Redwood Trust, Inc. (NYSE:RWT) Position Trimmed by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lowered its stake in Redwood Trust, Inc. (NYSE:RWT) by 4.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 87,216 shares of the real estate investment trust’s stock after selling 4,204 shares during the period. Nisa Investment Advisors LLC’s holdings in Redwood Trust were worth $646,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Redwood Trust by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 12,245,804 shares of the real estate investment trust’s stock worth $128,948,000 after acquiring an additional 150,771 shares during the last quarter. State Street Corp lifted its holdings 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 during the last quarter. Wellington Management Group LLP boosted its position in shares of Redwood Trust by 157.1% in the 3rd 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 during the period. Adage Capital Partners GP L.L.C. boosted its position in shares of Redwood Trust by 15.6% in the 3rd 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 during the period. Finally, Geode Capital Management LLC increased its stake in Redwood Trust by 9.3% in the 2nd quarter. Geode Capital Management LLC now owns 2,357,620 shares of the real estate investment trust’s stock worth $15,018,000 after purchasing an additional 199,769 shares in the last quarter. Institutional investors and hedge funds own 74.34% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. UBS Group reduced their price objective on shares of Redwood Trust from $9.00 to $8.50 and set a “buy” rating for the company in a research note on Tuesday, March 5th. Wells Fargo & Company reduced their price target on shares of Redwood Trust from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 21st. Raymond James decreased their price objective on shares of Redwood Trust from $9.00 to $8.50 and set a “strong-buy” rating for the company in a research note on Friday, January 19th. Keefe, Bruyette & Woods cut their target price on shares of Redwood Trust from $7.75 to $7.25 and set an “outperform” rating on the stock in a research note on Wednesday, April 10th. Finally, Wedbush cut Redwood Trust from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $8.00 to $6.50 in a research report on Thursday, April 11th. 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 company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $7.64.

Redwood Trust Price Performance

Shares of NYSE:RWT opened at $5.50 on Wednesday. The business has a 50 day moving average price of $6.20 and a 200 day moving average price of $6.72. Redwood Trust, Inc. has a twelve month low of $5.45 and a twelve month high of $8.30. The company has a market cap of $723.03 million, a price-to-earnings ratio of -45.79 and a beta of 1.48. The company has a quick ratio of 7.36, a current ratio of 7.36 and a debt-to-equity ratio of 10.12.

Redwood Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 21st were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $0.64 annualized dividend and a yield of 11.65%. Redwood Trust’s payout ratio is -533.33%.

About Redwood Trust

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.