Van ECK Associates Corp Acquires 45,534 Shares of Redwood Trust, Inc. (NYSE:RWT)

Van ECK Associates Corp raised its holdings in shares of Redwood Trust, Inc. (NYSE:RWT) by 6.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 708,459 shares of the real estate investment trust’s stock after purchasing an additional 45,534 shares during the period. Van ECK Associates Corp’s holdings in Redwood Trust were worth $5,250,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP increased its position in Redwood Trust by 157.1% during 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 buying an additional 2,614,898 shares in the last quarter. Boston Partners purchased a new stake in shares of Redwood Trust in the third quarter worth $12,015,000. Victory Capital Management Inc. increased its holdings in shares of Redwood Trust by 383.2% during the third quarter. Victory Capital Management Inc. now owns 128,334 shares of the real estate investment trust’s stock valued at $915,000 after acquiring an additional 101,774 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Redwood Trust by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,670,825 shares of the real estate investment trust’s stock worth $11,913,000 after purchasing an additional 44,071 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Redwood Trust by 1,944.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 976,088 shares of the real estate investment trust’s stock worth $7,233,000 after purchasing an additional 928,337 shares during the last quarter. 74.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on RWT shares. Wedbush restated a “neutral” rating and set a $6.50 price objective on shares of Redwood Trust in a research note on Wednesday. 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. 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 report on Friday, January 19th. UBS Group cut their target price on Redwood Trust from $9.00 to $8.50 and set a “buy” rating on the stock in a research note on Tuesday, March 5th. Finally, Wells Fargo & Company decreased their price target on 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. Four investment 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $7.66.

Redwood Trust Price Performance

Shares of RWT opened at $6.34 on Friday. The firm has a fifty day simple moving average of $6.03 and a two-hundred day simple moving average of $6.61. The firm has a market cap of $834.22 million, a PE ratio of 90.57 and a beta of 1.50. The company has a current ratio of 10.79, a quick ratio of 7.36 and a debt-to-equity ratio of 10.08. Redwood Trust, Inc. has a 1-year low of $5.45 and a 1-year high of $8.30.

Redwood Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 21st were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 10.09%. The ex-dividend date was Wednesday, March 20th. Redwood Trust’s dividend payout ratio (DPR) is presently 914.29%.

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 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.