Bailard Inc. Invests $209,000 in Redwood Trust, Inc. (NYSE:RWT)

Bailard Inc. purchased a new stake in shares of Redwood Trust, Inc. (NYSE:RWT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 28,167 shares of the real estate investment trust’s stock, valued at approximately $209,000.

Other institutional investors have also added to or reduced their stakes in the company. Yousif Capital Management LLC raised its stake in shares of Redwood Trust by 25.2% during the fourth quarter. Yousif Capital Management LLC now owns 71,517 shares of the real estate investment trust’s stock valued at $530,000 after acquiring an additional 14,392 shares during the last quarter. Wolverine Asset Management LLC purchased a new stake in Redwood Trust in the 4th quarter worth approximately $3,630,000. Illinois Municipal Retirement Fund bought a new stake in shares of Redwood Trust in the 4th quarter worth approximately $495,000. Louisiana State Employees Retirement System purchased a new position in shares of Redwood Trust during the fourth quarter valued at approximately $440,000. Finally, Ceredex Value Advisors LLC bought a new stake in Redwood Trust in the fourth quarter valued at $4,502,000. Hedge funds and other institutional investors own 74.34% of the company’s stock.

Redwood Trust Stock Down 0.3 %

Redwood Trust stock opened at $5.70 on Tuesday. Redwood Trust, Inc. has a one year low of $5.45 and a one year high of $8.30. The stock has a fifty day moving average of $6.04 and a 200 day moving average of $6.63. 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 stock has a market cap of $750.01 million, a PE ratio of -47.50 and a beta of 1.48.

Redwood Trust Dividend Announcement

The company 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 11.23%. The ex-dividend date of this dividend was Wednesday, March 20th. Redwood Trust’s dividend payout ratio is currently -533.33%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wells Fargo & Company dropped 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 report on Wednesday, February 21st. Wedbush cut Redwood Trust from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $8.00 to $6.50 in a research report on Thursday, April 11th. Raymond James decreased their target price on 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. Keefe, Bruyette & Woods dropped their target price on shares of Redwood Trust from $7.75 to $7.25 and set an “outperform” rating on the stock in a report on Wednesday, April 10th. Finally, Piper Sandler cut their price target on Redwood Trust from $7.50 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Redwood Trust has an average rating of “Moderate Buy” and an average target price of $7.66.

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.