 after purchasing an additional 509,536 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Redwood Trust by 9.3% during the second quarter. Geode Capital Management LLC now owns 2,357,620 shares of the real estate investment trust’s stock valued at $15,018,000 after purchasing an additional 199,769 shares in the last quarter. 74.34% of the stock is owned by institutional investors.

Redwood Trust Trading Down 1.7 %

Shares of RWT stock opened at $5.73 on Friday. Redwood Trust, Inc. has a 12-month low of $5.47 and a 12-month high of $8.30. The company has a debt-to-equity ratio of 10.12, a quick ratio of 7.36 and a current ratio of 7.36. The firm’s 50 day moving average is $6.25 and its 200 day moving average is $6.75.

Redwood Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 21st were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 11.17%. The ex-dividend date of this dividend was Wednesday, March 20th. Redwood Trust’s dividend payout ratio is currently -533.33%.

Analyst Upgrades and Downgrades

RWT has been the subject of a number of analyst reports. Keefe, Bruyette & Woods decreased their target price on shares of Redwood Trust from $7.75 to $7.25 and set an “outperform” rating for the company in a research note on Wednesday. Wells Fargo & Company decreased their target price on shares of Redwood Trust from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 21st. Wedbush downgraded shares of Redwood Trust from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $8.00 to $6.50 in a research report on Thursday. Piper Sandler reduced their price target on shares of Redwood Trust from $7.50 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, February 21st. Finally, Raymond James reduced their price target on shares of Redwood Trust from $9.00 to $8.50 and set a “strong-buy” rating for the company in a research report on Friday, January 19th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $7.64.

Redwood Trust 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 Consumer Mortgage Banking, Residential Investor Mortgage Banking, and Investment Portfolio. The Residential Consumer 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.